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Investment Banking Institute Houston

PLEASE SCROLL THROUGH TO THE MIDDLE OF THE PAGE FOR COMPLETE SCHEDULE
Please note: Each class is comprised of multiple sessions and is limited to 20 students

Investment Banking Course Houston

CLASS ATTENDANCE POLICY (MAKE-UP SESSIONS AND RE-TAKES): In keeping with our primary goal of delivering the most effective financial modeling training to our students, our attendance policy is flexible to accommodate your already demanding schedule and any unexpected occurrences. Missed classes can be made up at your earliest convenience at no extra charge. If expected absences are known in advance, make-up classes can even be attended ahead of time.
Similarly, if it becomes necessary for you to re-take any sessions, you can do so as your schedule permits. We offer multiple classes simultaneously; there are always numerous options available and we will be happy to include your name on the roster for desired makeup (and/or re-take) sessions. Additional seats are always set aside in reserve for this purpose.

Investment Banking Training with IBI Houston Banker Jeff Noland

HOUSTON SCHEDULE


Saturdays & Sundays beginning January 24th (From 10:00am to 1:30pm)
(Eight 3.5-hour Sessions)

-(OPEN, 14 SPACES AVAILABLE)-

Session 1: Saturday, January 24th
Session 2: Sunday, January 25th
Session 3: Saturday, January 31st
Session 4: Sunday, February 1st
Session 5: Saturday, February 7th
Session 6: Sunday, February 8th
Session 7: Saturday, February 14th
Session 8: Sunday, February 15th

*Class enrollment is on a first-come, first-served basis.

IBI Texas Instructor Jeff Noland



IBI HOUSTON 713-344-0154

Financial Modeling Training classes are held in the training room of our North Houston office, located at the International Energy Center, 10 miles North of downtown Houston at the intersection of I-45, and the Sam Houston Tollway. The building features a beautiful indoor atrium, surface and covered parking, and a ground floor deli. The Energy Center hosts prominent Houston businesses and is a striking glass mirrored structure, easily accessible from Intercontinental Airport as well as Downtown.

Investment Banking Institute
International Energy Center
11811 North Freeway, Suite 500
Houston, TX 77060

IBI HOUSTON COURSE SYLLABUS

The IBI training program and course syllabus in Houston are modified to include a session focused on valuation with regard to the Oil and Gas industry in the area.
(Please see Session 7 below)


HOUSTON BASED 8 SESSION COURSE SYLLABUS


SESSION 1 - INTRODUCTION AND FINANCIAL STATEMENT ANALYSIS
    A. Introduction of Banker/Instructor
    B. Discussion of Financial Modeling Syllabus
    C. Introduction of Students and their Desired Goals
    D. Financial Markets Overview
    E. What are the Investment Banks & Private Equity Firms looking for in a potential candidate?
    F. SEC Filings, including Annual Reports (10-K) and Quarterly Reports (10-Q)
    G. Historical - Income Statement, Balance Sheet and Cash Flow
    H. Financial Statement Analysis (Ratio Analysis)
SESSION 2 - COMPREHENSIVE VALUATION ANALYSIS
    A. Why do we value companies?
    B. Difference between Book Value and Market Value
    C. Understanding Equity Value vs. Total Enterprise Value (TEV)
    D. The three (3) Generally Accepted Valuation Methodologies
      1. Discounted Cash Flow Analysis (DCF)
      2. Trading Multiples
      3. Precedent Transactions
    E. Spreading Comps
    F. Combining all three (3) Valuation Methodologies
SESSIONS 3 / 4 - INTEGRATED CASH FLOW MODELING
    A. Uses for a Financial Model on Sell-side and Buy-side
    B. Tips for Setting up a Financial Model
    C. Spreading Historic Financial Statements
    D. Deriving Historic Ratios, Trends and Variables
    E. Creating Five Year Projections for Income Statement, Balance Sheet, Cash Flows
    F. Debt and Interest Schedule
    G. Integration of Projected Income Statement, Balance Sheet and Cash Flow
    H. Revolver Modeling
    I. Sensitivities on Financial Model
SESSIONS 4 / 5 - COMPLETE LBO MODELING
    A. Uses for An LBO Model on Sell-side and Buy-side
    B. Review of LBO Model Structure
      1. Purchase Price Calculations and Considerations
      2. Capital Structure Options / Reviews
      3. Discussion of Typical Financing Sources for LBO
      4. Creation of a Sources and Uses Worksheet
      5. Proforma Income Statement, Balance Sheet, Cash Flow
      6. Goodwill Calculation
      7. Integration of Income Statement, Balance Sheet, Cash Flow
      8. Debt and Interest Schedule
      9. Revolver and mandatory / option debt prepayment and impact on returns
      10. Returns Analysis - IRR on debt, hybrid instruments and equity investments
    C. Sensitivities on LBO model and Return Analyses
SESSION 6 - MERGER (ACQUISITION) MODELING
    A. Uses for a Merger Model
    B. How to build a Merger Model
      1. Calculation of Equity Value and Purchase Price
      2. Explanation of Consideration used in Purchase (stock, cash, assumed debt)
      3. Discussion of Multiples Paid
      4. Post-Merger Control Issues
      5. Synergies and pre-tax Synergies required to Breakeven
      6. Revenue and EBITDA contribution
      7. Proforma Income Statement
      8. EPS Dilution for Acquirer
      9. Discussion of Goodwill and other accounting treatment issues
      10. Sensitivities
SESSION 7 - OIL & GAS VALUATION / CASE STUDY
    A. Industry Overview
    B. Key Industry Terminology and Meanings
    C. Analyzing O&G Company Financial Statements (I/S, B/S, CF)
    D. Typical Valuation Methodologies - An Overview
      a. Net Asset Value (NAV) Valuation
      b. Sum of the Parts Valuation (for integrated companies)
      c. Comps, Precedent Transactions, DCF (and some limitations/differences relative to industrial companies)
      d. M&A (and occasionally, LBO) Valuation
    E. Case Study - Oil & Gas Valuation and M&A Model
      a. Review of Key Model Inputs
      b. Production and Operating Models
      c. NAV Model
      d. DCF Model
      e. Public Comparables Model
      f. Precedent Transactions Model
      g. Sensitivities
    F. Other Relevant Topics
      a. Price Hedging
      b. Oil & Gas Synergies
SESSION 8 - INVESTMENT BANKING PROCESS AND BEST PRACTICES,
INTERVIEW SKILLS AND RESUME REVISION

I. Conclusion of Financial Modeling
II. Investment Banking Process
    A. M&A and Private Placement
      1. Investment Bank
      2. Industry Overview
      3. Market Overview
      4. Client
      5. Valuation
      6. Process
      7. Buyer/Investor Descriptions
    B. Financing
      1. Investment Bank
      2. Industry Overview
      3. Market Overview
      4. Client - Positioning
      5. IPO Valuation
      6. Marketing
      7. Pitch Process
    C. Sell-side Process
      1. M&A Process
      2. Private Placement
III. Career Resources
    A. Guidelines for resume writing, structured for Investment Banking & Private Equity positions
    B. Skills acquired through IBI incorporated on student's resume
    C. Top 140 interview questions and questions to ask interviewer
    D. Investment Banking & Private Equity specific insight
    E. What we looked for when hiring analysts and associates
    F. Examples of rewritten resumes, including proper format and style

Leveraged Buyout Modeling with IBI Houston Banker Jeff Noland

IBI HOUSTON BANKER-INSTRUCTOR PROFILE

JEFFREY NOLAND is a senior finance executive and former investment banker living in Texas, who brings over 18 years experience involving M&A, complex valuations of both private and public companies, and structuring real estate private equity transactions to IBI Houston.

Jeff currently serves as the Chief Financial Officer and Executive Vice President overseeing business development for Briar Capital, a specialty finance company with operations in Dallas and Houston. In this role, Jeff oversees all financial aspects of the company (including bank and Board reporting), and works to finance companies operating in diverse industries.

Prior to his current role, Jeff served as Vice President of Newport Coast Capital Management, LLC, a real estate development and investment management firm in Southern California backed by ING Realty Partners, where he was responsible for structuring, negotiating, and financing complex real estate transactions involving the purchase and/or development of major Southern California resort properties, office buildings, raw land, and high-end residential communities.

Prior to his role at NCCM, Jeff was a Senior Associate and project manager for Charles River Associates, where he was charged with the coordination and management of damages analyses and expert witness testimony for large corporate litigation matters.

In addition, Jeff has extensive experience as an investment banker with Fleet M&A Advisors (formerly Howard, Lawson & Co.) in their M&A and securities valuation practices. He was involved in dozens of valuations of public and private companies for M&A advisory, pre-IPO valuations, stock option/warrant valuations, hostile takeover defense, and tax purposes.

Jeff also worked as Senior Manager of Business Development with Siebel Systems, where he structured, negotiated, and closed over 100 complex licensing deals involving intellectual property from Silicon Valley's leading companies.

He has also qualified and testified as a damages expert in United States Federal Court based on his expertise in finance and business valuation.

Jeff holds an MBA from The Wharton School of Business at the University of Pennsylvania.

Selected Transaction Experience:
  • $1.2 billion damages award ($200 million actual damages and $1.0 billion of punitive damages) against a major U.S. financial institution
  • $600 million in damages to client for patent infringement by Dell, Gateway, Hewlett-Packard, and others
  • $235 million in damages against an air cargo services company
  • Pre-IPO rights valuation for $178.8 million IPO of Internet incubator company
  • $125 million purchase and conversion of a 560-room luxury hotel to condominium hotel
  • Pre-IPO rights valuation for $56.4 million IPO of Internet company
  • $55 million purchase and conversion of a 475-room hotel to full-service independent- and assisted-living facility
  • $27 million purchase and planned $40 million renovation of a 193-room full-service hotel for resale as a luxury condominium hotel
  • $25.9 million raw land acquisition and $60 million development of 5,400 acres in Cabo San Lucas, Mexico
  • Sell-side advisory for $20 million sale of insurance (property/casualty) company
  • Sell-side advisory for $15 million sale of regional formalwear company
  • Successful Defense from hostile takeover attempt of publicly traded microwave electronics company

Oil and Gas Modeling with IBI Houston Banker Jeff Noland

(SEE DALLAS SCHEDULE FOR ADDITIONAL TEXAS CLASSES)


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