Home Our People Stefan T. Zimmerman
stephan zimmerman
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
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.