Credit Suisse Investment Banking Pitch Book
CONFIDENTIAL
Iverson Financial Analysis
(5 in millions)
CY2004 PF Revenues
CY2006E Revenues
CY2004 PF EBITDA
CY2005E EBITDA
CY2004 PF Unlevered Nil
CY2005E Unlevered Ni
$7,500
$7,000
$6.500
$6,000
$5,500
CREDIT FIRST
SUISSE BOSTON
$5,000
$4,500
$4,000
$3,500
$3,000
$2,500
Statistic
$2.432
2.612
544
593
Iverson Enterprise Value Reference Range
Comparable
Transaction
Analysis
207
244
Comparable
Company Analysis
1.8x
1.6x
7.9x
7.2x
$5,500
20.8x
17.6x
$4,300
2.3x
2.1x
10.1x
9.3x
$6,000
26 6x
22.5
$4,700
1.9%
1.8x
8.6x
7.9x
2.5x
2.3x
22.7x
19,2x
11.0x
10.1x
Discounted Cash
Flow Analysis
$6,900
$5,500
29.0x
245
All Iverson financial information provided by Soler management 2004 operating statistics pro forma for BRUT divestiture and OSSI, Vivista, Integrity and RRI acquisitions
2.3x
21x
10.1x
9.3x
..
26.6x
225,
2.8x
2.6x
12.7x
11.6x
33.4x
28.2x
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