Companion files · The Private Equity-Backed CFO
The Private Equity-Backed CFO: Running Finance for a Sponsor: The First 100 Days, the 13-Week Cash Flow, Covenants, the Value Creation Plan and the Exit, With the Models Supplied.
This is the companion file of the book. A private equity fund buys Brennock Supply, an industrial distributor, for $136.8 million with a unitranche loan at five times EBITDA, and hires a CFO the week after closing. Five years later the company is sold. In between: a working capital peg trued up by $2.13 million, an add-on bought at 6.0 times, a bad year, a lost supplier-rebate tier, a covenant squeezed to 7.8 percent of headroom, a forecast cut three times. One workbook rebuilds the company quarter by quarter and reproduces every figure the book prints. No sign-up, no email is asked for, nothing is locked. Amounts are in millions of US dollars; blue type is an input, black type is a formula.
The archive holds the workbook and 00_START_HERE.md. No macros, no circular references, no external links. It recalculates in Excel, LibreOffice or Google Sheets.
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Chapters 1 to 17 · Appendix A
Revenue, purchases and the supplier rebate tier with its accrual and catch-up, working capital, taxes, the term loan, the delayed-draw term loan and the revolver with interest on opening balances, the excess cash sweep, covenant EBITDA and the leverage test every quarter, the equity cure and the amendment; the compliance certificate of any quarter; the 13-week cash flow of any quarter with its three levers; the exit, the management incentive pool and the CFO's own payout; and the Kittering Labels interview case. A case selector switches between the plan, the actual case, the severe case and the year-3 budget; the Checks sheet sets each printed figure beside the cell that computes it.
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What the file is, which tab answers which chapter, how the case selector works and how to return to the book's figures.
Download the read-me3 KB| The tightest test | Year 4, Q1: covenant EBITDA of $16.10 million against net debt of $74.22 million, leverage 4.61x against a maximum of 5.00x, headroom 7.8 percent; on reported EBITDA alone, 5.05x |
| The 13 weeks | Year 3, Q2: the revolver peaks at $4.89 million in week 8 of a quarter that ends with $2.13 million drawn |
| The exit | Actual case: QoE EBITDA of $23.09 million at 9.0x, $207.8 million of enterprise value, 2.07x the money and 15.7 percent a year for the sponsor; the CFO's own units and co-investment return $1.40 million |
The file is provided as it is, without warranty of any kind. The model is illustrative: Brennock Supply, its sponsor, its lender, its add-on and Kittering Labels are fictional, and the figures are the book's assumptions, not market statistics or forecasts. Nothing here is investment, legal, tax or accounting advice.
Also available as standalone free templates: 13-week cash flow model · working capital peg model.