Mini LBO Underwrite
You are underwriting a 5-year LBO for a private equity investment committee. Company (fictional): HarborTech Services (HTS) –…
HarborTech Services – 5-Year LBO Underwriting Entry Capitalization Item $m FY25 EBITDA 120.0 EV @ 12.0x 1,440.0 Term Loan (4.0x) 480.0 Mezzanine (1.5x) 180.0 Transaction fees (2.0% EV) 28.8 Sponsor equity 808.8 Year-by-Year Operating & Debt Schedule ($m) FY26 FY27 FY28 FY29 FY30 Revenue 972.0 1,040.0 1,102.4 1,157.6…Read the full answer
Simplified Year-by-Year Table (FY2026–FY2030) Year Revenue ($M) EBITDA ($M) TL Interest ($M) Mezz Interest ($M) Cash Taxes ($M) Capex ($M) ΔNWC ($M) FCF ($M) TL Balance ($M) Mezz Balance ($M) FY2026 972.0 136.1 43.2 21.6 17.8 29.2 0.4 23.9 456.1 183.6 FY2027 1,040.0 156.0 41.0 22.0 23.2 31.2 0.3 38.2 417.9 187.3 FY2028…Read the full answer