Leveraged Buyouts (Online)
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Ensure the Success of Your LBO
Designed for investment and finance professionals, this program can help you build a comprehensive understanding of leveraged buyouts and the process of completing them. As a participant, you’ll learn how to evaluate a potential LBO opportunity and how to effectively execute the deal.
Key Takeaways
By the end of the program, you will be able to:
Recognize why organizations perform LBOs
Explain how different aspects of the LBO process work for stakeholders
Differentiate the financial instruments used to fund an LBO
Determine how to access the leveraged credit and private equity markets that underwrite LBOs
Evaluate the risk and potential success of LBO deals
Determine how to successfully execute LBO deals
Who Should Attend?
Investment professionals looking to understand how to evaluate LBO deals and execute them effectively
Mid-level to senior finance professionals looking to build a comprehensive understanding of the leveraged buyout process and to the markets (leveraged credit and private equity) that underwrite them
Program Modules
This program provides a structured understanding of leveraged buyouts, from how to evaluate potential LBO candidates to how to successfully execute a buyout. Along the way, you’ll explore real-world case studies that highlight potential pitfalls and the elements required for success.
Explore the features, benefits, and critical elements necessary for a profitable LBO and the laws and regulations that govern them.
Identify the components of an LBO
Recognize the possible risks and rewards of completing a leveraged buyout
Identify the key factors necessary for a leveraged buyout to be successful
Understand how to evaluate an LBO deal and determine the right price for the transaction.
Identify the key characteristics of an ideal LBO candidate from a private equity perspective
Evaluate the soundness of a leveraged buyout using business valuation, cashflow forecasts, human-capital valuation, and the analysis of future returns and ROI
Identify strategies for avoiding bias in the valuation of an LBO deal
Understand different types of debt options available and learn how to structure leveraged transactions, including identifying the appropriate amount of debt.
Differentiate the types of credit instruments used to finance LBOs
Recognize the risks and rewards of different debt options and when in a credit cycle each is likely to be available to an organization
Determine how to structure leveraged transactions, including identifying the appropriate amount of debt
Identify how the recovery values for different stakeholders may differ when an organization defaults on different types of credit instruments
Explore the history of leveraged credit markets and understand the availability of financing for LBOs at various points of the credit cycle (boom, bust, indifferent).
Analyze how the metrics used by credit investors affect availability cost and structure for the credit component of LBO financing
Determine the current point in the credit cycle and whether the markets are open to LBO financing
Examine the methods credit investors use to analyze an investment opportunity for the various financing instruments in an LBO as well as the LBO’s credit quality.
Calculate free cash flow available to service the principal on outstanding debt
Develop assumptions for a base and downside forecast
Determine whether an LBO generates free cash flow using a baseline case and a downside forecast
Analyze how completed forecasts affect key credit analysis ratios
Delve into the investment thesis, financing, and exit of one of the largest LBOs on record, with a focus on how investors on both sides of the balance sheet fared.
Analyze the key elements of an investment thesis that guides a successful LBO
Recommend financing strategies for LBO candidates that are more likely to lead to a successful outcome
Identify best practices for exiting an LBO
Program Experience
Real-World Case Studies
Through real-world case studies and examples from multiple organizations and industries, you'll explore the realities of leveraged buyouts and the factors that can lead to failure or drive success. Examples include:
Dynacast
Imagine that you are a principal in the private equity group at Partners Group (PG), a global private markets investment organization, in 2014. In the Dynacast: Solid, Middle-Market LBO case study, your group is investing in Dynacast, a small global manufacturer of high-quality metal components. Through this case, you’ll gain real-world experience in evaluating the soundness of an LBO deal and compiling a summary report for your team and managing director to present to the bankers for the transaction.
HCA
As one of the largest leveraged buyouts on record, the HCA LBO was a home run for all constituents: private equity sponsors, creditors, and management. This case serves as the foundation for the final module of the program and takes a deep dive into its investment thesis, financing, and exit, and it provides an example of what a good LBO for both private equity sponsors and creditors looks like.
Program Faculty
Senior lecturer in Discipline in Business; finance director in the Private Equity Program; and Bernstein Faculty Leader at the Sanford C. Bernstein & Co. Center for Leadership...
Adjunct Associate Professor, Finance Adjunct Faculty, Heilbrunn Center for Graham and Dodd Investing
Certificate
Upon completion of the program, participants will receive a certificate of participation from Columbia Business School Executive Education and two days toward a Certificate in Business Excellence.
Your verified digital certificate will be issued in your legal name and emailed to you, at no additional cost, upon completion of the program as per the stipulated requirements. All certificate images are for illustrative purposes only and may be subject to change at the discretion of Columbia Business School Executive Education.
Why Columbia Business School?
Educating the Business Leaders of Today and Tomorrow
Consistently ranked as one of the top business schools in the world for finance, Columbia Business School has worked exclusively with Emeritus to develop and deliver this six-week Leveraged Buyouts (Online) program. This program leverages Columbia's thought leadership, developed over years of research, teaching, and practice. By partnering with Emeritus, Columbia Business School is able to broaden access beyond our on-campus offerings in a collaborative and engaging format that stays true to the quality of Columbia Business School Executive Education and Columbia as a whole.
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FAQs
How do I know if this program is right for me?
After reviewing the information on the program landing page, we recommend you submit the short form above to gain access to the program brochure, which includes more in-depth information. If you still have questions on whether this program is a good fit for you, please email learner.success@emeritus.org, and a dedicated program advisor will follow-up with you very shortly.
Are there any prerequisites for this program?
Some programs do have prerequisites, particularly the more technical ones. This information will be noted on the program landing page, as well as in the program brochure. If you are uncertain about program prerequisites and your capabilities, please email us at the ID mentioned above.
Note that, unless otherwise stated on the program web page, all programs are taught in English and proficiency in English is required.
What is the typical class profile?
More than 50 percent of our participants are from outside the United States. Class profiles vary from one cohort to the next, but, generally, our online certificates draw a highly diverse audience in terms of professional experience, industry, and geography — leading to a very rich peer learning and networking experience.
What other dates will this program be offered in the future?
Check back to this program web page or email us to inquire if future program dates or the timeline for future offerings have been confirmed yet.
How much time is required each week?
Each program includes an estimated learner effort per week. This is referenced at the top of the program landing page under the Duration section, as well as in the program brochure, which you can obtain by submitting the short form at the top of this web page.
How will my time be spent?
We have designed this program to fit into your current working life as efficiently as possible. Time will be spent among a variety of activities including:
Engaging with recorded video lectures from faculty
Attending webinars and office hours, as per the specific program schedule
Reading or engaging with examples of core topics
Completing knowledge checks/quizzes and required activities
Engaging in moderated discussion groups with your peers
Completing your final project, if required
The program is designed to be highly interactive while also allowing time for self-reflection and to demonstrate an understanding of the core topics through various active learning exercises. Please email us if you need further clarification on program activities.
What is it like to learn online with the learning collaborator, Emeritus?
More than 300,000 learners across 200 countries have chosen to advance their skills with Emeritus and its educational learning partners. In fact, 90 percent of the respondents of a recent survey across all our programs said that their learning outcomes were met or exceeded.
All the contents of the course would be made available to students at the commencement of the course. However, to ensure the program delivers the desired learning outcomes the students may appoint Emeritus to manage the delivery of the program in a cohort-based manner the cost of which is already included in the overall course fee of the course.
A dedicated program support team is available 24/5 (Monday to Friday) to answer questions about the learning platform, technical issues, or anything else that may affect your learning experience.
How do I interact with other program participants?
Peer learning adds substantially to the overall learning experience and is an important part of the program. You can connect and communicate with other participants through our learning platform.
What are the requirements to earn the certificate?
Each program includes an estimated learner effort per week, so you can gauge what will be required before you enroll. This is referenced at the top of the program landing page under the Duration section, as well as in the program brochure, which you can obtain by submitting the short form at the top of this web page. All programs are designed to fit into your working life.
This program is scored as a pass or no-pass; participants must complete the required activities to pass and obtain the certificate of completion. Some programs include a final project submission or other assignments to obtain passing status. This information will be noted in the program brochure. Please email us if you need further clarification on any specific program requirements.
What type of certificate will I receive?
Upon successful completion of the program, you will receive a smart digital certificate. The smart digital certificate can be shared with friends, family, schools, or potential employers. You can use it on your cover letter, resume, and/or display it on your LinkedIn profile. The digital certificate will be sent approximately two weeks after the program, once grading is complete.
Can I get the hard copy of the certificate?
No, only verified digital certificates will be issued upon successful completion. This allows you to share your credentials on social platforms such as LinkedIn, Facebook, and Twitter.
Do I receive alumni status after completing this program?
No, there is no alumni status granted for this program. In some cases, there are credits that count toward a higher level of certification. This information will be clearly noted in the program brochure.
How long will I have access to the learning materials?
You will have access to the online learning platform and all the videos and program materials for 12 months following the program start date. Access to the learning platform is restricted to registered participants per the terms of agreement.
What equipment or technical requirements are there for this program?
Participants will need the latest version of their preferred browser to access the learning platform. In addition, Microsoft Office and a PDF viewer are required to access documents, spreadsheets, presentations, PDF files, and transcripts.
Do I need to be online to access the program content?
Yes, the learning platform is accessed via the internet, and video content is not available for download. However, you can download files of video transcripts, assignment templates, readings, etc. For maximum flexibility, you can access program content from a desktop, laptop, tablet, or mobile device.
Video lectures must be streamed via the internet, and any livestream webinars and office hours will require an internet connection. However, these sessions are always recorded, so you may view them later.
Can I still register if the registration deadline has passed?
Yes, you can register up until seven days past the published start date of the program without missing any of the core program material or learnings.
What is the program fee, and what forms of payment do you accept?
The program fee is noted at the top of this program web page and usually referenced in the program brochure as well.
Flexible payment options are available (see details below as well as at the top of this program web page next to PROGRAM FEE.
Tuition assistance is available for participants who qualify. Please email learner.success@emeritus.org.
What if I don’t have a credit card? Is there another method of payment accepted?
Yes, you can do the bank remittance in the program currency via wire transfer or debit card. Please contact your program advisor, or email us for details.
I was not able to use the discount code provided. Can you help?
Yes! Please email us with the details of the program you are interested in, and we will assist you.
How can I obtain an invoice for payment?
Please email us your invoicing requirements and the specific program you’re interested in enrolling in.
Is there an option to make flexible payments for this program?
Yes, the flexible payment option allows a participant to pay the program fee in installments. This option is made available on the payment page and should be selected before submitting the payment.
How can I obtain a W9 form?
Please connect with us via email for assistance.
Who will be collecting the payment for the program?
Emeritus collects all program payments, provides learner enrollment and program support, and manages learning platform services.
Are there any restrictions on the types of funding that can be used to pay for the program?
Program fees for Emeritus programs with Columbia Business School Executive Education may not be paid for with Title IV financial aid funds. Participants may be able to pay the program fee with funds from the GI Bill, the Post-9/11 Educational Assistance Act of 2008, or similar types of military education funding benefits. Participants must contact the Columbia University’s Office of Military and Veterans Affairs to determine benefit eligibility.
What is the program refund and deferral policy?
For the program refund and deferral policy, please click the link here.
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Didn't find what you were looking for? Write to us at learner.success@emeritus.org or Schedule a call with one of our Program Advisors or call us at +1 315 387 4431 (US) / +44 203 838 0836 (UK) / +65 3138 4449 (SG)
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