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Mid-Market Private Equity Fund
An independent practice case, not supplied or endorsed by the named firm.
Use a public-information pack to build a take-private LBO, develop four operating cases and recommend an offer price.
Use a public-information pack to build a take-private LBO, develop four operating cases and recommend an offer price. Value the three divisions using listed peers and assess whether the fund should approach the board. This is a self-paced take-home case.
The partner's note is short. Since the profit warning, Wolverdene's board has put the group under strategic review, and trade buyers are expected to circle individual divisions; the fund is interested only in the group as a whole. The partner knows the CFO but will not call until the deal team has an answer: at what price, if any, does a take-private work for the fund, and is it worth the call?
You have the latest balance sheet, five years of divisional results, broker consensus to 2030, the size of each division's market, a set of listed peers, a SONIA forward curve and the deal team's working assumptions on price and financing. There is no management case: you build the cases yourself. The fund's investment committee requires a 20% IRR in the base case.
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