Excel LBO with audit gates and stress-tested mechanics
Base case: 2.55x MOIC · 20.6% XIRR · 5.0x entry leverage · 5-year hold
Executive Summary
What It Is
A fully integrated 10-tab Excel LBO model built to institutional formatting and audit standards. Designed for sponsor-side deal analysis, IC presentation, and lender diligence.
What Is Inside
Integrated 3-statement operating model
Full debt schedule with cash sweep and amortization
Sensitivity tables, scenario analysis, and stress tests
Why Trust It
532 formula checks
23 audit gates
8 data validations
ALL CHECKS PASS
Deal Snapshot
2.55x
MOIC
20.6%
XIRR
$155.0M
Entry EV
5.0x
Entry Leverage
5 yrs
Hold Period
Base case assumes no multiple expansion. Exit EV reflects EBITDA growth only.
Sources and Uses
$155.0M
Total Capitalization
60.0%
Total Debt
19.9%
Sponsor Equity
20.1%
Rollover Equity
Transaction fees funded from closing cash. Single-source assumptions drive all debt sizing and equity.
Capital Structure ($M)
Operating Forecast
Revenue CAGR of 5.0% driven by volume growth with no price assumption
EBITDA margin expands from 18.8% at entry to 20.0% by Year 5 (120 bps), reflecting operating leverage on a fixed cost base
Revenue growth rate is held constant at 5.0% per year. No acceleration assumed in any period.
Deleveraging Profile
Debt paydown funded by levered FCF after a minimum cash floor of $5.0M.
Value Creation Attribution
$22.5M
EBITDA Growth
$25.3M
Debt Paydown
$0.0M
Multiple Expansion
Entry equity $30.8M. Exit equity $78.6M. Bridge measures equity value change only. Base case assumes no multiple expansion.
Sensitivity Analysis
Entry x Exit MOIC Matrix
Entry x exit table recomputes transaction fees and sponsor equity at each entry multiple. No fixed denominator.
QA System
532
Formula Checks
23
Audit Gates
8
Data Validations
0
Errors
Automated Checks
Cross-sheet reference integrity
Dead input detection
Sensitivity table integrity
Liquidity feasibility (cash floor + revolver)
Hard-Fail Input Gates
All checks return ALL CHECKS PASS under base case and all stress scenarios tested.
Stress Tests and Breakpoints
Scenario Analysis
Breakpoint Analysis
Base case MOIC of 2.55x survives all single-variable stresses above 1.0x
Capital loss requires simultaneous compression across revenue, margin, and exit multiple
Model hard-blocks inputs that produce undefined leverage or division errors
The model blocks invalid inputs at the data validation layer and fails loudly when the deal is infeasible.
Client Deliverable
Deliverable
Unlocked Excel file (.xlsx), fully editable
10 structured tabs with consistent formatting
Color-coded inputs (yellow), formulas (blue), and outputs (white)
Audit and Checks tab with live status indicators
Customization
All assumptions centralized on a single Inputs tab
Debt structure, hold period, entry and exit multiples, and operating drivers are all variable
Scenario toggle for base, upside, and downside cases