Harvard Corporate Governance

SEPTEMBER 22, 2022

Either way, buyers dependent on acquisition financing will need to adjust for this accordingly—potentially, by using their cache of dry powder to write larger equity checks. It is likely that direct lenders will step in to pick up some of the slack left by more cautious capital markets. Acquirers will capitalize on attractive multiples.

Finance 239

Finance EBITDA Equity Marketability 239

Brian DeChesare

MAY 15, 2024

Private equity value creation came on my radar a few years ago when I noticed something: Even though traditional PE deal roles were not doing well, “operational” or “value creation” teams still seemed to be recruiting. What Does the Private Equity Value Creation Team Do in Real Life? Why is PE Value Creation Suddenly “Hot”?

Equity 105

Equity Private Equity Firm Start-ups EBITDA 105

Benzinga

NOVEMBER 6, 2024

equity stake, subject to conditions. The consideration to Trina Solar includes $100 million in cash, a $50 million loan repayment, a $150 million loan note, 9.9% of FREYR common stock, and a convertible note for an additional 11.5% FREYR has also secured $100 million from Encompass Capital in preferred stock and raised $14.8

EBITDA 52

EBITDA Equity 52

Equidam

JULY 30, 2024

Looking at a range of possible multiples (such as EV/revenue , EV/EBITDA , EV/FCF or P/E ), investors can compare the price of equity against revenue performance, financial health, and growth expectations, in an attempt to find under-priced opportunities.

EBITDA 69

EBITDA Terminal Value Marketability Equity 69

Brian DeChesare

JULY 31, 2024

If you ever tire of the hype around tech, industrials private equity might be an ideal hiding spot. Morgan’s acquisition of Carnegie Steel in 1901 – was an industrials private equity deal. Table Of Contents Industrials Private Equity Defined What Has Drawn Private Equity Firms to Industrials Companies?

Equity 66

Equity Private Equity Firm EBITDA Start-ups 66

Lighter Capital

SEPTEMBER 28, 2023

When “growth at any cost” was the name of the game in tech, founders could breeze by without calculating and comparing their startup’s EBITDA margin. EBITDA — earnings before interest, taxes, depreciation, and amortization — is a profitability measure that excludes costs that can obscure the true performance of a business.

EBITDA 52

EBITDA Finance Start-ups Marketability 52

Lighter Capital

AUGUST 31, 2023

A company’s profitability can be analyzed using multiple financial metrics, including EBITDA margin. Tracking EBITDA margin over time and comparing it to both industry averages and similar competitors helps assess the health of a business and determine future strategies. What is EBITDA? Why is EBITDA important?

EBITDA 52

EBITDA Start-ups Finance Equity 52

Equilest

MAY 21, 2025

Unlike public companies that are valued based on stock prices, private healthcare businesseslike optometry practicesare typically valued using multiples of financial performance metrics such as EBITDA, SDE, or revenue. Example : If your clinic has an EBITDA of $250,000 and sells at a 5x multiple, its estimated value would be $1,250,000.

EBITDA 40

EBITDA Business Valuation Private Equity Firm Start-ups 40

Musings on Markets

JANUARY 10, 2025

Thus, as you peruse my historical data on implied equity risk premiums or PE ratios for the S&P 500 over time, you may be tempted to compute averages and use them in your investment strategies, or use my industry averages for debt ratios and pricing multiples as the target for every company in the peer group, but you should hold back.

Risk Premium 119

Risk Premium Dividends Start-ups Corporate Finance 119

Benzinga

APRIL 1, 2022

(Nasdaq: HITI ) (TSXV:HITI) (FSE:2LYA) is e xpand ing its brick-and-mortar retail cannabis operations , by entering into a definitive agreement through which High Tide will acquire 100% of the equity interest of 2080791 Alberta Ltd. million and annualized Adjusted EBITDA of CAD$0.6 Paul, Alberta. The purchase price represents 3.5x

EBITDA 98

EBITDA Equity Marketability 98

Benzinga

MARCH 21, 2023

Education group Pearson PLC (NYSE: PSO ) agreed to sell Pearson Online Learning Services (POLS) to Regent , a private equity group, for a deferred sum. of POLS' positive Adjusted EBITDA each year. Regent will pay Pearson 27.5% Full story available on Benzinga.com

EBITDA 98

EBITDA Equity 98

Brian DeChesare

MAY 17, 2023

Ever since the 2008 financial crisis, there has been massive hype about both private equity and technology. Over the past few decades, technology private equity has gone from “barely existing” to representing the largest single sector in PE by both deal value and deal count. Why Did PE Firms Start Buying Tech Companies?

Equity 64

Equity Technology Private Equity Firm Start-ups 64

IT Valuations

APRIL 7, 2025

The market remains competitive, with private equity and strategic buyers showing continued interest in the sector. The discussion highlighted the key factors impacting IT business valuations , including: Revenue Growth & Profitability: Sustainable, predictable growth with strong EBITDA margins commands higher valuations.

EBITDA 52

EBITDA Business Valuation Finance Equity 52

Scott Mashuda

APRIL 22, 2025

The lower middle market typically encompasses businesses with $2-10 million in EBITDA or enterprise values between $10-100 million. REAG s target market includes the United States and businesses between $2M and $25M in EBITDA and up to $250M in revenue. A key distinction in this space is the buyer profile.

Private Equity Firm 52

Private Equity Firm Marketability EBITDA Equity 52

Benzinga

APRIL 22, 2022

Nasdaq: HITI ) (TSXV:HITI) (FSE:2LYA) has completed its acquisition of 100% of the equity interest of 2080791 Alberta Ltd. million and annualized a djusted EBITDA of CA$0.6 High Tide Inc. operating as Boreal Cannabis Company which operates two retail cannabis stores in Northern Alberta for CA$2.2 m illion ($ 1.73 Paul, Alberta.

EBITDA 97

EBITDA Equity Marketability 97

Reynolds Holding

JUNE 3, 2024

As EBITDA and revenue multiples on larger platform acquisitions increased through 2021 and into the early part of 2022, many sponsors turned to consolidation and “buy and build” strategies, characterized by using smaller add-on acquisitions with lower price multiples to build value. This post comes to us from Goodwin Procter LLP.

Equity 45

Equity EBITDA Debt Financing Equity Financing 45

Brian DeChesare

NOVEMBER 1, 2023

When you hear the words “healthcare private equity,” two thoughts probably come to mind: Wait a minute, isn’t healthcare a risky/growth-oriented sector? Before delving into these nuances, we should take a step back and define the sector: Definitions: What is a Healthcare Private Equity Firm? Why do PE firms operate there?

Equity 59

Equity Private Equity Firm Start-ups Banking 59

Benzinga

APRIL 3, 2025

("BIP") (NYSE: BIP , TSX: BIP ) and its institutional partners (collectively, "Brookfield Infrastructure") reached a definitive agreement to acquire 100% of the world-class midstream asset portfolio Colonial Enterprises ("Colonial"), which includes the Colonial Pipeline, for an enterprise value of approximately $9 billion or 9x EBITDA.

Debt Financing 45

Debt Financing Enterprise Value EBITDA Equity 45

Benzinga

JANUARY 14, 2025

adjusted EBITDA multiple for the trailing 12 months through September 2024, or 5.8x, including $130 million in cost synergies and $54 million in tax attributes. Transaction Details : The acquisition price of $92 per share in cash represents a premium of around 109% over H&E's trading price as of January 13, 2025.

Net Debt 59

Net Debt EBITDA Equity 59

Scott Mashuda

NOVEMBER 22, 2022

Business brokers primarily work on smaller transactional deals (less than $2 million EBITDA) that are likely to involve individual buyers, entrepreneurs, or local businesses. REAG offers a tailored, bespoke approach to creating successful outcomes for scalable businesses above $1 million EBITDA. Let us know if we can help you. .

Banking 98

Banking EBITDA Equity Marketability 98

Equidam

APRIL 26, 2025

For startups, particularly in technology and software sectors, the primary assets are often intangible intellectual property, skilled teams, user bases, brand equity, and growth potential. revenue multiple, ARR multiple, EBITDA multiple) derived from recent acquisitions or funding rounds of supposedly similar companies.

Discounted Cash Flow 59

Discounted Cash Flow Terminal Value Book Value Beta 59

Brian DeChesare

OCTOBER 12, 2022

If you search for “how to start a private equity firm” online, you’ll find results that range from useless to tangentially useful to occasional nuggets of real wisdom. Starting a private equity firm is a bad decision for ~95% of people who work in the finance industry. How Does It Work? Degrees such as an MBA or a Ph.D.

Private Equity Firm 59

Private Equity Firm Equity Start-ups Marketability 59

Brian DeChesare

FEBRUARY 28, 2024

While everyone seems to know about equity research and trading stocks, fixed income research gets far less attention. Equity Research vs. Fixed Income Research Common Myths What Do You Do as a Fixed Income Research Analyst or Associate? Each role has common analytical elements, but the specifics and deliverables differ (e.g.,

Equity 59

Equity Banking Start-ups Risk-free Rate 59

Sun Acquisitions

JANUARY 8, 2025

This is music to the ears of strategic acquirers and private equity firms. Strong EBITDA (earnings before interest, taxes, depreciation, and amortization) margins are always going to be a green flag for buyers. Private equity buyers who are after targets with stable cash flows and growth potential.

Private Equity Firm 105

Private Equity Firm Marketability Technology Equity 105

Midstreet Blog

AUGUST 4, 2022

If you’re planning to sell a business doing more than $1M in EBITDA , then you may have considered selling to a private equity group. You may have even been approached by a private equity group looking to purchase your company as one of its “platforms.” If that term doesn't resonate with you, don’t worry.

Equity 40

Equity EBITDA 40

Brian DeChesare

MAY 4, 2022

Worst Case Outcome: Elon loses ~90%+ of his invested equity and gets a very negative IRR. The key problems are: Very High Purchase Multiple: The historical (FY 21) EBITDA multiple here is 52x , and the FY 22 multiple based on consensus estimates is 28x. Most Likely Outcome: A 10-15% IRR if parts of the deal go well and others do not.

EBITDA 111

EBITDA Start-ups Finance Equity 111

Value Scout

FEBRUARY 24, 2023

Private equity firms provide meaningful investment capital to growth-oriented businesses. Businesses seeking expansion, change of investors, or even exit may benefit from private equity firms. Businesses seeking expansion, change of investors, or even exit may benefit from private equity firms.

Private Equity Firm 52

Private Equity Firm Equity Start-ups Dividends 52

Scott Mashuda

NOVEMBER 13, 2023

While debt is cheaper than equity , cost of debt plays a pivotal role in shaping M&A activity in the lower middle market. Valuation in the private markets is often defined by a business’ EBITDA. What is EBITDA? EBITDA is essential for planning exit strategies , such as selling a business or seeking investment.

EBITDA 89

EBITDA Equity Marketability Debt Financing 89

Class VI Partner

MARCH 1, 2023

In January, we surveyed private equity groups investing across various industries and deal sizes within the middle market. Leverage Shift It should come as no surprise that the record-paced Federal Funds Rate hikes affected private equity leverage reads in a notable way, especially in the second half of the year.

Equity 52

Equity EBITDA Marketability Finance 52

RNC

MAY 22, 2025

Market-Based Valuation (EBITDA Multiples) This method values businesses by analyzing comparable companies, using industry-standard financial ratios such as EBITDA multiples valuation. Most effective for stable, mature businesses with predictable earnings, where financial due diligence clearly defines revenue streams and profitability.

Business Valuation 52

Business Valuation Discounted Cash Flow Intangible Assets EBITDA 52

Biz Equity

APRIL 13, 2023

Evolving Restaurant Outcomes from 2020 to 2021 Based on the improving fundamentals during 2021, the average (mean) asset sale value and equity value for restaurants rose considerably: The average asset sale value rose from $1,417K to $2,152K, or by $735K or 52%. The average equity value rose from $1,415K to $2,243K or by $826K or 58%.

Equity 98

Equity EBITDA Business Valuation Technology 98

RNC

MAY 18, 2025

In the dynamic world of entrepreneurship, startup valuation plays a pivotal role in shaping a company’s future—from fundraising to equity structuring. It also enables startups to gauge their market worth, plan for scalability, and decide when and how to raise funds or dilute equity. Uses multiples like revenue, EBITDA, or users.

Discounted Cash Flow 52

Discounted Cash Flow Comparable Company Analysis Equity Intangible Assets 52

Benzinga

MARCH 4, 2024

Equipment rental company United Rentals, Inc (NYSE: URI ) has entered into a definitive agreement to acquire Yak Access, LLC, Yak Mat, LLC and New South Access & Environmental Solutions, LLC from Platinum Equity for approximately $1.1 For the year ended December 31, 2023, Yak generated $171 million of adjusted EBITDA on $353.

EBITDA 64

EBITDA Equity 64

Benzinga

MAY 15, 2023

BP plc (NYSE: BP ) subsidiary, BP Products North America Inc., completed the previously announced acquisition of TravelCenters of America Inc (NASDAQ: TA ) for $1.3 The acquisition price represented an 84% premium to the average trading price of the 30 days of $46.68 ending February 15.

EBITDA 52

EBITDA Equity Marketability 52

Musings on Markets

FEBRUARY 12, 2025

If you are a shareholder in a company, i.e., an equity investor, the measure that best reflects the profits the company made on the equity you invested in them is the earnings per share. The EBITDA margin is an intermediate stop, and it serves two purposes.

Equity 74

Equity Start-ups Banking EBITDA 74

Benzinga

MAY 10, 2022

First quarter Adjusted EBITDA 1 of $0.4 We grew our revenue 75% on a year-over-year basis and continued to deliver positive Adjusted EBITDA while simultaneously making key investments that are geared toward driving long-term growth and enhancing shareholder value.". Adjusted EBITDA 1 was $0.4 million in equity.

EBITDA 40

EBITDA Intangible Assets Treasury Start-ups 40

Benzinga

AUGUST 31, 2023

Watts Water Technologies Inc (NYSE: WTS ) penned a deal to acquire Bradley Corporation for $303 million. The transaction value comes to around $268 million after adjusting for the estimated net present value of expected tax benefits of about $35 million.

Net Present Value 52

Net Present Value EBITDA Technology Marketability 52