BMC Software

active

Software — KKR (current) / Bain Capital / Golden Gate (former)

Deal Terms

Entry Year2018

Entry EV$8.5B

Entry Multiple10x

Leverage7.5x

Debt Amount$6.4B

Risk Metrics

LTV (est.)75%

Debt / EV0.75x

Notes

Serial PE flip: Bain/Golden Gate bought for $6.9B (2013), flipped to KKR for $8.5B (2018). Leverage pushed to 7.5x — drew Fed warning. Enterprise IT management. KKR's third bite at BMC. Cost-cutting + price hikes + layoffs. Still private, IPO timeline unclear.

Sponsor

KKR & Co.$638B AUM