Publicação
Private equity challenge: Investment Committee Paper of Technogym - capital structure
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Autores
Orientador(es)
Resumo(s)
Technogym is an industry leading fitness equipment manufacturer operating in more than 100
countries. It has a strong and consistent cashflow generation, providing a good leveraged buyout
(LBO) target. Its €159M Adjusted EBITDA over the last 12 months marks an historical high.
Value creation potential stems from stores and partnerships expansion, entry into sports
nutrition via M&A and further organic growth. An entry Multiple of 13.3x implies an enterprise
value of €2,1B. With 6.3x of leverage, the LBO model delivers a 3.3x Money Multiple and
24.5% IRR over a 5.5-year investment horizon.
Descrição
Palavras-chave
Investment Committee Paper Private equity LBO Fitness equipment Technogym