Mini LBO Underwrite
You are underwriting a 5-year LBO for a private equity investment committee. Company (fictional): HarborTech Services (HTS) –…
HarborTech Services LBO Underwriting Task 1: Year-by-Year Financial Projections FY Revenue EBITDA TL Interest Mezz Interest Total Interest Taxable Income Cash Taxes Capex ΔNWC FCF After Debt Service End TL End Mezz Total Debt 2026 972 136.1 39.6 14.4 54.0 82.1 20.5 29.2 3.6 48.8 396.0 183.7 579.7 2027 1,039 155.9 35.6…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