Editorial
Leveraged buyout and acquisition finance guides.
Plain-English guides to how leveraged buyouts and business acquisitions are financed, written from the lender side by Matt Lenzie (Bank of Scotland and Lloyds Banking Group alumnus, 25-year career banker (bank of scotland, lloyds banking group). £400m+ raised for clients.). What a credit committee actually wants from a leveraged deal, and why.
Guide · 9 min read
What is a leveraged buyout? The LBO explained
The definition, the parties, the debt and the reason the target ends up paying for its own acquisition, in plain English.
Published 3 September 2026 · Read →
Guide · 11 min read
How does a leveraged buyout work? The mechanics from offer to exit
The LBO in the order it actually happens, with the funding decision that sits behind each stage.
Published 3 September 2026 · Read →
Guide · 11 min read
Leveraged buyout structure: the debt stack and the capital structure
Every layer of an LBO capital structure, what it costs, where it ranks and who provides it in the UK.
Published 3 September 2026 · Read →
Guide · 10 min read
Leverage ratios explained: debt to EBITDA, interest cover and DSCR
How to calculate the ratios a credit committee tests, and what 3x, 4x and 5x actually mean for a deal.
Published 3 September 2026 · Read →
Guide · 10 min read
How to finance a business acquisition: every route compared
The six funding routes for buying a company, what each costs and how a typical deal blends them.
Published 3 September 2026 · Read →
Guide · 9 min read
How to get a loan to buy a business in the UK
The lender's checklist for an acquisition loan, and how to arrive with a case that gets approved.
Published 3 September 2026 · Read →
Guide · 10 min read
Leveraged buyout examples: UK deals and what they teach
Landmark UK LBOs and illustrative smaller deals, with the sources and uses and the lesson each one carries.
Published 3 September 2026 · Read →
Guide · 8 min read
LBO vs MBO: leveraged buyout and management buyout compared
Who drives the deal and how far the debt goes. The real differences, and the large overlap.
Published 3 September 2026 · Read →
Guide · 9 min read
Leveraged buyout advantages and disadvantages
Why leverage multiplies returns and why it multiplies failure. Both sides, with UK evidence.
Published 3 September 2026 · Read →
Guide · 8 min read
What is EBITDA? Meaning, calculation and why lenders live by it
Earnings before interest, tax, depreciation and amortisation: the number every deal is priced and leveraged on.
Published 3 September 2026 · Read →
More guides coming
We publish new guides regularly across the debt stack, leverage ratios, unitranche and mezzanine terms, acquisition loans, private equity and refinancing. Every guide is written by Matt Lenzie from the desk, not generic explainer content.
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