b6ed4f90-8003-lbo_simple-lbo-scenarios-and-data-tables (1).xlsx - LBO Company Name(000s SOURCES USES Purchase Price Enterprise Value Historical EBITDA

B6ed4f90-8003-lbo_simple-lbo-scenarios-and-data-tables (1).xlsx

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LBO Company Name (000s) SOURCES & USES Purchase Price / Enterprise Value $ 100,000 SOURCES USES Historical EBITDA @ Close 15,136 Equity $ 41,455 Seller Proceeds $ 95,000 OLDCO Equity Value EV as Multiple of Min EBITDA 6.6x Subordinated Debt $ 37,840 OLDCO Debt $ 5,000 Subordinated Debt EBITDA Multiple 2.5x Senior Debt $ 22,704 Trnsctn Expenses $ 1,000 Senior Debt EBITDA Multiple 1.5x Financing Fees $ 1,000 Transaction Expenses Trnsctn Expenses $ 1,000 Financing Fees $ 1,000 Total $ 102,000 Total $ 102,000 Financial Statements Company Name (000s) Historical Transaction Projected Projected Projected Projected Projected INCOME STATEMENT 20X1 20X2 20X3 20X4 20X5 20X6 20X7 Revenue 98,287 108,115 118,927 130,820 143,902 158,292 174,121 Growth (%) NA 10.0% 10.0% 10.0% 10.0% 10.0% 10.0% Cost of Goods Sold (Net of D&A) 73,715 81,087 89,195 98,115 107,926 118,719 130,591 % of Sales 75.0% 75.0% 75.0% 75.0% 75.0% 75.0% 75.0% Gross Profit 24,572 27,029 29,732 32,705 35,975 39,573 43,530 % of Sales 25.0% 25.0% 25.0% 25.0% 25.0% 25.0% 25.0% SG&A (Net of D&A) 10,812 11,893 13,082 14,063 15,110 16,225 17,412 % of Sales 11.0% 11.0% 11.0% 10.8% 10.5% 10.3% 10.0% EBITDA 13,760 15,136 16,650 18,642 20,866 23,348 26,118 % of Sales 14.0% 14.0% 14.0% 14.3% 14.5% 14.8% 15.0% Depreciation 1,474 1,622 2,069 2,426 2,819 3,319 3,890 Amortization - - 200 200 200 200 200 EBIT 12,286 13,514 14,381 16,016 17,847 19,829 22,028 Interest Expense ON 400 400 6,176 5,812 5,449 5,086 4,722 Pretax Income 11,886 13,114 8,206 10,204 12,398 14,744 17,306 Income Tax Expense 4,676 5,158 2,872 3,571 4,339 5,160 6,057 Tax Rate NM NM 35.0% 35.0% 35.0% 35.0% 35.0% Net Income 7,210 7,957 5,334 6,632 8,059 9,583 11,249 BALANCE SHEET ADJUSTMENTS Pre-Closing Source Source Use Use Use Use Post-Closing Historical Transaction Projected Projected Projected Projected Projected Equity Debt Oldco Equity Oldco Debt Trnsctn Fees Fnce Fees BALANCE SHEET 20X1 20X2 20X3 20X4 20X5 20X6 20X7 20X2 20X2 Current Assets Cash 4,653 12,918 13,141 14,271 17,256 21,042 26,913 12,918 41,455 60,545 (95,000) (5,000) (1,000) (1,000) 12,918 Accounts Receivable 10,326 11,358 12,056 13,261 14,193 15,612 16,697 11,358 11,358 Inventory 5,642 6,206 6,827 7,510 8,261 9,087 9,996 6,206 6,206 Prepaid Expenses 1,849 1,849 1,849 1,849 1,849 1,849 1,849 1,849 1,849 Total Current Assets 22,470 32,332 33,872 36,891 41,559 47,590 55,454 32,332 32,332 PP&E, Net of Accum. Depreciation 11,853 12,231 12,412 12,486 12,418 12,599 12,709 12,231 12,231 Other Assets Capitalized Financing Fee - 1,000 800 600 400 200 - - 1,000 1,000 Goodwill - 62,722 62,722 62,722 62,722 62,722 62,722 - 62,722 62,722
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Other Long Term Asset - - - - - - - - - Total Other Assets - 63,722 63,522 63,322 63,122 62,922 62,722 - 63,722 TOTAL ASSETS 34,323 108,285 109,806 112,699 117,099 123,111 130,885 44,563 108,285
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Current Liabilities Accounts Payable 6,623 7,285 8,014 8,815 9,697 10,666 11,733 7,285 7,285 Total Current Liabilities 6,623 7,285 8,014 8,815 9,697 10,666 11,733 7,285 7,285 Long Term Liabilities OLDCO Notes Payable - - - - - - - - - - OLDCO Current Maturities of Long Term Debt - - - - - - - - - - OLDCO Long Term Debt, Net of Current Maturities 5,000 - - - - - - 5,000 (5,000) - NEWCO Revolving Line of Credit - - - - - - - NEWCO Subordinated Debt 37,840 37,840 37,840 37,840 37,840 37,840 37,840 37,840 NEWCO Senior Debt 22,704 18,163 13,623 9,082 4,541 - 22,704 22,704 TOTAL LIABILITIES 11,623 67,830 64,017 60,278 56,619 53,047 49,573 12,285 67,830 Common Stock 5,015 41,455 41,455 41,455 41,455 41,455 41,455 5,015 41,455 (5,015) 41,455 Retained Earnings 17,685 (1,000) 4,334 10,966 19,025 28,608 39,857 27,263 (27,263) (1,000) (1,000) TOTAL EQUITY 22,700 40,455 45,789 52,421 60,480 70,063 81,312 32,278 40,455 TOTAL LIABILITIES & EQUITY 34,323 108,285 109,806 112,699 117,099 123,111 130,885 44,563 108,285 Check 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 BALANCE SHEET ASSUMPTIONS AR Days 38 38 37 37 36 36 35 Inventory Days 28 28 28 28 28 28 28 AP Days 33 33 33 33 33 33 33 Projected Projected Projected Projected Projected CASH FLOW STATEMENT 20X1 20X2 20X3 20X4 20X5 20X6 20X7 CASH FLOW FROM OPERATING ACTIVITIES Net Income 5,334 6,632 8,059 9,583 11,249 Add Back Non-Cash Items Depreciation 2,069 2,426 2,819 3,319 3,890 Amortization 200 200 200 200 200 Changes in Working Capital Accounts Receivable (697) (1,206) (932) (1,419) (1,084) Inventory (621) (683) (751) (826) (909) Accounts Payable 729 801 882 970 1,067 Net Cash Provided by Operating Activities 7,013 8,171 10,276 11,826 14,412 CASH FLOW FROM INVESTING ACTIVITIES Capital Expenditures - Purchase of PP&E (2,250) (2,500) (2,750) (3,500) (4,000) Net Cash Used in Investing Activities (2,250) (2,500) (2,750) (3,500) (4,000) CASH FLOW FROM FINANCING ACTIVITIES Revolving Credit Facility (Line of Credit) - - - - - Subordinated Debt - - - - - Senior Debt (4,541) (4,541) (4,541) (4,541) (4,541)
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