Scott Mashuda

NOVEMBER 13, 2023

How Does the Cost of Debt Influence M&A? While debt is cheaper than equity , cost of debt plays a pivotal role in shaping M&A activity in the lower middle market. Valuation in the private markets is often defined by a business’ EBITDA. What is EBITDA?

EBITDA 89

EBITDA Equity Marketability Debt Financing 89

Reynolds Holding

JUNE 3, 2024

As EBITDA and revenue multiples on larger platform acquisitions increased through 2021 and into the early part of 2022, many sponsors turned to consolidation and “buy and build” strategies, characterized by using smaller add-on acquisitions with lower price multiples to build value. This post comes to us from Goodwin Procter LLP.

Equity 45

Equity EBITDA Debt Financing Equity Financing 45

Benzinga

AUGUST 1, 2024

The two companies are expected to generate a combined Ex-TAC Gross Profit of $660 - $680 million (1)(2) and Adjusted EBITDA of $180 - $190 million (1)(2) in 2024E. The $25 million deferred cash payment will be paid in one or more installments after closing, subject to compliance with certain covenants in the debt financing terms. (3)

Debt Financing 40

Debt Financing EBITDA Finance Banking 40

Benzinga

JULY 26, 2023

Financial Highlights of the Transaction The total estimated consideration of $395 million: i) represents less than 2.75x of expected EBITDA in 2024, ii) is estimated to be less than the book value of MacKellar's assets and iii) is expected to be over 50% accretive based on incremental earnings per share. billion $1.15

EBIT 40

EBIT Debt Financing Book Value Finance 40

Simply Treasury

AUGUST 2, 2022

Concept of notional interest : It is proposed to introduce notional interest, the idea of which is to allow the deduction during 10 consecutive years of this "synthetic" interest, within the famous limit of 30% of the company's EBITDA. This disincentive is intended to reduce the attractiveness of debt financing, regardless of its origin.

Equity 52

Equity Risk Premium Banking Finance 52

Benzinga

MARCH 4, 2025

Transaction Highlights Transaction values ADT at a cash-free, debt-free enterprise value of $12.65 million of debt financing which closed simultaneously with the acquisition, and the remainder from Star's cash on hand. 40% of full year 2024 revenue), and in Casper and Evanston, WY, and Vernal, UT (approx.

Equity 40

Equity Debt Financing Enterprise Value EBITDA 40

Benzinga

FEBRUARY 3, 2025

The two companies are preliminarily reporting a combined Ex-TAC Gross Profit of $623 million and Adjusted EBITDA of $230 million in 2024 including $65-75 million of estimated synergies 1. **According to 2024 Jounce SPO analyses, specific to Teads platform. million for Q4 2024, and $236.1 million Outbrain shares.

EBITDA 40

EBITDA Debt Financing Marketability Technology 40