Tamna Home Services: a platform for add-ons
- 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
- 2022: Daebak Equity III buys Tamna.
- 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.
- 2027: planned sale, with a target of 2.5x the fund's equity.