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 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
1) Year-by-Year Model (FY2026–2030) Line Item FY2026 FY2027 FY2028 FY2029 FY2030 Revenue $972.0 $1,040.0 $1,102.5 $1,157.6 $1,215.5 EBITDA $136.1 $156.0 $176.4 $191.0 $206.6 EBITDA Margin 14.0% 15.0% 16.0% 16.5% 17.0% Cash Interest - TL $43.2 $42.8 $42.3 $41.9 $41.5 Cash Interest - Mezz $16.2 $16.2 $16.2 $16.2 $16.2…Read the full answer