And, Subliminally, Here Come The LBOs
It is that time again: the latest version of the Goldman LBO model is circulating (the primer is below). The last time this was popular was April of 2007, right before the LBO bubble went "pop." Maybe this is the subliminal way for Goldman to advise their clients that PE deals are back. After all, as disclosed earlier, there is a lot of dry powder out there. Yet what is missing? A catalyst, in the form of Goldman screaming Ready, Steady, Go.
The primer is enclosed, and, as one can imagine, there is an associated excel model too, full of highly irrelevant EV and Debt/EBITDA multiples - relax, all of them are too high, yet somehow there are 100%+ IRR cases, although the companies likely have any financing already long locked up with GS in the case of a buyout.