Calculate the debt/EBITDA multiple required to make the sale of Wonderland a viable LBO.

Entry EBITDA	11,540
EV EBITDA multiple, entry and exit	13 x
Investment time horizon, years	5.0
Exit EBITDA	13,500
Debt at exit	100,000
Required IRR	20.0%

2.6x

10.4x

119,678.2

6.5x