Harvard Corporate Governance

SEPTEMBER 22, 2022

Either way, buyers dependent on acquisition financing will need to adjust for this accordingly—potentially, by using their cache of dry powder to write larger equity checks. It is likely that direct lenders will step in to pick up some of the slack left by more cautious capital markets. Acquirers will capitalize on attractive multiples.

Finance 244

Finance EBITDA Equity Marketability 244

Benzinga

NOVEMBER 6, 2024

equity stake, subject to conditions. The consideration to Trina Solar includes $100 million in cash, a $50 million loan repayment, a $150 million loan note, 9.9% of FREYR common stock, and a convertible note for an additional 11.5% FREYR has also secured $100 million from Encompass Capital in preferred stock and raised $14.8

EBITDA 52

EBITDA Equity 52

Equidam

JULY 30, 2024

Looking at a range of possible multiples (such as EV/revenue , EV/EBITDA , EV/FCF or P/E ), investors can compare the price of equity against revenue performance, financial health, and growth expectations, in an attempt to find under-priced opportunities.

EBITDA 69

EBITDA Terminal Value Marketability Equity 69

Brian DeChesare

JULY 31, 2024

If you ever tire of the hype around tech, industrials private equity might be an ideal hiding spot. Morgan’s acquisition of Carnegie Steel in 1901 – was an industrials private equity deal. Table Of Contents Industrials Private Equity Defined What Has Drawn Private Equity Firms to Industrials Companies?

Equity 66

Equity Private Equity Firm EBITDA Start-ups 66

Brian DeChesare

APRIL 13, 2022

They all think they can make a fortune buying and selling stocks; in other words, they’re fans of the long/short equity strategy. When the average person thinks of hedge funds, long/short equity is often the first thing that comes to mind. Probably 90% of hedge fund stock pitches use long/short equity or related strategies.

Equity 98

Equity Start-ups Banking Marketability 98

Lighter Capital

SEPTEMBER 28, 2023

When “growth at any cost” was the name of the game in tech, founders could breeze by without calculating and comparing their startup’s EBITDA margin. EBITDA — earnings before interest, taxes, depreciation, and amortization — is a profitability measure that excludes costs that can obscure the true performance of a business.

EBITDA 52

EBITDA Finance Start-ups Marketability 52

Lighter Capital

AUGUST 31, 2023

A company’s profitability can be analyzed using multiple financial metrics, including EBITDA margin. Tracking EBITDA margin over time and comparing it to both industry averages and similar competitors helps assess the health of a business and determine future strategies. What is EBITDA? Why is EBITDA important?

EBITDA 52

EBITDA Start-ups Finance Equity 52

Benzinga

APRIL 1, 2022

(Nasdaq: HITI ) (TSXV:HITI) (FSE:2LYA) is e xpand ing its brick-and-mortar retail cannabis operations , by entering into a definitive agreement through which High Tide will acquire 100% of the equity interest of 2080791 Alberta Ltd. million and annualized Adjusted EBITDA of CAD$0.6 Paul, Alberta. The purchase price represents 3.5x

EBITDA 98

EBITDA Equity Marketability 98

Benzinga

MARCH 21, 2023

Education group Pearson PLC (NYSE: PSO ) agreed to sell Pearson Online Learning Services (POLS) to Regent , a private equity group, for a deferred sum. of POLS' positive Adjusted EBITDA each year. Regent will pay Pearson 27.5% Full story available on Benzinga.com

EBITDA 98

EBITDA Equity 98

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

Brian DeChesare

DECEMBER 4, 2024

But this started changing in the 2010s and early 2020s as team values skyrocketed and billionaires, sovereign wealth funds , and sports private equity firms all jumped into the sector. Regulations – Does the league allow private equity or other financial sponsor ownership? What is Sports Investment Banking? Can teams carry debt?

Banking 105

Banking Finance Technology Equity 105

Benzinga

APRIL 22, 2022

Nasdaq: HITI ) (TSXV:HITI) (FSE:2LYA) has completed its acquisition of 100% of the equity interest of 2080791 Alberta Ltd. million and annualized a djusted EBITDA of CA$0.6 High Tide Inc. operating as Boreal Cannabis Company which operates two retail cannabis stores in Northern Alberta for CA$2.2 m illion ($ 1.73 Paul, Alberta.

EBITDA 97

EBITDA Equity Marketability 97

Scott Mashuda

NOVEMBER 22, 2022

Business brokers primarily work on smaller transactional deals (less than $2 million EBITDA) that are likely to involve individual buyers, entrepreneurs, or local businesses. REAG offers a tailored, bespoke approach to creating successful outcomes for scalable businesses above $1 million EBITDA. Let us know if we can help you. .

Banking 98

Banking EBITDA Equity Marketability 98

Brian DeChesare

OCTOBER 12, 2022

If you search for “how to start a private equity firm” online, you’ll find results that range from useless to tangentially useful to occasional nuggets of real wisdom. Starting a private equity firm is a bad decision for ~95% of people who work in the finance industry. How Does It Work? Degrees such as an MBA or a Ph.D.

Private Equity Firm 59

Private Equity Firm Equity Start-ups Marketability 59

Brian DeChesare

FEBRUARY 28, 2024

While everyone seems to know about equity research and trading stocks, fixed income research gets far less attention. Equity Research vs. Fixed Income Research Common Myths What Do You Do as a Fixed Income Research Analyst or Associate? Each role has common analytical elements, but the specifics and deliverables differ (e.g.,

Equity 59

Equity Banking Start-ups Finance 59

Sun Acquisitions

JANUARY 8, 2025

This is music to the ears of strategic acquirers and private equity firms. Strong EBITDA (earnings before interest, taxes, depreciation, and amortization) margins are always going to be a green flag for buyers. Private equity buyers who are after targets with stable cash flows and growth potential.

Private Equity Firm 105

Private Equity Firm Marketability Technology Equity 105

Midstreet Blog

AUGUST 4, 2022

If you’re planning to sell a business doing more than $1M in EBITDA , then you may have considered selling to a private equity group. You may have even been approached by a private equity group looking to purchase your company as one of its “platforms.” If that term doesn't resonate with you, don’t worry.

Equity 40

Equity EBITDA 40

Brian DeChesare

MAY 4, 2022

Worst Case Outcome: Elon loses ~90%+ of his invested equity and gets a very negative IRR. The key problems are: Very High Purchase Multiple: The historical (FY 21) EBITDA multiple here is 52x , and the FY 22 multiple based on consensus estimates is 28x. Most Likely Outcome: A 10-15% IRR if parts of the deal go well and others do not.

EBITDA 111

EBITDA Start-ups Finance Equity 111

Value Scout

FEBRUARY 24, 2023

Private equity firms provide meaningful investment capital to growth-oriented businesses. Businesses seeking expansion, change of investors, or even exit may benefit from private equity firms. Businesses seeking expansion, change of investors, or even exit may benefit from private equity firms.

Private Equity Firm 52

Private Equity Firm Equity Start-ups Dividends 52

Scott Mashuda

NOVEMBER 13, 2023

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 is essential for planning exit strategies , such as selling a business or seeking investment.

EBITDA 89

EBITDA Equity Marketability Debt Financing 89

Class VI Partner

MARCH 1, 2023

In January, we surveyed private equity groups investing across various industries and deal sizes within the middle market. Leverage Shift It should come as no surprise that the record-paced Federal Funds Rate hikes affected private equity leverage reads in a notable way, especially in the second half of the year.

Equity 52

Equity EBITDA Marketability Finance 52

Biz Equity

APRIL 13, 2023

Evolving Restaurant Outcomes from 2020 to 2021 Based on the improving fundamentals during 2021, the average (mean) asset sale value and equity value for restaurants rose considerably: The average asset sale value rose from $1,417K to $2,152K, or by $735K or 52%. The average equity value rose from $1,415K to $2,243K or by $826K or 58%.

Equity 98

Equity EBITDA Business Valuation Technology 98

Benzinga

MAY 20, 2024

May 20, 2024 (GLOBE NEWSWIRE) -- Star Equity Holdings, Inc. EBITDA targets are $5.4 million 1 and Adjusted EBITDA of $5.5 Enters Engineered Wood Products Market Substantially Improves Cash Flow OLD GREENWICH, Conn., Earn-out Adj. million and $6.0 million for years 1 and 2, respectively.

Equity 40

Equity Technology EBITDA Marketability 40

Benzinga

MARCH 4, 2024

Equipment rental company United Rentals, Inc (NYSE: URI ) has entered into a definitive agreement to acquire Yak Access, LLC, Yak Mat, LLC and New South Access & Environmental Solutions, LLC from Platinum Equity for approximately $1.1 For the year ended December 31, 2023, Yak generated $171 million of adjusted EBITDA on $353.

EBITDA 64

EBITDA Equity 64

Benzinga

MAY 15, 2023

BP plc (NYSE: BP ) subsidiary, BP Products North America Inc., completed the previously announced acquisition of TravelCenters of America Inc (NASDAQ: TA ) for $1.3 The acquisition price represented an 84% premium to the average trading price of the 30 days of $46.68 ending February 15.

EBITDA 52

EBITDA Equity Marketability 52

Benzinga

MAY 10, 2022

First quarter Adjusted EBITDA 1 of $0.4 We grew our revenue 75% on a year-over-year basis and continued to deliver positive Adjusted EBITDA while simultaneously making key investments that are geared toward driving long-term growth and enhancing shareholder value.". Adjusted EBITDA 1 was $0.4 million in equity.

EBITDA 40

EBITDA Intangible Assets Treasury Start-ups 40

Benzinga

AUGUST 31, 2023

Watts Water Technologies Inc (NYSE: WTS ) penned a deal to acquire Bradley Corporation for $303 million. The transaction value comes to around $268 million after adjusting for the estimated net present value of expected tax benefits of about $35 million.

Net Present Value 52

Net Present Value EBITDA Technology Marketability 52

Benzinga

JULY 22, 2024

2024E EBITDA, including expected run-rate synergies. In 2023, ESG generated approximately $750 million of revenue. When adjusted for the present value of expected tax benefits of about $275 million, the purchase price is $1.725 billion. This represents approximately 8.4x

EBITDA 95

EBITDA Marketability Equity 95

Brian DeChesare

SEPTEMBER 13, 2023

Ask anyone interested in distressed debt hedge funds for “the pitch,” and they’ll probably mention one of the following: “It’s like long/short equity or credit , but more interesting!” Distressed investing offers equity-like returns with lower risk.” Distressed assets offer non-correlated returns, similar to global macro.”

Equity 103

Equity Banking EBITDA Start-ups 103

Valutico

DECEMBER 15, 2022

The ratio used might be EV/EBITDA, EV/Sales, P/E or another, depending on the valuation performed and the type of business being valued. So another major assumption when adopting this method, is that the type of ratio chosen as the comparison point, such as P/E or EV/EBITDA should be similar across similar firms. .

Precedent Transaction Analysis 52

Precedent Transaction Analysis EBITDA Comparable Company Analysis Enterprise Value 52

Valutico

DECEMBER 15, 2022

The ratio used might be EV/EBITDA, EV/Sales, P/E or another, depending on the valuation performed and the type of business being valued. So another major assumption when adopting this method, is that the type of ratio chosen as the comparison point, such as P/E or EV/EBITDA should be similar across similar firms. .

Precedent Transaction Analysis 52

Precedent Transaction Analysis EBITDA Comparable Company Analysis Enterprise Value 52

Brian DeChesare

JULY 26, 2023

But over the years, they morphed into a well-known topic and then a commonly derided topic – as many people argue that search fund experience is worthless, while others claim it’s “just as good” as working in banking or private equity. The post The Search Fund Internship: Perfect Pathway into Investment Banking and Private Equity Roles?

Banking 52

Banking Equity Start-ups Private Equity Firm 52

Benzinga

JULY 21, 2023

per share in cash, implying a valuation of approximately 13x trailing twelve months EBITDA. After transaction closure, KKR will support Chase in creating an equity ownership program to. As per the deal, KKR will acquire Chase for $127.50 Full story available on Benzinga.com

EBITDA 52

EBITDA Equity Marketability 52

Andrew Stolz

APRIL 3, 2020

The buyer (the “sponsor”) raises debt and equity to acquire the target. It borrows the majority of the purchase price and contributes proportionately small equity investment. The LBO ratios can go to 90% of debt and 10% of equity. A private equity firm aims a target return of around 20 – 25% (WallStreetMojo, 2018).

Private Equity Firm 52

Private Equity Firm EBITDA Equity Finance 52

Benzinga

APRIL 15, 2024

EV/2023A EBITDA and 6.3x EV/2023A EBITDA, including run-rate synergies. It represents a premium of over 11% to Friday’s closing price of $260.98. Encore’s implied Enterprise Value (EV) of around €3.9 billion represents a multiple of 8.2x As per the terms, Encore may. Full story available on Benzinga.com

EBITDA 59

EBITDA Enterprise Value Equity 59

BV Specialists

MAY 6, 2024

Two of the key variables in the analysis will be your gross revenue and adjusted net income (EBITDA), along with the potential for future growth, which can be determined based on a reasonable forecast of future revenue over the next 3-5 years.

Fair Market Value 83

Fair Market Value Appraisal EBITDA Equity 83

GCF Value

MARCH 1, 2022

An audit is balance sheet focused, whereas the QoE is concentrated on the income statement, emphasizing a company’s true ongoing earnings and cash flow potential, often measured as EBITDA. At this stage, a company’s pro forma EBITDA can then be compared consistently to the projections of future EBITDA generated by the company.

EBITDA 52

EBITDA Equity Compliance 52