EY Parthenon Commercial Due Diligence Case

CDD cases are different in one fundamental way: the answer has a deadline and money behind it.

A PE client is about to write a 200M check. Your job isn't to recommend a strategy, it's to validate or kill their investment thesis, fast.

What the case actually looks like: you'll get a target company and a basic thesis, something like "market leader in fragmented niche, room to consolidate." The case tests whether that holds under pressure. Expect to size the market, stress-test growth assumptions, and flag risks the buyer hasn't priced in.

Where it differs from a standard strategy case: the frame is defensive, not generative. You're not building a plan, you're auditing one. Speed matters more than elegance. You're working in 4-6 week sprints, not 3-month projects. The output is an opinion with a number attached. "Is 12x EBITDA fair given X, Y, Z?"

What interviewers are actually looking for: sharp commercial judgment over clean frameworks. They want to see you prioritize. What's the one assumption that kills this deal if it's wrong? Go there first.

On prep: practice leading with a point of view, not a structure. "My hypothesis is the growth story is real but margin expansion is overstated, here's why" beats walking through a 5-box framework every time.

Amsterdam specifically: small team, generalist across sectors. Being comfortable switching between industrials, healthcare, and tech without losing sharpness will matter.

Good luck.

Hi there,

Your commercial background is a real asset here. CDD cases are investor driven. The question isn't "should we enter this market?" ... it's "is this asset worth acquiring at this price, and what are the risks to the investment thesis?" Market dynamics, growth durability, competitive moat, customer concentration risk... all filtered through a buyer's lens.

What's different from a standard strategy or market entry case:

1. Speed and depth tradeoff. CDD moves faster. You're expected to triangulate with incomplete data, not build perfect models.
2. The endpoint is "buy or don't buy," not "grow here." Everything in your structure should point toward de-risking or validating the thesis.
3. PE and deal fluency matters. Comfort with EBITDA, hold period logic, exit multiples... interviewers notice if you're purely in "strategy mode."

That said... please please please do not assume you will only get CDD style commercial cases. EYP interviewers can throw anything at you. Operational deal work (ODD, cost transformation) is just as common. Be flexible and be ready for a full business case.

What interviewers are really looking for: structure and judgment at pace. Not perfection. Not exhaustive analysis. Clear thinking, fast.

On the Amsterdam CDD team specifically: I don't have a strong read on that office's particular focus areas. Network directly with 2 to 3 people there. You'll get better intel in a 15 minute call than from any forum.

For prep:

• I have 30+ real written and take home cases including CDD flavored ones. Shoot me a message and I can share some.
• For the full interview journey end to end: 360 Degree Course — applications, networking, cases, fit, all of it.
• And if you want live practice with someone who can push you in the CDD direction: Coaching

Good luck!

CDD cases have one key difference from standard strategy cases. The question is not "what should this company do." It is "should a PE fund pay X for this asset." That shift changes everything.

A typical CDD case revolves around three questions:

• Is the market attractive and sustainable
• Can this business maintain or grow its position
• Are management's projections believable

On what interviewers want: depth over breadth. They want you to go deep on the critical value drivers, what drives revenue, where the risks are, and what would make you uncomfortable writing the cheque. That investor mindset is what separates good CDD candidates from standard strategy consultants.

On preparation: get comfortable with the idea of an investment thesis. What would a PE fund need to believe to be true in order to buy this business. Then use the case to stress test those beliefs.

Your strategy background is a strong foundation. The adjustment is small. You are not learning something new, just sharpening the lens from "what should they do" to "is this worth buying at this price."

On the Amsterdam office, I do not have enough visibility to give you something useful. Best to speak directly with someone in that team before the interview.

To begin with, confirm with the recruiter that the cases will be CDD-specific. It's not a given. And you should know this as early as possible in order to tailor your prep accordingly. 

Assuming they are CDD, then do try to channel on these types of cases.

Chart interpretation and calculations will be key here. You'll be expected to form a quick and coherent image of the target and then present that. 

If you need any help with CDD-focused cases, reach out, and we can run a mock. 

Best,
Cristian