2023 PE Leveraged Buyout (LBO) Modeling Test Walkthrough | Part 2: P&L Forecast & Debt Schedule скачать в хорошем качестве

2023 PE Leveraged Buyout (LBO) Modeling Test Walkthrough | Part 2: P&L Forecast & Debt Schedule

DOWNLOAD LINKS FOR FILES: PDF: https://drive.google.com/file/d/1AQQa... Completed Excel (download from drive as an excel to get rid of REFs): https://docs.google.com/spreadsheets/... Part 1:    • 2023 PE Leveraged Buyout (LBO) Modeling Te...   Part 3:    • 2023 PE Leveraged Buyout (LBO) Modeling Te...   In this video, I walk you through how to build an leverage buyout (LBO) model from scratch. Part 1 is focused on setting up transaction assumptions and sources and uses table. Part 2 will focus on P&L forecasts and balance sheet adjustments. Part 3 will focus on returns calculations. Entry & Exit Assumptions: Entry and Exit at 12x LTM EBITDA Assume cash-free, debt-free Leverage Assumptions: Lever off LTM EBITDA Revolver with $25M of facility size / 0.0x at close (undrawn) / 8% Interest / 0% Unused Fee Term Loan of 3.0x at close / 8% Cash Interest / 1% Mandatory Amortization PIK Debt of 1.5x at close / 10% PIK Interest 2% Financing Fees Transaction Assumptions: 40% Tax Rate 25% Rollover of Proceeds 15% Management Incentive Pool $10M minimum Cash Balance with an interest rate of 1% Transaction Fees: 1% of TEV 10-year Amortization on Financing Fees and DTLs 10% step-up Financial Forecasts: 2021 Revenue of $200M expected to grow at 15% per year 2021 Gross Margins at 40%, expanding by 50bps per year 2021 SG&A of $40M growing at 5% per year D&A of $9M per year CapEx of $10M per year Pre-Transaction Balance Sheet: No Cash Accounts Receivable of $33M PP&E of $300M Existing goodwill of $50M Accounts Payable of $10M Shareholders Equity of $373M Keep all DSO and DPO assumptions equal to 2021