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Tamna Home Services: a platform for add-ons

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Sector
Consumer and services
Fund
Daebak Equity III, deal two
Bought
2022
Price
US$100m plus US$5m of deal fees
Funding
US$45m of equity and US$60m of debt
Debt before the sale
None
EBITDA at purchase
US$10m
Add-ons
Planned: repair shops
Status
Current; exit planned 2027

Tamna's founder sold the whole company, which had no debt, for US$100m. Daebak Equity III paid US$45m of equity, and lenders lent US$60m to Tamna HoldCo.

The plan grows EBITDA from US$10m to US$17m by 2027, partly by buying smaller businesses. Managers hold units that pay them a share of the gain above a hurdle.

Timeline

  1. 2022: Daebak Equity III buys Tamna.
  2. Plan, deal year 4 (2026): add repair shops with EBITDA of about US$1.5m for about US$6.75m, funded from Tamna's own cash and a small facility.
  3. 2027: planned sale, with a target of 2.5x the fund's equity.