Growth Equity Modeling from CIM for Case Study

Hi all, quick question for everyone. Have upcoming interviews at some growth equity firms, all non MF shops. Everyone at the firm said that the case study is you receive a data pack and a CIM, and then are asked to discuss what you would pay for the business. 

Curious if anyone has ever done something like this before. All of my practice growth models are building a bottoms up revenue model, and then maybe a bottoms up S&M section, but not answering exactly "what would you pay for the business?". 

Also, all my LBO model building have been from prompts, and less so building from CIMs. 

Curious if anyone has any feedback or tips on how to build / answer these questions. 

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