SailPoint Technologies

active

Software — Thoma Bravo

Deal Terms

Entry Year2022

Entry EV$6.9B

Entry Multiple12x

Leverage5.5x

Debt Amount$3.8B

Risk Metrics

LTV (est.)55%

Debt / EV0.55x

Notes

Thoma Bravo $6.9B take-private (2022). Identity governance SaaS. $3.8B debt. Aggressive cost-cutting. Re-IPO'd 2024 at reduced valuation. Identity security is critical infrastructure but PE ownership prioritizes margin extraction over R&D investment.

Sponsor

Thoma Bravo$166B AUM