mission Date : 6-month internship starting in as soon as possible. Responsibilities: Participation to pitch to client (new LBO transaction‚ refinancing‚ extension‚ restructuring)Presentation of company (products‚ markets‚ risks‚ SWOT‚ cash-flow generation);Presentation of proposed financing structures;- Liaising with M&A department. Participation in the analysis and follow up of LBO portfolio: - Work on internal credit paper and presentation to analyse: sector risks‚ companies’ performance‚ leverage
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............ 10 The Discounted Cash Flow Model ..................................... 11 The Leveraged Buyout Model ............................................ 12 The SML Approach ............................................................ 13 LBO Price ........................................................................... 14 Capital Structure Proposed ................................................. 15 Payback Period for Silver Lake .......................................... 17 Shareholders’
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thriving enterprise by 1965‚ when annual sales amounted to about $8 million. The company needed backing to expand‚ however‚ so it sold out to Buffalo-based conglomerate Houdaille Industries Inc. Houdaille was in turn purchased in a 1979 leveraged buyout (LBO) led by Kohlberg Kravis Roberts & Co. By 1982‚ when debt‚ competition‚ and a sickly machine-tool market had battered Burgmaster badly‚ Houdaille went to Washington with a petition to withhold the investment tax credit for certain Japanese-made machine
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the three scenarios with different weight. Seagate performs better than average even with their low profit margin average. For this reason‚ we averaged the NPV of the down case at 20%‚ the base case at 50%‚ and the upside case at 30% to arrive at a LBO price. After
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Ragan Thermal Systems plc was founded nine years ago by brother and sister Carrington and Genevieve Ragan. The company manufactures and installs commercial heating‚ ventilation and cooling (HVAC) units. Ragan has experienced rapid growth because of a proprietary technology that increases the energy efficiency of its systems. The company is owned equally by Carrington and Genevieve. The original agreement between the siblings gave each 50‚000 shares. In the event that either wishes to sell the shares
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Question 1: Is Congoleum a good LBO candidate? In other words‚ does this company have a lot of debt capacity? To judge if a company is a good LBO candidate the following are very important factors: low levels of debt in the target‚ stable cash flows‚ excess cash on-hand‚ assets that can be used as collateral to raise debt and no major capital requirements to keep the business running on an on-going basis. Congoleum is an ideal LBO candidate because: 1. Low level of debt – estimated long term debt
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CASE STUDY 1 SEC ENFORCEMENT RELEASE- BRISTOL-MYERS 1. Access the SEC website‚ www.sec.gov‚ and do the following: -go to “Information for Accountants” -go to “The Division of Enforcement Chief Accountants Office” -go to “Accounting and Auditing Enforcement Releases” - then go to the enforcement release related to Bristol-Myers dated August 4‚ 2004. 2. What were the broad areas which the SEC addressed? 3. Of these issues‚ which one was by far the most significant in terms of dollars involved
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Question 1: was infinity a good LBO candidate? On the basis of our analysis set forth below‚ we believe that Infinity Carpets was not a viable LBO candidate. We have answered this question analyzing the various criteria typically looked in a possible LBO scenario‚ where 1 means low risk and 10 means high risk. Criteria Rank Comments Cyclicality/volatility 7 Strong dependence on housing market even though good record during recession (p. 2‚ paragraph 4). Volatility due to exposure to a volatile
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thriving enterprise by 1965‚ when annual sales amounted to about $8 million. The company needed backing to expand‚ however‚ so it sold out to Buffalobased conglomerate Houdaille Industries Inc. Houdaille was in turn purchased in a 1979 leveraged buyout (LBO) led by Kohlberg Kravis Roberts & Co. By 1982‚ when debt‚ competition‚ and a ickly machine-tool market had battered Burgmaster badly‚ Houdaille went
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was a resilient spirit‚ and in the end Okonkwo overcame his sorrow. He had five other sons and he would bring them up in the way of the clan.”(126) When introduced to Western ideas in Things Fall Apart‚ things really did “fall apart”. Some of the lbo people improved from the ideas. But others fell; their leadership fell‚ their respect fell‚ and their manhood fell. Okonkwo was one of the unlucky ones. His sense of identity was completely changed and challenged due to these new
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