Stefan T. Zimmerman
Senior Consultant
Education & Qualifications
BS in Accountancy, Arizona State University, W.P. Carey School of Business
Stefan T. Zimmerman
Senior Consultant
Stefan has diverse experience encompassing private equity, real estate, data analysis, financial modeling, and financial reporting. At Harney, he supports a broad range of client engagements in which he performs detailed financial and accounting analyses, financial modeling, forecasting, as well as other value-creating initiatives.
Previously, he worked in the consulting practice of PwC and supported multinational companies with financial transactions, restructuring, value chain transformation, valuation, and transfer pricing. He has worked with a broad range of clients including publicly-traded, privately-held, not-for-profit, and PE-backed across a multitude of industries.
Representative Engagements
Financial Advisor - Machinery Manufacturer and Sawmill
- Managed lender relationships, liquidity, and cash flow forecasting for an $8m machinery manufacturer.
- Negotiated forbearance terms and additional cash infusions.
- Led efforts with Principals, Finance, Operations, and Sales leadership to improve forecasting for sales, inventory requirements, and vendor relationships.
Financial Advisor - Content Studio and Marketing Intelligence Agency
- Built 13- and 26-Week Cash Flow forecasts for a $30m content studio to evaluate additional lending requirements and restructuring plan feasibility.
- Collaborated with attorneys to place the studio in Chapter 11 bankruptcy.
- Worked with Principals, FP&A, Accounting, and Sales leadership to enhance forecasting of sales and relationships with freelancers and clients.
Financial Advisor - National Restaurant Chain
- Collaborated with attorneys to manage Chapter 11 (Sub-Chapter V) bankruptcy for a multi-state fast-casual restaurant chain.
- Led efforts on 502(b)(6) lease liabilities, creditor matrix management, and monthly operating reports.
- Identified potential buyers for 363 sale through personal network.
Global Structuring Valuation
- Debt Capacity and Interest Rate Analysis
- Evaluated the quantum and pricing of a proposed intercompany loan by performing a debt capacity analysis of the borrower’s structure to estimate the amount of capital that could be supported in the form of debt.
- Tested debt capacity by performing a serviceability analysis that evaluated forecasts provided by the client of the expected free cash flow (“FCF”) of the borrower on a five-year horizon.
- Assessed reasonableness of the quantum of debt by conducting an analysis of key leverage ratios of the borrower compared to recent comparable third-party issuers of debt using CapitalIQ.
- IP Valuation Analysis / Acquisition Price Method (“APM”)
- Identified the IP value of an acquired company using the APM, and price paid for acquiring the IP.
- Performed carve-outs for control premiums and assembled workforce premiums by identifying market capitalization and synergies and removing assets and liabilities that would not benefit the buyer.
- Debt Capacity Analysis
- Analyzed the client’s future IPO proceeds of $986m that were going to be used to pay down existing debt totaling $1.2b.
- Performed interest deductibility analysis, market transactions analysis, and peer analysis both pre- and post-IPO to calculate accumulated future FCF and debt balance.
- Constructed a DCF model to break down each loan and its repayment schedule post-IPO.