Filing Flows › Everforth (EFOR) › Takeover & LBO
Is Everforth (EFOR) a takeover target?
A leveraged buyout at today's price plus 30% ($49.63 a share) would return about 4% a year to a private-equity buyer over 5 years; the most a buyer could pay for a 20% return is $27.62 a share (−28% against today's $38.18). Historically 4.2% of companies with its figures were bought within a year (0.83× the average).
The buyout, step by step
| Entry | Amount | How |
|---|---|---|
| Offer price a share | $49.63 | today's $38.18 plus 30% |
| × shares | 41.1 million | |
| = Equity value | $2.0B | |
| + Debt refinanced | $1.4B | |
| − Cash | $148M | |
| = Enterprise value | $3.3B | 11.0× EBITDA of $300M |
| Fees | $65.7M | 2% of the price |
| New debt | $1.6B | 5.5× EBITDA at 7.65% a year; the limit that binds: 5.5× EBITDA |
| Buyer's own money | $1.7B | 51% of the cost |
5 years under the buyer
| Year | Revenue | EBITDA | Interest | Free cash flow | Debt left |
|---|---|---|---|---|---|
| Year 1 | $4.0B | $300M | $126M | $121M | $1.5B |
| Year 2 | $4.0B | $302M | $117M | $126M | $1.4B |
| Year 3 | $4.1B | $307M | $107M | $133M | $1.3B |
| Year 4 | $4.2B | $314M | $97.0M | $142M | $1.1B |
| Year 5 | $4.3B | $323M | $86.2M | $152M | $974M |
The exit and the buyer's return
| Exit | Amount | |
|---|---|---|
| Exit multiple | 9.4× EBITDA | today's trading multiple, before any premium |
| Enterprise value at exit | $3.0B | |
| − Debt left | $974M | |
| = Buyer's equity | $2.1B | |
| Money multiple | 1.21× | on $1.7B put in |
| Buyer's yearly return (IRR) | 3.9% |
Price against return
What the buyer makes at other premiums over today's $38.18; the IRR reaches 20% at $27.62 a share.
| Premium | Price a share | Buyer's IRR |
|---|---|---|
| 10% | $42.00 | 8.3% |
| 20% | $45.82 | 5.9% |
| 30% | $49.63 | 3.9% |
| 40% | $53.45 | 2.0% |
| 50% | $57.27 | 0.4% |
The figures used
| Figure | Amount | |
|---|---|---|
| Revenue, last 12 months | $4.0B | |
| EBITDA, last 12 months | $300M | 7.5% of revenue |
| Depreciation and amortization | $118M | |
| Capital spending | $36.1M | |
| Debt | $1.4B | |
| Cash | $148M | |
| Share price | $38.18 | on Oct 30, 2026 |
Fixed rules, the same as the interactive view's starting point: the shares are bought at today's price plus 30%, the company's debt is refinanced and fees take 2%. New debt is the least of 5.5× EBITDA, 65% of the price and the amount whose interest EBITDA covers 2 times, at 7.65% a year (SOFR 3.89% plus the high-yield B spread 3.26% plus 0.5%, rates of Oct 15, 2026). Revenue grows 0.0% in the first year — the company's own rate, held between −3% and +8% — fading to 3% by year 5; the EBITDA margin, depreciation and capital spending stay at today's share of revenue; working capital takes 10% of each year's added revenue; tax is 30% of profit after interest. Every dollar of free cash flow repays debt. After 5 years the buyer sells at today's multiple of EBITDA.
What a takeover could cost
Takeovers in its sector paid a median premium of 40% over the share price before the deal (the middle half 14.7% to 60.2%), according to the 20 merger proxies and tender-offer responses on EDGAR that state a premium. At the median, Everforth would cost about $53.45 a share, $2.2B for all its shares.
| Premium | % | Price a share | All shares |
|---|---|---|---|
| Low end (a quarter of deals paid less) | 14.7% | $43.79 | $1.8B |
| Median | 40% | $53.45 | $2.2B |
| High end (a quarter paid more) | 60.2% | $61.16 | $2.5B |
The odds, from history
Historically 4.2% of companies with its figures were bought within a year (0.83× the average). Its figures put it in decile 4 of 10 (10 = the most likely to be bought). The odds come from a model of every merger proxy, tender-offer response and going-private statement filed on EDGAR since 2011, set against each company's size, margins, debt, cash flow and growth the year before.
Everforth's latest quarter
Everforth, Q3 2026: revenue $1.0B (+2% year over year), operating margin 5.5%, net earnings $23.1M, operating cash flow $58.7M. The chart follows the revenue to costs, profit and cash.
Questions
Is Everforth being acquired?
No headline, 8-K or 13D about a sale is on file in the last year.
Could private equity buy Everforth?
A leveraged buyout at today's price plus 30% ($49.63 a share) would return about 4% a year to a private-equity buyer over 5 years; the most a buyer could pay for a 20% return is $27.62 a share (−28% against today's $38.18).
What would a takeover of Everforth cost?
Takeovers in its sector paid a median premium of 40% over the share price before the deal (the middle half 14.7% to 60.2%), according to the 20 merger proxies and tender-offer responses on EDGAR that state a premium. At the median, Everforth would cost about $53.45 a share, $2.2B for all its shares.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.