Financial modeling
Models your team can trust, audit and change in the room.
We build the operating and returns models behind acquisitions, add-ons and fundraises, with clear structure and no hard-coded surprises.
Model library
Built for the questions a deal team actually asks.
- Three-statement operating model with monthly or quarterly detail and balanced checks
- DCF and valuation with scenario switches and sensitivity tables
- LBO and returns including sources and uses, debt tranches, cash sweep, covenants and IRR / MOIC by exit year
- Cap table and waterfall modeling preferences, options and management incentive plans
- Add-on and merger models with synergy phasing and pro forma leverage
- Budget and forecast tools for portfolio company reporting
Illustrative output
Sources and uses, with returns that respond to the assumptions.
Sources and uses$M ยท Illustrative
| Sources | Amount | x EBITDA |
|---|---|---|
| Senior term loan | 210.0 | 3.5x |
| Second lien | 60.0 | 1.0x |
| Sponsor equity | 230.0 | 3.8x |
| Total sources | 500.0 | 8.3x |
| Uses | Amount | x EBITDA |
|---|---|---|
| Purchase of equity | 455.0 | 7.6x |
| Refinance net debt | 20.0 | 0.3x |
| Fees and expenses | 25.0 | 0.4x |
| Total uses | 500.0 | 8.3x |
EBITDA of $60.0M assumed. Not a real transaction.
Sponsor IRR by exit year and multipleIllustrative
| Exit multiple | Year 3 | Year 4 | Year 5 |
|---|---|---|---|
| 7.3x | 14.1% | 15.2% | 15.9% |
| 8.3x | 19.8% | 19.4% | 19.1% |
| 9.3x | 25.0% | 23.1% | 21.8% |
Entry at 8.3x. Returns shown net of fees before carried interest.
Modeling standards
Every model we hand over follows the same rules.
Separated inputs
Assumptions live on one sheet, color-coded, with source notes beside each input.
Built-in checks
Balance, cash and circularity checks roll up to a single status cell.
Documented logic
A short guide explains structure, key formulas and how to add a scenario.
Independent review
We also audit models built by others and deliver a list of errors and fixes.