Leveraged buyouts: a practical guide to investment banking and private equity

✍ Scribed by Pignataro, Paul

• Publisher: John Wiley & Sons
• Year: 2013
• Tongue: English
• Leaves: 429
• Category: Library

✦ Synopsis

pt. One Leveraged Buyout Overview -- ch. 1 Leveraged Buyout Theory -- Cash Availability, Interest, and Debt Pay-Down -- Operation Improvements -- Multiple Expansion -- What Makes Good Leveraged Buyout? -- Exit Opportunities -- Is Heinz a Leveraged Buyout? -- ch. 2 What Is Value? -- Book Value -- Market Value -- Enterprise Value -- Multiples -- Three Core Methods of Valuation -- ch. 3 Leveraged Buyout Analysis -- Purchase Price -- Sources and Uses of Funds -- IRR Analysis -- pt. Two Leveraged Buyout Full-Scale Model -- ch. 4 Assumptions -- Purchase Price -- Sources of Funds -- Uses of Funds -- ch. 5 The Income statement -- Revenue -- Cost of Goods Sold -- Operating Expenses -- Other Income -- Depreciation and Amortization -- Interest -- Taxes -- Nonrecurring and Extraordinary Items -- Distributions -- Shares -- Heinz Income Statement -- Last Twelve Months (LTM) -- Income Statement -- Projections -- ch. 6 The Cash Flow statement.;"Shows how to identify a private company, takes you through the analysis behind bringing such an investment to profitability---and further create high returns for the private equity funds. It includes an informative leveraged buyout overview, touching on everything from LBO modeling, accounting, and value creation theory to leveraged buyout concepts and mechanics."--Publisher description.

✦ Table of Contents

pt. One Leveraged Buyout Overview --
ch. 1 Leveraged Buyout Theory --
Cash Availability, Interest, and Debt Pay-Down --
Operation Improvements --
Multiple Expansion --
What Makes Good Leveraged Buyout? --
Exit Opportunities --
Is Heinz a Leveraged Buyout? --
ch. 2 What Is Value? --
Book Value --
Market Value --
Enterprise Value --
Multiples --
Three Core Methods of Valuation --
ch. 3 Leveraged Buyout Analysis --
Purchase Price --
Sources and Uses of Funds --
IRR Analysis --
pt. Two Leveraged Buyout Full-Scale Model --
ch. 4 Assumptions --
Purchase Price --
Sources of Funds --
Uses of Funds --
ch. 5 The Income statement --
Revenue --
Cost of Goods Sold --
Operating Expenses --
Other Income --
Depreciation and Amortization --
Interest --
Taxes --
Nonrecurring and Extraordinary Items --
Distributions --
Shares --
Heinz Income Statement --
Last Twelve Months (LTM) --
Income Statement --
Projections --
ch. 6 The Cash Flow statement. Cash Flow from Operating Activities --
Cash Flow from Investing Activities --
Cash Flow from Financing Activities --
Financial Statement Flows Example --
Heinz Cash Flow Statement --
Heinz Last Twelve Months (LTM) Cash Flow --
Cash Flow Statement Projections --
ch. 7 The Balance Sheet --
Assets --
Liabilities --
Heinz Balance Sheet --
ch. 8 Balance Sheet Adjustments --
Goodwill --
Heinz Balance Sheet Adjustments --
ch. 9 Depreciation Schedule --
Straight-Line Depreciation --
Accelerated Depreciation --
Deferred Taxes --
Projecting Depreciation --
Projecting Amortization --
Projecting Deferred Taxes --
ch. 10 Working Capital --
Asset --
Liability --
Operating Working Capital --
Heinz's Operating Working Capital --
Projecting Operating Working Capital --
Operating Working Capital and the Cash Flow Statement --
ch. 11 Balance Sheet Projections --
Cash Flow Drives Balance Sheet versus Balance Sheet Drives Cash Flow --
Balancing an Unbalanced Balance Sheet. Ch. 12 Debt Schedule and Circular References --
Debt Schedule Structure --
Modeling the Debt Schedule --
Circular References --
Automatic Debt Pay-Downs --
Basic Switches --
Finalizing the Model --
ch. 13 Leveraged Buyout Returns --
Exit Value --
Returns to 3G Capital --
Multiple Expansion --
Debt Pay-Down --
Conclusion --
pt. Three Advanced Leveraged Buyout Techniques --
ch. 14 Accelerated Depreciation --
Macrs --
Accelerated versus Straight-Line Depreciation --
ch. 15 Preferred Securities, Dividends, and Returns to Berkshire Hathaway --
Preferred Securities --
Preferred Dividends --
Returns to Berkshire Hathaway --
ch. 16 Debt Covenant Ratios, and Debt Fee Amortization --
Coverage Ratios --
Leverage Ratios --
Debt Fee Capitalization and Amortization --
ch. 17 Pald-in-Kind Securities --
Appendixes --
Appendix 1 Model Quick Steps --
Appendix 2 Financial Statement Flows --
Income Statement to Cash Flow --
Cash Flow to Balance Sheet --
Appendix 3 Excel Hot Keys.

✦ Subjects

BUSINESS & ECONOMICS--Industrial Management;BUSINESS & ECONOMICS--Management;BUSINESS & ECONOMICS--Management Science;BUSINESS & ECONOMICS--Organizational Behavior;Private equity;Consolidation and merger of corporations;Investment banking;Leveraged buyouts;Electronic books;BUSINESS & ECONOMICS -- Industrial Management;BUSINESS & ECONOMICS -- Management;BUSINESS & ECONOMICS -- Management Science;BUSINESS & ECONOMICS -- Organizational Behavior