Enzo Tortelli

I am a finance student and investment professional passionate about private equity, deal analysis, and understanding what really drives businesses. Through this website, I share LBOs, valuation work, and investment research that I produce in my free time to keep learning, stay curious, and make my thinking visible. Outside of work, I enjoy endurance sports, travelling, and building projects that bring people together.
Enzo Tortelli

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Marshalls Investment Memo – A Case Study

December 18, 2025

A PE-style investment case on Marshalls, the UK leader in hard landscaping, focused on a trough-entry opportunity in 2009 and a value creation plan driven by operational recovery, margin expansion, and disciplined deleveraging. The case targets 2.7x MOIC / 21% IRR, backed by resilient public-sector exposure and strong cash generation.

ConstructionPresentation
xlsx

Marshalls – Leveraged Buyout

December 18, 2025

LBO model supporting the Marshalls deal, focused on entry leverage, cash-driven deleveraging, and targeted equity returns.

ConstructionExcel