Same engine. Same ten axes. Sub-lane thresholds parameterized per industry.
The IRA grades every business on the same ten axes — financial consistency, reporting maturity, KPI completeness, operational risk, stress tolerance, data integrity, governance, management responsiveness, key-person dependency, customer concentration. The sub-lane parameterizes the thresholds. What counts as 'concentrated' in HVAC is different than what counts as concentrated in SaaS. The vertical pages below show what the engine grades for each industry, with a pattern example and partner-handoff brief.
The verticals
The IRA supports ten sub-lanes today (four corporate operating businesses plus five real-estate categories plus one hybrid). The vertical pages below take the highest-leverage four — HVAC, dental, distribution, multifamily — and walk through what the engine grades, what patterns the engine flags, and what the IRA artifact looks like for that sub-lane.
- corp.hvac_servicesHVAC services
Roll-up activity is at peak. Wrench Group (Leonard Green), Service Experts (Brookfield), and regional consolidators underwrite to key-person, technician retention, and recurring-revenue benchmarks.
See the IRA for HVAC services → - corp.dentistryDental multi-location
DSO acquisition is structural. Heartland (KKR), Aspen, Pacific Dental, Smile Brands (Welsh Carson) underwrite to recall completion, hygiene mix, and production-per-chair benchmarks.
See the IRA for Dental multi-location → - corp.distributionDistribution
Cedarbrook is the canonical proof case. Vendor concentration, working-capital management, and key-customer renewal risk gate the verdict.
See the IRA for Distribution → - re.multifamilyMulti-family real estate
Floating-rate debt, rate cap expiry, and the 2025-2027 refinance wall create the most acute lender-engagement context in private markets right now.
See the IRA for Multi-family real estate →
Not your vertical?
The IRA supports six additional sub-lanes on the engine side today — corp.medical_practice, corp.saas, re.industrial, re.medical_office, re.office, and re.retail. Dedicated vertical pages for these will follow as the marketing surface expands. In the meantime, the $750 Self-Assessment grades any sub-lane against the same ten axes; the sub-lane thresholds are calibrated whether or not a public vertical page exists yet.
See the IRA on your own business.
The Self-Assessment is $750, takes 30-45 minutes of intake, returns a fingerprinted 4-page memo. Sub-lane thresholds are applied automatically based on your business type.