Mini LBO Underwrite
You are underwriting a 5-year LBO for a private equity investment committee. Company (fictional): HarborTech Services (HTS) –…
HarborTech Services (HTS) – 5-Year LBO Analysis Year-by-Year Model (Base Case) Metric FY2026 FY2027 FY2028 FY2029 FY2030 Revenue $972.0 $1,040.0 $1,102.4 $1,157.6 $1,215.4 EBITDA $136.1 $156.0 $176.4 $191.0 $206.6 Cash Interest (Term) $43.2 $41.0 $37.6 $32.8 $26.8 Cash Interest (Mezz) $21.6 $22.0 $22.5 $22.9 $23.4…Read the full answer
Sources & Uses (Entry FY2025) Uses ($m) Sources ($m) Enterprise Value (12.0x $120m) $1,440.0 Term Loan (4.0x) $480.0 Transaction Fees (2.0% EV) $28.8 Mezzanine (1.5x) $180.0 Total Uses $1,468.8 Equity (Plug) $808.8 Total Sources $1,468.8 Entry Equity Check: $808.8m Total Debt: $660.0m ($480m TL + $180m Mezz) 5-Year…Read the full answer