Middle Market Definition: A Comprehensive Guide for Finance Practitioners

While there’s there’s no single definition for middle-market companies that everyone agrees on, we’re generally talking about privately held U.S. operating businesses pulling in ~$10M–$1B in revenue per PitchBook. In dealmaking terms, most private-equity transactions in this segment fall around ~$25M–$1B in enterprise value (EV). Note ranges can vary by industry and region; use revenue for operational … Read more

How to Build an LBO Model: The 2026 Practitioner’s Guide

📥 Don’t Start From Scratch Download the Middle-Market LBO Model (Excel). Includes dynamic debt schedules, sensitivity tables, and ‘blue/black’ formatting. Download Template (.xlsx) ↓ Direct download. No email required. Let’s be real: learning how to build an LBO model isn’t just “nice to have” if you’re working in private equity, investment banking, or corporate finance— … Read more

Beyond the Numbers: 5 Common LBO Modeling Traps (and How to Avoid Them)

Minimalist spreadsheet graphic titled “5 LBO Modeling Traps,” showing warning arrows pointing to five red X-icons, in UpLevered brand colors.

Anyone can learn to link cells in Excel. That’s the price of admission. The real differentiator, or what separates a top-tier private equity candidate from the pack (besides following our private equity recruiting guide), is commercial judgment. It’s the ability to spot the subtle, return-killing traps that hide in plain sight within a model… just … Read more

The Three Pillars of the Private Equity Interview (And the #1 Mistake in Each) – 2025 PE Interview Guide

Infographic for the UpLevered Private Equity Interview Playbook showing the three pillars of a PE interview: Alpha Narrative (person icon), Technical Fortress (tower icon), and Investor's Mind (head with gears icon).

Landing a coveted private equity role isn’t just about polishing your resume – it’s about excelling in the private equity interview gauntlet. As someone who broke into this industry from a non-traditional background and now sits on the other side of the table, I can tell you PE interviews are a different beast. You need … Read more