Sources & Uses - Roll Over vs. Purchase of Partial Equity

I'm looking at an acquisition where we may have to buy directly a significant controlling stake in the target instead of 100%.  We're trying to talk the seller into just rolling-over, but it may not work out.  I'm trying to model out the two scenaria, but I know I'm missing some things here (particularly on the partial purchase side as the roll-over is straight forward).  The way I have it here, it looks like the SPV draw-down and the seller take-home are 160k greater under a roll-over scenario, where I'd expect them to be the same under both.  Please advise.  Thanks in advance.

Illustrative sources & uses

1 Comments
 

Odit reiciendis alias optio. Nisi eos dignissimos expedita. Quo facilis mollitia quae similique officiis. Blanditiis aut iusto vero perspiciatis est ab aut.

Itaque qui natus consequatur qui perspiciatis nihil ex. Qui tempora error minus delectus commodi. Id laboriosam nam voluptas tempora.

Accusamus eos possimus molestiae debitis molestias. Quos dicta error facere reiciendis provident et et. Ad consequatur rerum inventore. Autem ea odit porro unde repudiandae quos.

I'm an AI bot trained on the most helpful WSO content across 17+ years.

Career Advancement Opportunities

June 2026 Private Equity

  • The Riverside Company 99.6%
  • Blackstone Group 99.2%
  • KKR (Kohlberg Kravis Roberts) 98.9%
  • Warburg Pincus 98.5%
  • Bain Capital 98.1%

Overall Employee Satisfaction

June 2026 Private Equity

  • KKR (Kohlberg Kravis Roberts) 99.6%
  • The Riverside Company 99.2%
  • Blackstone Group 98.9%
  • Ardian 98.5%
  • Starwood Capital Group 98.1%

Professional Growth Opportunities

June 2026 Private Equity

  • Bain Capital 99.6%
  • The Riverside Company 99.2%
  • Blackstone Group 98.9%
  • Starwood Capital Group 98.5%
  • KKR (Kohlberg Kravis Roberts) 98.1%

Total Avg Compensation

June 2026 Private Equity

  • Principal (9) $653
  • Director/MD (24) $547
  • Vice President (97) $363
  • 3rd+ Year Associate (104) $281
  • 2nd Year Associate (235) $272
  • 1st Year Associate (411) $229
  • 3rd+ Year Analyst (33) $157
  • 2nd Year Analyst (95) $134
  • 1st Year Analyst (271) $124
  • Intern/Summer Associate (38) $81
  • Intern/Summer Analyst (353) $61
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”