Mini LBO Underwrite
You are underwriting a 5-year LBO for a private equity investment committee. Company (fictional): HarborTech Services (HTS) –…
Certainly, here is the detailed analysis for the HarborTech Services (HTS) LBO transaction: Simplified Year-by-Year Projections (FY2026 - FY2030): Fiscal Year Revenue EBITDA Cash Interest Cash Taxes Capex ∆NWC Free Cash Flow Term Loan Mezzanine FY2026 $972m $136.1m $37.8m $24.6m $29.2m $4.9m $39.6m $306.0m $162.0m…Read the full answer
518.51935 New TL: 276.34682 - 86.82747 = 189.51935 Mezz: PIK 194.8377888 * 0.02 = 3.896755776 New Mezz: 194.8377888 + 3.896755776 = 198.734544576 Ending Balances: TL: 189.52 Mezz: 198.73 Total Debt: 388.25 Exit (End of FY2030): Exit EBITDA: 206.6252668 Exit Multiple: 10.5x Exit EV: 206.6252668 * 10.5 = 2,169.5653014…Read the full answer