Mini LBO Underwrite
You are underwriting a 5-year LBO for a private equity investment committee. Company (fictional): HarborTech Services (HTS) –…
1) Year‑by‑year model (FY2026–FY2030) Item FY2026 FY2027 FY2028 FY2029 FY2030 Revenue ($m) 972.0 1,038.0 1,100.3 1,155.3 1,213.1 EBITDA ($m) 136.1 155.7 176.1 190.6 206.2 Cash interest – Term Loan (9%) 43.2 41.0 37.6 32.8 26.8 – Mezzanine (12% cash) 21.6 22.0 22.5 22.9 23.4 Total cash interest 64.8 63.1 60.1 55.7 50.2…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