M&A and LBO Modeling Program

The objective of this program is to equip delegates with the expertise and insight required to develop a fully integrated M&A and LBO model and perform financial debt analysis.

Watch our expert financial modeler, Rahul Sonthalia, CFA, CMA provides a keen insight into how you can build a financial model on excel, starting from a blank spreadsheet through our 3-day program.

Learning Objectives


Understand and develop a merger model


Prepare proforma group financial statements


Perform financing mix and accretion dilution analysis


Understand and develop an LBO deal analysis model


Prepare flexible debt schedules for different sources of debt


Who is it for?

The course is suitable for anyone who wants to learn advanced financial modeling. Professionals working or aspiring to work in the field of investment banking, private equity, sovereign wealth funds, corporate finance, corporate banking and transaction advisory can enroll for this course.

Program Agenda

Introduction to M&A Modeling

Overview of a real life M&A transaction
Setting up a M&A Model: Calculating Sources and uses of funds

Preparing Pro forma Financial Statements

Introduction to M&A accounting
Accounting for sources and uses of funds
Forecasting acquirer & targets key financials
Consolidating financial statements

M&A Model output

EPS Accretion-Dilution Analysis
Contribution Analysis
Post transaction P/E requirement for breakeven


Sensitivity Analysis using data tables

Introducing the case study company

Model design and structure for the case study company
Know the key model outputs and their drivers
Understand the requisite inputs
Developing cell styles for model transparency and review

Introduction to LBO Modeling

Understanding characteristics of a good LBO candidate
Forecasting the operating cash flows of the LBO target
Target’s enterprise value and uses of funds

Various Sources of Funds

Senior Debt (Term Loan A, B, etc.)
High yield , Mezzanine, PIK and Shareholder loan
Revolving line of credit


Preparing flexible debt and interest repayment schedules for different sources of funding
Incorporating cash sweep in debt schedules and avoiding circularity
Calculating exit IRR and MOIC for the GP and analyzing the sources of value creation
Scenario and Sensitivity Analysis for analyzing LBO

Large global or regional LBO transaction

Large global or regional public M&A transaction

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