Private Equity case studies, worked step by step

Cases
100
Traced to a firm
59
Topics
12
Hard
30
Topic
All topicsGrowth equity and software8Returns attribution and value creation8LBO modelling tests9Screening and ranking businesses9Distressed and special situations7Private credit and direct lending9Paper LBOs10Real estate and infrastructure8Portfolio operations and exits6Deal structuring and pricing9Fund, LP and portfolio analytics7Commercial and market cases10
Level
AnyWarm upCoreHard
Source
AnyReported at a firmStandard
Showing 41–50 of 59 · filtered from 100Clear filters
  1. 063Leverage choice: the same business at 10x, financed with 3x or 6x debt at 10%. Work the base case IRR for each, then a downside where EBITDA falls 25% in year 2. Which structure do you choose?Returns attribution and value creationHardAres ManagementLos Angeles · 2026
  2. 064Paper LBO: EBITDA Rs 100 crore bought at 8x with 5x debt. EBITDA grows 8% a year, cash before interest is 45% of EBITDA, all cash after interest repays debt, exit at 8x in year 5. MOIC and IRR?Paper LBOsWarm upWarburg PincusNew York · 2014
  3. 068A shrinking retailer's Rs 400 crore of debt trades at 60 and its equity is valued at Rs 100 crore. Across recovery, restructuring and liquidation, would you rather own the debt or the equity?Distressed and special situationsHardBain CapitalBoston · 2026
  4. 070An incense maker has 6% of its market. Size the market from households up, then test whether the management plan to reach 10% share in five years is credible.Commercial and market casesCoreAdvent InternationalLondon · 2022
  5. 071A branded spices business earns Rs 90 crore of EBITDA at an 18% margin with low capex and stable demand. Is it an LBO candidate, and would a strategic buyer outbid a sponsor that needs a 20% IRR?Screening and ranking businessesCoreWarburg PincusSan Francisco · 2014
  6. 073Cotton costs rise 8% at an apparel maker with Rs 900 crore of revenue, COGS at 55% and a 12% EBITDA margin. What price increase keeps EBITDA flat, what SG&A cut would, and what does each do to the sponsor's IRR?Portfolio operations and exitsCoreSycamore PartnersNew York · 2026
  7. 076You have one hour and five numbers on each of three businesses. Which one would you study further, and what would you ask for first?Screening and ranking businessesCoreViking Global InvestorsNew York · 2025
  8. 077Two-hour three-statement LBO: interest is charged on the average debt balance. Show how year 1 cash, debt and interest link, why that is circular, and prove the balance sheet balances.LBO modelling testsHardKKRLondon · 2025
  9. 078Paper LBO where revenue must be built from furnaces, tonnes and price before any multiple is applied, with a third furnace bought in year 3. Work the return.Paper LBOsCoreBain CapitalBoston · 2024
  10. 079A TV network earns Rs 900 crore from advertising, falling 8% a year, and Rs 400 crore from subscriptions, rising 6%, with 40% of its costs fixed. Project five years of EBITDA and say whether it is a buyout at 6x.Commercial and market casesHardBain CapitalBoston · 2026

Company names and figures are illustrative.