A comprehensive look at the world of leveraged buyouts The private equity industry has grown dramatically over the past twenty years. Such investing requires a strong technical know–how in order to turn private investments into successful enterprises. That is why Paul Pignataro has created Leveraged Buyouts + Website: A Practical Guide to Investment Banking and Private Equity. Engaging and informative, this book skillfully 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. Provides an in–depth analysis of how to identify a private company, bring such an investment to profitability, and create high returns for the private equity funds Includes an informative LBO model and case study as well as private company valuation Written by Paul Pignataro, founder and CEO of the New York School of Finance If you?re looking for the best way to hone your skills in this field, look no further than this book. INDICE: Preface The Heinz Case Study How This Book is Structured Part I: Leveraged Buyout Overview Chapter 1: Leveraged Buyout Theory Cash Availability, Interest, and Debt Pay Down Operation Improvements What Is a Good Leveraged Buyout? Is Heinz a Leveraged Buyout? Chapter 2: What is Value? Book Value Market Value Enterprise Value Multiples Three Core Methods of Valuation Chapter 3: Leveraged Buyout Analysis Purchase Price Sources and Uses of Funds IRR Analysis Part II: Leveraged Buyout Full Scale Model Chapter 4: Assumptions Chapter 5: The Income Statement Revenue Cost of Goods Sold Operating Expenses Other Income Depreciation and Amortization Interest Taxes Non–Recurring and Extraordinary Items Distributions Shares Heinz Income Statement Last Twelve Months (LTM) Income Statement – Making Projections Chapter 6: Cash Flow Statement Cash from Operating Activities Cash from Investing Activities Cash from Financing Activities Heinz Cash Flow Statement Heinz Cash Flow Last Twelve Months (LTM) Cash Flow Statement – Making Projections Chapter 7: The Balance Sheet Assets Liabilities Heinz’s Balance Sheet Chapter 8: Balance Sheet Adjustments Heinz Balance Sheet Adjustments Chapter 9: Depreciation Schedule Straight Line Depreciation Accelerated Depreciation Deferred Taxes Projecting Depreciation Amortization Deferred Taxes Chapter 10: Working Capital Asset Current Asset Liability Operating Working Capital Heinz’s Operating Working Capital Projecting Operating Working Capital Operating Working Capital and the Cash Flow Statement Chapter 11: Balance Sheet Projections Balancing an Unbalanced Balance Sheet Chapter 12: Debt Schedule and Circular References Debt Schedule Structure Modeling the Debt Schedule Circular References Automatic Debt Paydowns Basic Switches Finalizing the Model Chapter 13: Leveraged Buyout Returns Exit Multiples Returns to 3G EBITDA Improvements Conclusion Part III: Advanced LBOs Chapter 14: Accelerated Depreciation MACRS Accelerated vs. Straight Line Depreciation Chapter 15: Preferred Securities, Dividends, and Returns to Berkshire Hathaway Preferred Securities Preferred Dividends Returns to Berkshire Hathaway Chapter 16: Debt Covenant Ratios, and Debt Fee Amortization Coverage Ratios Leverage Ratios Debt Fee Capitalization and Amortization Chapter 17: Paid in Kind Securities Chapter 18: Closing Adjustments Appendices Appendix 1: Model Quick Steps Appendix 2 – Financial Statement Flows Appendix 3 – Excel Hotkeys About the Companion Website About the Author Index
- ISBN: 978-1-118-67454-3
- Editorial: John Wiley & Sons
- Encuadernacion: Cartoné
- Páginas: 448
- Fecha Publicación: 10/01/2014
- Nº Volúmenes: 1
- Idioma: Inglés