M&A Modelling

Modelling and Excel

M&A Modelling

  • LEVEL:Advanced
  • PRICE:7500.00

    This programme provides participants with a thorough and practical exploration of techniques for modelling and analysing LBO transactions in Excel. The programme is delivered almost entirely ‘through the spreadsheet’ with participants working in Excel building models for most of the time.

    The programme goes beyond mechanical aspects of model construction and explores the key issues behind transactions being modelled. It considers acquisition models for both share and asset purchase (‘debt and cash free’); deals and covers both full and partial control transactions, as well as modelling joint venture and Associate investments.

    Relevant IFRS transaction accounting is covered in detail before each modelling exercise and emphasis is placed on allowing for different offer prices and structures and incorporating details of any debt component of deal consideration. Full and partial disposal transactions, including IPO, spin offs, split ups and carve out structures, are covered. Incorporating transaction analysis, including forecasting and valuation of synergies, EPS accretion/dilution, contribution analysis, RoIC (standalone, transaction and pro-forma), analysis at various offer prices, pro-forma credit metrics and forecast rating and valuation of the pro-forma post-transaction entity, is covered in detail.

    After this course, participants will be able to:

    • Develop their Excel skills including modelling best practice, advanced function knowledge, short-cuts and power user tips, model design, model audit and integrity checking.
    • Understand the correct accounting treatments for various acquisition and disposal transactions.
    • Acquire a robust understanding of the sequence for building an effective transaction model and the linkages between the various statements and schedules.
    • Know how to add scenario analysis to a transaction model.
    • Develop knowledge of key analytical ratios – how to calculate them correctly and how to interpret the results.
    • Understand how to build complex debt schedules using a waterfall approach.
    • Know how to calculate the key transaction metrics (exit EV, % ownership of enlarged analysis, accretion/dilution, RoIC, contribution analysis, credit metrics etc).

    Any bankers working in roles that require them to build or analyse financial models of corporate acquisitions or disposals, in particular the course is relevant for corporate bankers, research analysts, corporate finance bankers, credit analysts and debt and equity capital markets professionals.


    Reasonable familiarity with Excel, good knowledge of accounting and financial statement analysis.

Please contact the Academy if you are interested in attending this course.