Mini LBO Underwrite
You are underwriting a 5-year LBO for a private equity investment committee. Company (fictional): HarborTech Services (HTS) –…
Simplified Year-by-Year Table (FY2026–FY2030) Year Revenue ($M) EBITDA ($M) TL Interest ($M) Mezz Interest ($M) Cash Taxes ($M) Capex ($M) ΔNWC ($M) FCF ($M) TL Balance ($M) Mezz Balance ($M) FY2026 972.0 136.1 43.2 21.6 17.8 29.2 0.4 23.9 456.1 183.6 FY2027 1,040.0 156.0 41.0 22.0 23.2 31.2 0.3 38.2 417.9 187.3 FY2028…Read the full answer
LBO Underwriting: HarborTech Services (HTS) Financial Model Summary (FY2026–FY2030) Entry Assumptions (FY2025 Close): Revenue: $900m EBITDA: $120m Purchase Price: $1,440m ($120m × 12.0x) Debt: $660m (TL $480m / Mezz $180m) Equity Check: $780m (Purchase) + $28.8m (Fees) = $808.8m Debt Terms: Term Loan (TL): $480m @ 9%…Read the full answer