Mini LBO Underwrite
You are underwriting a 5-year LBO for a private equity investment committee. Company (fictional): HarborTech Services (HTS) –…
HarborTech Services (HTS) – LBO Underwriting SOURCES & USES AT CLOSE (FY2025) Item Amount USES Enterprise Value (12.0x × $120m EBITDA) $1,440m Transaction Fees (2.0% of EV) $28.8m Total Uses $1,468.8m SOURCES Term Loan (4.0x × $120m) $480m Mezzanine (1.5x × $120m) $180m Equity (plug) $808.8m Total Sources $1,468.8m…Read the full answer
Year-by-Year Model (FY2026–FY2030) Metric FY2026 FY2027 FY2028 FY2029 FY2030 Revenue $972m $1,040m $1,102m $1,158m $1,215m EBITDA $136m $156m $176m $191m $207m Cash Interest (Term) $43.2m $41.1m $37.6m $33.4m $28.2m Cash Interest (Mezz) $21.6m $21.6m $21.6m $21.6m $21.6m Cash Taxes (25%) $17.8m $23.3m $29.3m $34.7m…Read the full answer