{
  "org": "Nordvale Capital Partners — Deal Portal (Industrials)",
  "user": {
    "username": "associate.industrials",
    "password": "nvc-2026-lci"
  },
  "documents": [
    {
      "id": "doc-fs",
      "title": "LCI — Audited financial statements FY2021–FY2025",
      "path": "financial_statements.xlsx",
      "category": "Financials"
    },
    {
      "id": "doc-ar",
      "title": "LCI — Annual Report 2025, MD&A excerpt and notes",
      "path": "annual_report_excerpt_2025.pdf",
      "category": "Financials"
    },
    {
      "id": "doc-mkt",
      "title": "Market data and comparables (as at 2025-12-31)",
      "path": "market_data.xlsx",
      "category": "Market data"
    },
    {
      "id": "doc-memo",
      "title": "VP memorandum — base-case assumptions",
      "path": "assignment_memo.docx",
      "category": "Instructions"
    },
    {
      "id": "doc-broker",
      "title": "Laurentian Securities — LCI initiation note",
      "path": "broker_note.pdf",
      "category": "Research"
    }
  ],
  "records": {
    "comparables": [
      {
        "company": "Boreal Advanced Materials Corp.",
        "ticker": "BAM",
        "levered_beta": 1.07,
        "debt_to_equity": 0.3,
        "ev_ebitda_ltm": 8.6,
        "pe_ltm": 16.0,
        "market_cap_cad_m": 1480
      },
      {
        "company": "Cascadia Panel Systems Inc.",
        "ticker": "CPS",
        "levered_beta": 1.49,
        "debt_to_equity": 0.55,
        "ev_ebitda_ltm": 7.4,
        "pe_ltm": 13.5,
        "market_cap_cad_m": 620
      },
      {
        "company": "Huronia Fibre Technologies Ltd.",
        "ticker": "HFT",
        "levered_beta": 0.89,
        "debt_to_equity": 0.15,
        "ev_ebitda_ltm": 9.3,
        "pe_ltm": 18.2,
        "market_cap_cad_m": 2210
      },
      {
        "company": "Saguenay Structural Composites Inc.",
        "ticker": "SSC",
        "levered_beta": 9.8,
        "debt_to_equity": 0.4,
        "ev_ebitda_ltm": 8.1,
        "pe_ltm": 14.8,
        "market_cap_cad_m": 540
      },
      {
        "company": "Atlantic Lightweight Industries Inc.",
        "ticker": "ALI",
        "levered_beta": 1.63,
        "debt_to_equity": 0.65,
        "ev_ebitda_ltm": 7.0,
        "pe_ltm": 12.6,
        "market_cap_cad_m": 410
      },
      {
        "company": "Prairie Thermoset Corp.",
        "ticker": "PTC",
        "levered_beta": 0.96,
        "debt_to_equity": 0.22,
        "ev_ebitda_ltm": 8.9,
        "pe_ltm": 17.1,
        "market_cap_cad_m": 1150
      }
    ]
  },
  "forms": [
    {
      "id": "valuation_summary",
      "title": "Valuation summary — LCI base case",
      "fields": [
        {
          "name": "wacc_pct",
          "type": "number",
          "label": "WACC (%)"
        },
        {
          "name": "enterprise_value_m",
          "type": "number",
          "label": "Enterprise value (CAD millions)"
        },
        {
          "name": "value_per_share",
          "type": "number",
          "label": "Value per share (CAD)"
        },
        {
          "name": "recommendation",
          "type": "select",
          "label": "Recommendation",
          "options": [
            "BUY",
            "HOLD",
            "SELL"
          ]
        }
      ]
    }
  ]
}