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Leveraged Buy-Out

City Training UK
Course summary
1 day
750 GBP excl. VAT
English
London
Open / Scheduled

Course description

Leveraged Buy-out Training Course

Leveraged Buy-Out - A One-Day Training Course

This course from City Training in London has been designed to develop the participants’ understanding of Leverage Buy-Out (LBO). Over this one-day course, which is delivered in the form of lectures and case studies, the participants will cover a number of key topics, including:

  • Understanding what makes good LBO candidate
  • Assessing how an LBO works and what are the key drivers
  • Determining the major components of a capital structure
  • Modelling an LBO, calculating internal rate of return and performing sensitivities

About the trainer:

Jennifer has 6 years of experience in investment banking and private equity at leading firms. She began her career in Investment Banking at Goldman Sachs in New York where she worked on a variety of merger and acquisition and LBO transactions mainly for industrial clients. Jennifer then moved to Kohlberg Kravis Roberts in New York where she worked on large-scale LBO transactions. She is now a full-time trainer with a speciality in Corporate Finance, Private Equity and LBO. She also teaches at Stern School of Business.

Jennifer studied engineering at Yale University and has an MBA in Finance from the Stern School of Business. She also holds the Series 7 US license.

Suitability - Who should attend?

This course is designed for participants who are:

  • Junior professionals in private equity
  • Financial analysts and associates in investment banks
  • Junior professionals in merger and acquisition boutiques
  • Finance, legal professionals involved in LBOs
  • All interested finance professionals

Training Course Content

The content of this course is split into three main sessions:

Session 1 LBO Analysis

  • Basic principles of leverage and LBOs
  • Drawing the distinction between discounted cash flow and LBO analysis
  • Private Equity as an asset class for investors
  • Why has the Private Equity industry caused such controversy, particularly in Germany?
  • Different transaction types:
    - Management Buyouts
    - Management Buy-ins
    - Public to Privates
    - Recapitalisations
    - Secondaries and Tertiaries.
  • The differing objectives of vendors, PE firms, management and banks
  • Free cash flow for debt pay down
  • Understanding the key drivers of the Internal Rate of Return

Session 2 Which Businesses Make Good LBO Candidates?

  • The seller’s perspective
  • The bank perspective: predictability and visibility of cashflows
  • The Private Equity perspective: growth potential or an ‘angle’
  • Lifecycle of an LBO
  • Jumbo deals v Mid market deals
  • Exit strategies and considerations

Session 3 Modelling the LBO

  • Funding
    - Basic deal inputs and assumptions
    - Sources and Uses
    - Exit and returns analysis
  • Operational assumptions
    - Identifying and analysing the key cash flow drivers
    - Analysing profitability, financial efficiency as well as balance sheet and cash flow ratios
  • Debt modelling
    - Rates, credit ratios, covenants
    - Payback: amortisation vs. cash sweep
    - Exit and returns analysis
    - Exit - trends, forecasts, peer comparisons
    - Sense check v non-financial knowledge
  • Management Case, P/E Case , Bank Case and Sensitivities
    - Modelling scenarios and the Payout case
    - Exit and returns analysis

Expenses

The cost of this training programme for Leveraged Buy-out is £750 plus VAT per delegate.

About provider

City Training UK

City Training is a highly-distinguished supplier of premium public courses, in-house training, and courses for universities and schools. The company focuses solely on financial training and covers the areas of financial accounting, corporate finance, valuation, credit analysis, regulatory capital, mergers and...


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Contact info

City Training UK

100 Pall Mall, Saint James
SW1Y 5NQ London

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citytraininguk.com

Reviews

Average rating 4.8

Based on 8 reviews

Cloe T, Analyst, Leverage Finance
(5)
Would recommend to any analyst who is going to do Leverage Finance
Luke Q, Analyst, Private Equity
(5)
Leant a lot especially on modeling the mezzanine and PIK bond
Penelope O, Associate, Private Equity
(5)
Enjoyed the trainer particularly given his great experience in Private Equity
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