Mini LBO Underwrite
You are underwriting a 5-year LBO for a private equity investment committee. Company (fictional): HarborTech Services (HTS) –…
Year-by-Year Financial Projections (FY2026–FY2030) All figures in $ millions. Year Revenue EBITDA Cash Interest (Term Loan / Mezz / Total) Cash Taxes Capex ΔNWC FCF after Debt Service* Ending Term Loan Ending Mezzanine 2026 972.00 136.08 43.20 / 21.60 / 64.80 17.82 29.16 0.36 40.74 434.46 183.60 2027 1,040.04 156.01…Read the full answer
HarborTech Services — 5-Year LBO Summary Entry Math EV = 12.0x × $120m = $1,440.0m; Fees (2%) = $28.8m; Total uses = $1,468.8m Debt: TL = 4.0x × 120 = $480.0m; Mezz = 1.5x × 120 = $180.0m; Total = $660.0m (5.5x) Sponsor equity = $808.8m Base Case Projection ($m) FY26 FY27 FY28 FY29 FY30 Revenue 972.0 1,039.7 1,102.1…Read the full answer