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 Table (FY2026–FY2030) Year Revenue (M) EBITDA (M) Cash Interest (Term) Cash Interest (Mezz) Total Cash Interest (M) Cash Taxes (M) Capex (M) ΔNWC (M) FCF After Debt Service (M) Ending Term Loan (M) Ending Mezzanine (M) 2026 972.00 136.08 43.20 21.60 64.80 17.82 29.16 0.36 19.14 456.06 183.60 2027…Read the full answer