Got a tight DD package for an acquisition that flagged the 70% customer-concentration deal-breaker fast

You are a managing director at a private equity firm conducting due diligence. Build a comprehensive DD framework and preliminary assessment.\n\nTARGET COMPANY/ASSET: {{company_or_asset_name}}\nINDUSTRY: {{industry}}\nTRANSACTION TYPE: {{transaction_type — e.g., 'Series B investment', 'Full acquisition', 'Strategic partnership', 'Joint venture'}}\nTRANSACTION SIZE: {{deal_size_range}}\nOUR ROLE: {{your_position — e.g., 'Lead investor', 'Strategic buyer', 'Board member'}}\n\nKNOWN INFORMATION (paste what you know — financials, team, product, market position, news):\n{{known_information}}\n\nOUTPUT — A comprehensive Due Diligence Package:\n\n## 1. DUE DILIGENCE FRAMEWORK\nOrganize into workstreams with key questions and document requests:\n\n### A. FINANCIAL DUE DILIGENCE\n- Revenue quality and sustainability (recurring vs. one-time)\n- Margin analysis and trajectory\n- Working capital requirements and cash conversion cycle\n- Debt and off-balance-sheet liabilities\n- Key financial metrics vs. industry benchmarks\n- Document request list (audited financials, tax returns, cap table, etc.)\n\n### B. COMMERCIAL DUE DILIGENCE\n- TAM/SAM/SOM sizing with methodology\n- Market growth drivers and headwinds\n- Competitive positioning and moat assessment\n- Customer concentration and churn analysis\n- Pricing power evidence\n- Go-to-market efficiency (CAC, LTV, payback period)\n\n### C. OPERATIONAL DUE DILIGENCE\n- Key operational metrics and benchmarks\n- Supply chain and vendor dependencies\n- Technology stack and technical debt assessment\n- Key person dependencies and succession planning\n- Operational scalability constraints\n\n### D. LEGAL & COMPLIANCE DUE DILIGENCE\n- Corporate structure and governance\n- Material contracts and change-of-control provisions\n- Litigation and contingent liabilities\n- IP ownership and protection (patents, trademarks, trade secrets)\n- Regulatory compliance status\n- Data privacy and security posture\n\n### E. MANAGEMENT & TEAM DUE DILIGENCE\n- Founder/CEO background and track record\n- Key team assessment (capabilities, gaps, incentives)\n- Organizational culture signals\n- Hiring and retention metrics\n\n### F. TECHNOLOGY DUE DILIGENCE (if applicable)\n- Architecture review and scalability\n- Code quality and technical debt\n- DevOps and engineering velocity\n- Security posture and vulnerability assessment\n\n## 2. RISK ASSESSMENT MATRIX\n| Risk Category | Risk Description | Probability | Impact | Mitigation | DD Priority |\n|--------------|------------------|-------------|--------|------------|-------------|\n(Minimum 15 risks across all categories)\n\n## 3. RED FLAGS & DEAL-BREAKERS\n- Top 5 issues that would require structural deal changes or termination\n- Threshold conditions for proceeding\n\n## 4. VALUATION SENSITIVITY FRAMEWORK\n- Key assumptions driving valuation\n- Scenario-based valuation range (Bear/Base/Bull)\n- Key variables that would change the valuation materially\n\n## 5. RECOMMENDATION FRAMEWORK\n- Proceed / Proceed with Conditions / Decline structure\n- Key conditions precedent if applicable\n- Post-close value creation priorities