Financial Modeling for Private Equity
Learn to Build the Exact Model I use with Middle Market Private Equity Firms All Over the Country
"As an analyst just over a year into the job, this resource has been an absolute game-changer."
★★★★★
I hate scrolling forever to find the key things I want to know. Here it is:
What's it cost?
$299
What if I don't like it?
30-Day, 100% Money Back Guarantee.
Does anyone with any credibility like it?
Yes. It is featured on Wall Street Prep and was the foundation for FTI Consulting's New Hire Training.
Scroll down for the plot, reviews, overview video, and full curriculum
Used by middle market private equity firms across the United States, Private Equity professionals around the world, and taught by the same instructor who created the new hire training program for FTI Consulting.
"Best money ever spent. LBO modeling classes don't get any better than this one right here. The model goes beyond in depth, and Chris delivers incredible insight as to how an actual PE professional thinks and analyzes real life deals (probably because unlike most other LBO class instructors, Chris has actual industry experience). Not to mention, if you actually need help or can't figure something out, Chris is available to step in and help. This course is an incredible find and worth every penny."
★★★★★
He needs a recommendation from you on whether or not to move forward with a deal, and needs it tonight.
You've got...
As luck would have it, the Partner is about to get on a plane and is unreachable until morning.
What do you do?
A step-by-step video course of a detailed LBO model that mirrors a real-life scenario.
Together, we will provide a recommendation to the Managing Partner by answering the seemingly simple yet loaded question:
“Is this deal financeable, and what do the returns look like?”
Working from the limited information we gathered on the call, it will be on us to create defensible assumptions for the rest of our team to rely on.
"I had the pleasure of going through your course and have learned a ton. We plan to implement the monthly model you put together as a way to analyze our deals moving forward."
★★★★★
This is a detailed LBO financial model built in Excel
It is a lower-middle market transaction based in the United States
The total duration of the course is 13 hours
Videos are broken down into short manageable segments averaging seven minutes each
"I finally understand what I am doing now. I am prepping for PE interviews; when I looked at some old, real interview modeling tests a colleague sent me, I laughed because those tests seem so simplistic in comparison."
★★★★★
Be comfortable and proficient with Excel
Have a general understanding of private equity
Have a general understanding of GAAP accounting
An intro to Excel
An intro to private equity (though we cover some basics)
"This course is fantastic and has the precise level of complexity to keep everything interesting while still challenging one's knowledge and Excel skills. The creator has done a wonderful job of creating bite-size nuggets of information for maximum understanding."
★★★★★
Build a five-year model by MONTH (and we’ll talk about why a MONTHLY MODEL is so important)
Forecast an Income Statement with Revenue, COGS, Variable and Fixed Costs
Layer “Pro-forma Adjustments” into the Income Statement to normalize expense forecasting
Create a “multi-tiered” EBITDA schedule that mirrors a Quality-of-Earnings or “QofE” Report
Forecast the Balance Sheet and Statement of Cash Flows
Create a Net Working Capital Schedule and discuss the Net Working Capital Target
Build Capital Expenditure and Depreciation Schedules
Build the Sources and Uses for the transaction
Create a “Pro-forma Balance Sheet” that reflects the new capital structure of the company
Build a Debt Schedule with a Cash Flow Sweep that pays down debt in order of priority
Model Debt Covenants for the Current Ratio, Fixed Charge Coverage Ratio, and Leverage Ratio
Build a Returns Schedule for the Limited Partners, the Seller, and the Private Equity Firm
Create printable, one-page Summaries that show the next 12 months as well as each year
Create a printable, one-page list of Assumptions that updates automatically as we change the model
Send the Managing Partner an email that formalizes our recommendation
"Even as a seasoned financial professional (IB + Corp. Dev) with a variety of modeling experience and a graduate degree in finance, I found myself furiously jotting notes and having "a-ha" moments that will stay with me throughout my career."
★★★★★
Look, I get that it's not the shortest video in the world (we are building an Excel model, after all), but it allows you to see the entire course from start to finish, so you know exactly what to expect.
"If you have been introduced to LBO modeling this will take you to the next level."
★★★★★
Not Just How, but WHY
Are you prepared to walk into your morning meeting and tell the Partners whether they should (or should not) move forward with a deal, and stand behind your convictions?
Throughout the course, we discuss the "business owner thinking" that is critical to survive in private equity, so that you can be a leader on your team.
Imagine, the Managing Partner could either...
Have a missed call from you asking to clarify a few things he already said on the phone, or...
Receive a detailed recommendation of whether or not to move forward with the deal, along with a proposed financing structure, estimates on business performance and stakeholder returns, all complete with printable one-page summaries he can bring to the meeting.
Which employee do you think he is likely to keep?
"My greatest takeaway and one of the true value drivers of the class is how to create a model that is friendly to the end users who can easily understand exactly what the model is accomplishing and how."
★★★★★
Which Includes...
13 hours of video content broken down into small manageable segments
30-Day, 100% Money Back Guarantee (but please give it an honest try)
Lifetime video access (start and stop on your timeline, there's no expiration)
A "from-the-ground-up" LBO model that is yours to keep
Downloadable files along the way in case you get stuck
Discussion board for every video
Direct one-on-one email support with the instructor (I actually reply to emails)
A true behind-the-scenes look at a deal in the lower-middle-market
Completion Certificate
Awesome differentiator for your next interview
See What Other Students Have Said
As an analyst just over a year into the job, this resource has been an absolute game-changer. The instructor, as expected eloquently walks you through the t...
Read MoreAs an analyst just over a year into the job, this resource has been an absolute game-changer. The instructor, as expected eloquently walks you through the technical aspects of building the model but what separates this course from rest is that they consistently take a step back and iterate the fact that the model is ultimately a means to an end. A tool to answer a couple of key questions posed by an MP when canvassing a potential investment. Is the deal financeable? How do the returns look? As you progress through the model, the instructor recognizes the fact that each section attributes to a specific set of stakeholders. This is where their experience really melds into the course as they outline the motivation and potential conflicts of interest between stakeholders and walk you through ways to best navigate the situation such that the deal under review is not only viable but works out best for all parties concerned. All in all, I'm convinced that this course gave me the impetus to change my mindset to a more entrepreneurial one. I'd recommend this course to anyone of my peers without hesitation.
Read LessLBO modeling classes don't get any better than this one right here. The model goes beyond in depth, and Chris delivers incredible insight as to how an actual...
Read MoreLBO modeling classes don't get any better than this one right here. The model goes beyond in depth, and Chris delivers incredible insight as to how an actual PE professional thinks and analyzes real life deals (probably because unlike most other LBO class instructors, Chris has actual industry experience). Not to mention, if you actually need help or can't figure something out, Chris is available to step in and help. This course is an incredible find and worth every penny.
Read LessThe level of detail to this course is incredible. I am prepping for PE interviews; when I looked at some old, real interview modeling tests a colleague sent ...
Read MoreThe level of detail to this course is incredible. I am prepping for PE interviews; when I looked at some old, real interview modeling tests a colleague sent me, I laughed because those tests seem so simplistic in comparison. While other potential interviewees will be memorizing basic LBO templates and their formulas, this course takes you step-by-step and explains why each formula works the way it does. Additionally, it teaches you how to deal with hitting dead-ends, making educated guesses, thinking like an investor, and other topical mental exercises. Thanks, Chris! I am glad I took this course.
Read LessThis course is fantastic and has the precise level of complexity to keep everything interesting while still challenging one's knowledge and Excel skills. The...
Read MoreThis course is fantastic and has the precise level of complexity to keep everything interesting while still challenging one's knowledge and Excel skills. The creator has done a wonderful job of creating bite-size nuggets of information for maximum understanding. Will recommend to others.
Read LessThis Financial Modeling for Private Equity course is extremely detailed, thorough, and informative, and I'm giving it 5 stars because even as a seasoned fina...
Read MoreThis Financial Modeling for Private Equity course is extremely detailed, thorough, and informative, and I'm giving it 5 stars because even as a seasoned financial professional (IB + Corp. Dev) with a variety of modeling experience and a graduate degree in finance, I found myself furiously jotting notes and having "a-ha" moments that will stay with me throughout my career. I feel better prepared to take on future modeling challenges, and can now confidently add LBOs to my modeling arsenal. Well worth the money and I can't wait for more content!
Read LessExcellent course to gain a solid foundation in PE. The instructor is clearly very knowledgeable on the industry and does an excellent job laying out the step...
Read MoreExcellent course to gain a solid foundation in PE. The instructor is clearly very knowledgeable on the industry and does an excellent job laying out the steps required to create an LBO model. By far the best part of the course was when the instructor took a step back and analyzed things from the perspective of an investor. Often times analysts get caught up in just preparing the model and crunching numbers. Chris does a great job stepping back and explaining the bigger picture and how an MD would look at the results of the model and what decisions that would drive. Overall, I highly recommend this course for someone looking to gain an understanding in PE and PE modeling.
Read LessThis class is an excellent bridge from classroom high level finance concepts to actual real world scenarios. The steady pace allows the user to absorb the ma...
Read MoreThis class is an excellent bridge from classroom high level finance concepts to actual real world scenarios. The steady pace allows the user to absorb the material without losing interest. Based on a decade of experience in PE, I've learned that modeling can be both art and science. What I enjoyed the most was Chris's ability to blend advanced excel formulas (science) into the deal and explain the theory (art) behind the assumptions. My greatest takeaway and one of the true value drivers of the class is how to create a model that is friendly to the end users who can easily understand exactly what the model is accomplishing and how. I recommend this class to all excel users, but especially to folks new to the industry that want a big leg up on their peers day one.
Read LessI really enjoyed taking this course and I found that there are two key characteristics of this course that make it stand out among other PE courses : (1) ...
Read MoreI really enjoyed taking this course and I found that there are two key characteristics of this course that make it stand out among other PE courses : (1) It has more than pure excel modeling. The course walks you through the life of a PE analyst very closely. Besides modeling, you would also have a phone call with your MD, draft a question list to an IB analyst and write a recommendation mail summarizing your analysis. Also, it makes you take a big picture perspective and realize that Excel is a tool for the actual deal to happen. (2) Yet the model that you would build is a very precise copy of what actual PE analysts are doing and therefore it requires you to invest a significant amount of time to complete. You would start with a dirty dataset sent by a target's management team and make a full operating model that is used to support LBO deals. The course has around 10 hours of video content and you will get the most value doing the modeling alongside the videos.
Read LessIf you have been introduced to LBO modeling this will take you to the next level. Definitely picked up some good techniques to use on my models. Debt re-paym...
Read MoreIf you have been introduced to LBO modeling this will take you to the next level. Definitely picked up some good techniques to use on my models. Debt re-payment and waterfall were the highlights for me.
Read LessChris walks you through a thorough, detailed and rigorous model that covers all the aspects a PE deal can reasonably encounter. I have been literally fascina...
Read MoreChris walks you through a thorough, detailed and rigorous model that covers all the aspects a PE deal can reasonably encounter. I have been literally fascinated by the professionalism and hands-on views of Chris when reviewing the model. I learned a lot and definitely it helped me understand many aspects of PE deals. Thank you so much for this valuable course which I strongly recommend to anyone interested in PE.
Read LessI work in FP&A and found this course extremely helpful even though it's done from a PE perspective. I might get to work on an acquisition later on where ...
Read MoreI work in FP&A and found this course extremely helpful even though it's done from a PE perspective. I might get to work on an acquisition later on where all the transaction stuff could be more useful, but the modeling and excel part of the course is super helpful in my current work. So, don't get scared of the Private Equity in the course name. If you work in FP&A or occasionally might do some modeling (the Excel kind), this course is a no-brainer. Huge value for the money!
Read LessThis course is fantastic and has the precise level of complexity to keep everything interesting while still challenging one's knowledge and Excel skills. The...
Read MoreThis course is fantastic and has the precise level of complexity to keep everything interesting while still challenging one's knowledge and Excel skills. The creator has done a wonderful job of creating bite-size nuggets of information for maximum understanding. Will recommend to others.
Read LessHi, I'm Chris, and I sincerely appreciate your interest in this course. I've spent over half my career in private equity and have done buyouts, growth equity, venture deals, start-ups, and even founded a couple businesses along the way.
I've seen several deals through to completion, deals fizzle for one reason or another, and deals go down in flames, and have learned a ton along the way.
I created this course because the truth is when I first started out in private equity I struggled. Sure, I was an Excel whiz and was great at creating fancy models, but I didn't know how to think like a business owner or investor, and that disposition just isn't survivable in private equity.
Private equity firms are on the clock on a daily basis to return capital to their investors, and they need employees who have an entrepreneurial mindset, can think like business owners, and can produce solutions instead of getting snagged on problems.
If you choose to enroll in this course, it is my hope that I can create a shift in your thinking to use Excel as a tool to help you think like a business owner (the knowledge I wish I had when I first started), and hopefully pick up a few Excel tips along the way.
Last thing — several people have asked me if I do consulting. Yes. I do. I can help with financial modeling, M&A, budgeting, cash flow forecasting, etc. Here's the link to my consulting website if needed.
If you think this might be cool but just don't know yet, all good I get it. You can follow me on LinkedIn to get to know me — I post on there everyday.
Otherwise, keep reading — the entire curriculum is below...
"I'm convinced that this course gave me the impetus to change my mindset to a more entrepreneurial one. I'd recommend this course to anyone of my peers without hesitation."
★★★★★
(Here's what you'll see after you enroll)
1 Intro & About Me
2 Course Overview
3 Private Equity Overview
4 MP Call
5 WST Macros (see text for 2023 update ⤵️)
6 Raw Data Pt1
7 Raw Data Pt2
8 Raw Data Pt3
9 Statement of Cash Flows Pt1
10 Statement of Cash Flows Pt2
11 EBITDA Overview
12 EBITDA, As Defined
13 EBITDA Management Adjustments
14 EBITDA Diligence Adjustments Pt1
15 EBITDA Diligence Adjustments Pt2
16 EBITDA Diligence Adjustments Pt3
17 Income Statement Forecast Build
18 Income Statement Forecast Overview
19 Income Statement Forecast Revenue
20 Income Statement Forecast Gross Profit & COGS
21 2015 Pro Forma Adjustments
22 2016 Pro Forma Adjustments
23 SG&A Analysis
24 Variable Expense Build
25 Fixed Expense Build
26 New Hire Build
27 Tax Expense & Income Statement Zoom Out
28 Balance Sheet Build
29 NWC Layout
30 NWC DSO & AR
31 NWC DPO & DOH
32 NWC Prepaid & Accrued Expenses
33 NWC Ratio
34 NWC Inventory Turnover
35 NWC Cash Conversion Cycle
36 NWC Target
37 Depreciation & Capex Pt1
38 Depreciation & Capex Pt2
39 Depreciation & Capex Pt3
40 Quick Clean Up
41 Bonus Accrual Pt1
42 Bonus Accrual Pt2
43 Bonus Accrual Pt3
44 Tax Accrual Pt1
45 Tax Accrual Pt2
46 Balance Sheet Follow-up Questions
47 Transaction Overview
48 Purchase Price Build
49 Sources & Uses Layout
50 Debt Sources
51 Known Inputs & Fees
52 Finishing Sources & Uses
53 Pro Forma Equity
54 Blended Cash Interest
55 Pro Forma Balance Sheet Overview
56 Pro Forma Balance Sheet Layout
57 Multiples with Fees
58 Pro Forma Balance Sheet Sources
59 Pro Forma Balance Sheet Uses
60 NewCo IS Adjs
61 NewCo BS Adjs
62 NewCo SCF Adjs
63 NewCo IS Fill-Ins
64 NewCo BS Fill-Ins Retained Earnings
65 NewCo BS Fill-Ins Equity
66 NewCo BS Fill-Ins Debt
67 NewCo BS Fill-Ins CircFix on Cash
68 NewCo BS Fill-Ins Def Fees & Goodwill
69 NewCo BS Fill-Ins Cash & Cleanup
70 Check Build
71 Debt Schedule Layout
72 Cash Flow Sweep Layout
73 Cash Flow Sweep Build
74 Revolver Layout
75 Revolver Build Pt1
76 Revolver Build Pt2
77 Revolver Build Pt3
78 Revolver Build Pt4
79 Senior Build Pt1
80 Senior Build Pt2
81 Senior Build Pt3
82 Senior Build Pt4
83 Mezz Build Pt1
84 Mezz Build Pt2
85 Def Fin Fees
86 Debt Schedule Link Up
87 Circularity Breaker
88 Home Stretch Clean Up
89 Covenant Layout
90 Current Ratio Covenant
91 FCCR Covenant Layout
92 FCCR Covenant Build Pt1
93 FCCR Covenant Build Pt2
94 Leverage Ratio Layout
95 Leverage Ratio Build
96 Returns Overview
97 Global Waterfall Layout
98 Global Waterfall Debt Payoff
99 Global Waterfall Preferred Equity
100 Global Waterfall Common
101 LP Waterfall Layout
102 LP Waterfall Build
103 Equity Return Layout
104 LP Return Build
105 Seller Return Build
106 Sponsor Return Build
107 Final Clean Up
108 Monthly Summary Pt1
109 Monthly Summary Pt2
110 Monthly Summary Pt3
111 Annual Summary
112 Assumptions
113 Recommendation Prep
114 Final Recommendation
115 Recommendation Email
116 Epilogue & Thank You
"I found your private equity modeling course so thorough and helpful. Probably the best course on modeling I’ve taken."
★★★★★