Filing Flows › EquipmentShare.com (EQPT) › Takeover & LBO
Is EquipmentShare.com (EQPT) a takeover target?
A leveraged buyout at today's price plus 30% ($18.97 a share) would return about 9% a year to a private-equity buyer over 5 years; the most a buyer could pay for a 20% return is $12.02 a share (−18% against today's $14.59). Historically 5.5% of companies with its figures were bought within a year (1.1× the average).
The buyout, step by step
| Entry | Amount | How |
|---|---|---|
| Offer price a share | $18.97 | today's $14.59 plus 30% |
| × shares | 226.0 million | |
| = Equity value | $4.3B | |
| + Debt refinanced | $3.3B | |
| − Cash | $306M | |
| + Other claims | $430M | preferred stock, minority interests |
| = Enterprise value | $7.7B | 11.6× EBITDA of $662M |
| Fees | $154M | 2% of the price |
| New debt | $3.6B | 5.5× EBITDA at 7.65% a year; the limit that binds: 5.5× EBITDA |
| Buyer's own money | $4.2B | 54% of the cost |
5 years under the buyer
| Year | Revenue | EBITDA | Interest | Free cash flow | Debt left |
|---|---|---|---|---|---|
| Year 1 | $4.5B | $682M | $279M | $383M | $3.3B |
| Year 2 | $4.6B | $702M | $249M | $422M | $2.8B |
| Year 3 | $4.8B | $723M | $217M | $465M | $2.4B |
| Year 4 | $4.9B | $745M | $181M | $510M | $1.9B |
| Year 5 | $5.1B | $767M | $142M | $558M | $1.3B |
The exit and the buyer's return
| Exit | Amount | |
|---|---|---|
| Exit multiple | 10.1× EBITDA | today's trading multiple, before any premium |
| Enterprise value at exit | $7.8B | |
| − Debt left | $1.3B | |
| = Buyer's equity | $6.5B | |
| Money multiple | 1.54× | on $4.2B put in |
| Buyer's yearly return (IRR) | 9.0% |
Price against return
What the buyer makes at other premiums over today's $14.59; the IRR reaches 20% at $12.02 a share.
| Premium | Price a share | Buyer's IRR |
|---|---|---|
| 10% | $16.05 | 12.9% |
| 20% | $17.51 | 10.8% |
| 30% | $18.97 | 9.0% |
| 40% | $20.43 | 7.3% |
| 50% | $21.88 | 5.8% |
The figures used
| Figure | Amount | |
|---|---|---|
| Revenue, last 12 months | $4.4B | |
| EBITDA, last 12 months | $662M | 15.1% of revenue |
| Depreciation and amortization | $365M | |
| Debt | $3.3B | |
| Cash | $306M | |
| Share price | $14.59 | on Nov 6, 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 3.0% 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 26% 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, EquipmentShare.com would cost about $20.43 a share, $4.6B for all its shares.
| Premium | % | Price a share | All shares |
|---|---|---|---|
| Low end (a quarter of deals paid less) | 14.7% | $16.73 | $3.8B |
| Median | 40% | $20.43 | $4.6B |
| High end (a quarter paid more) | 60.2% | $23.37 | $5.3B |
The odds, from history
Historically 5.5% of companies with its figures were bought within a year (1.1× the average). Its figures put it in decile 7 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.
EquipmentShare.com's latest quarter
EquipmentShare.com, Q2 2026: revenue $1.4B (+26% year over year), operating margin 6.4%, net earnings $19.0M, operating cash flow $58.0M. The chart follows the revenue to costs, profit and cash.
Questions
Is EquipmentShare.com being acquired?
No headline, 8-K or 13D about a sale is on file in the last year.
Could private equity buy EquipmentShare.com?
A leveraged buyout at today's price plus 30% ($18.97 a share) would return about 9% a year to a private-equity buyer over 5 years; the most a buyer could pay for a 20% return is $12.02 a share (−18% against today's $14.59).
What would a takeover of EquipmentShare.com 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, EquipmentShare.com would cost about $20.43 a share, $4.6B for all its shares.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.