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Mark McLean

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2023-04-13

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2023-04-13

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1. “They are the biggest security dummy in the world. We'll have to go figure that out. But yeah, I think that was a lot of the opportunity. And again, yeah, it has been a blessing and a pleasure to kind of be here for this whole crazy journey. Again, I said at the outset, if you'd asked me at the beginning, if I'd be here 17 years later, I would have looked at you like you had a third head. But I think it's just partly been so fun. Seth, you said it. It's like every face is in some ways felt like a different company, right? There's just a whole different set of challenges, you know, zero to 50 million, say, or 50 to 250. And we kind of navigated the two-ish to five-ish in our public segment. And with friends at Tomabravo, I think we're hoping that gets into some kind of multi-billion dollar number if we do our job right. And that is an exciting new phase of the journey that I've certainly never anticipated being on. But I have one secret to leadership success, and that is bring in smarter people than you that know what they're doing at all stages. And when you do that, it seems to work out pretty well.”

   2023-04-13 · Capital Allocators · Thoma Bravo's Behind the Deal Podcast (Capital Allocators, EP.308) · IDENTIFIED FROM THE TRANSCRIPT · source

2. “Yeah, very much. I think we saw the opportunity for growth that was things we could do organically, right? Kind of with our balance sheet and things that we might want to have a financial partner. And I think knowing what Toma Bravo had done by then with so many other companies on cloud transformation and just an even broader footprint across the security landscape. I think Seth, you probably know this stat, but I think if you were an independent security company with all your holdings, you'd be like the third or fourth or second or very near the top.”

   2023-04-13 · Capital Allocators · Thoma Bravo's Behind the Deal Podcast (Capital Allocators, EP.308) · IDENTIFIED FROM THE TRANSCRIPT · source

3. “Cloud hybrid business with incredible recurring revenue, great products, great cash flow. And that very well could be a public company again, which I think everyone has ambitions around if their performance is there. So it's a really neat story. And it goes to show you how companies like SalePoint can definitely have many lives. And in the middle of some of these steps, we think we can be a great partner to kind of help the company get to its next phase. And this for us feels like timeframe. So, you know, that's where we sort of re-entered the scene and became really excited about this next opportunity.”

   2023-04-13 · Capital Allocators · Thoma Bravo's Behind the Deal Podcast (Capital Allocators, EP.308) · IDENTIFIED FROM THE TRANSCRIPT · source

4. “Is this innovation that's continued in the business has obviously pushed the company into a transition to cloud, which is something that we have a ton of experience with now. It's happening all over software for companies that have been around for more than 10 years. And we got really excited about what we saw with the new product, where we saw the market going. the markets becoming increasingly interesting. It's an area of increasing investment. And sale points position innovation in the market in many ways looks like it did when we first made our initial investment, but now it's a cloud first company. And, you know, that transition isn't easy. So, you know, taking a step back from the public markets at the time that the company did, we think is a great decision to accelerate this move to cloud and come out the other side, both a”

   2023-04-13 · Capital Allocators · Thoma Bravo's Behind the Deal Podcast (Capital Allocators, EP.308) · IDENTIFIED FROM THE TRANSCRIPT · source

5. “And continue to innovate too, which is not easy to do. So one of the big impetus for the round two of our investment, and I hope you feel the same way about us at the end of this one as you did after the first one. I don't know if they'll be around three. We're planning.”

   2023-04-13 · Capital Allocators · Thoma Bravo's Behind the Deal Podcast (Capital Allocators, EP.308) · IDENTIFIED FROM THE TRANSCRIPT · source

6. “You obviously founded the company. I mean, just an unbelievable story. It's also amazing that your team, a lot of your team has been there with you throughout the whole journey as well. So you've been an amazing leader and you've been able to transition from founder, you know, running this 10-person company to how many people do we have today? I mean, it's unbelievable.”

   2023-04-13 · Capital Allocators · Thoma Bravo's Behind the Deal Podcast (Capital Allocators, EP.308) · IDENTIFIED FROM THE TRANSCRIPT · source

7. “We followed the company incredibly closely and the business obviously performed really well. And I mean, Mark, you are in a unique situation where you've taken a business to, our value was $7 billion. I think our initial, right, when we bought the business.”

   2023-04-13 · Capital Allocators · Thoma Bravo's Behind the Deal Podcast (Capital Allocators, EP.308) · IDENTIFIED FROM THE TRANSCRIPT · source

8. “About some of what we're seeing in the market because we almost view you guys like consultants. You're smart, you understand the industry. What do you see happening? And sort of just thought, hey, let's pick your brain and see what happens. And then I guess what happened next was sort of like, hey, what if we Perhaps did something together again, which was not really what we expected to come out of that conversation”

   2023-04-13 · Capital Allocators · Thoma Bravo's Behind the Deal Podcast (Capital Allocators, EP.308) · IDENTIFIED FROM THE TRANSCRIPT · source

9. “So I think within a year we had about a year, you were out. Yeah, and I think we had all thought it might take a two to three year window. We knew there'd be a process of gradually capitalizing on the opportunity to capture the investment. But I don't think any of us saw that when we went public in late 17, that by basically the end of 18, really early 19, our friends at Toma Bravo no longer owned any of the company. So that happened quite rapidly. So there was a lot of adjustment quickly. Frankly, that was a little sad. I wasn't in a rush for the Bravo team to disappear. That wasn't kind of a sad thing, honestly. But it happened. So off we went, you know, ran off to be a good public company. And I always felt like our friends at Toma Bravo were cheering us a bit from the sidelines. Hey, you guys keep going. Good job. And then what Seth, I guess late 21, a number of years after you guys were fully out, a good three and a half, almost four years, I think we'd obviously seen each other at events and conferences, such things, and stayed in touch. And we reached out to have a quick conversation.”

   2023-04-13 · Capital Allocators · Thoma Bravo's Behind the Deal Podcast (Capital Allocators, EP.308) · IDENTIFIED FROM THE TRANSCRIPT · source

10. “Something like that, I'm It took about a year, which is not, you never, we certainly, because we owned a Overwhelming majority of the business. It was not something that we expected, but the stock did so well and it There was sort of constant opportunity actually to provide liquidity to our investors, which we did. So I think within a year, about a year, you were.”

    2023-04-13 · Capital Allocators · Thoma Bravo's Behind the Deal Podcast (Capital Allocators, EP.308) · IDENTIFIED FROM THE TRANSCRIPT · source

11. “Zero, right? I think way back in the predecessor Toma Cresse firm, there'd been one or something like that. But at that point, I think we weren't even sure, maybe you guys already knew, but we didn't, like how this is going to play out now that we're public and what happened was a pretty rapid decline of investment interest by Toma Bravo, frankly, for a good reason, because the stock was performing really well and they were able to take some real good returns off the table. But it did escalate, I think, faster than both of us thought how quickly Toma Bravo was no longer a part of our team. It took about a year.”

    2023-04-13 · Capital Allocators · Thoma Bravo's Behind the Deal Podcast (Capital Allocators, EP.308) · IDENTIFIED FROM THE TRANSCRIPT · source

12. “Yeah, I think, you know, look, we did see the growth opportunity, whatever it was, Seth, I guess, 2016, the bank's friends started talking to you all and us, sometimes jointly, sometimes independently about whether this might be an IPO candidate. And we all came to the conclusion it was worth looking at and we were willing to do it. It hadn't been a goal, frankly, but we thought, well, it looks like it could be a great outcome. And we ran down that path and got the company out publicly in 2017, late 17. And then I guess Toma Bravo hadn't done a lot of IPOs. At that point in...”

    2023-04-13 · Capital Allocators · Thoma Bravo's Behind the Deal Podcast (Capital Allocators, EP.308) · IDENTIFIED FROM THE TRANSCRIPT · source

13. “We also have seen so many, you know, a lot of our business over time, and especially at that point was companies like SalePoint that had amazing product, grew like crazy, but didn't put the right other functions in place so that they got to a point of missing numbers, not being predictable, not scaling, not taking care of their customers the right way. So we also, I think, had some foresight and working with the team, which was always excellent. I mean, the talent in the company was always incredible. But working with the team to kind of get some of that process in place so that when the company was going after these huge growth targets, it was able to do so in a way that didn't break the business.”

    2023-04-13 · Capital Allocators · Thoma Bravo's Behind the Deal Podcast (Capital Allocators, EP.308) · IDENTIFIED FROM THE TRANSCRIPT · source

14. “Oh, yeah. No, I think at the time of the deal, none of us really saw an IPO as a looming, likely outcome. Not that any of us were dead set against it at all. Just like, that's probably not the path. We're going to grow. And I think we always had a pretty strong conviction around growth. But I think, yeah, you're right, Seth, we had talked about, look, kind of the old rule of math, right? If the growth doesn't stay as hot, then we'll need the profitability to come up, right? And the growth stayed hot. So we didn't focus on profit. Now, what was great was over time, profit joined, and it became a very good overall picture for the market. Yeah. And it just had an unexpectedly but very positive outcome. And I think there were some things about scaling that you guys understood that we didn't. I think we knew an awful lot about our space and the technology and the market. And there were some things about efficiency and scaling that you guys understood that were super important at various critical junctures, kind of just reinforced the power of the partnership.”

    2023-04-13 · Capital Allocators · Thoma Bravo's Behind the Deal Podcast (Capital Allocators, EP.308) · IDENTIFIED FROM THE TRANSCRIPT · source

15. “From my perspective, those first couple years were just a really incredible partnership of both of our firms. And obviously you guys were doing all the work. But I feel like we were there sort of helping the company look forward a little bit in terms of what needed to get done to kind of go after this massive opportunity that presented itself in a way that I think, you know, we weren't ready for and was ahead of anything that I think even you thought at the time.”

    2023-04-13 · Capital Allocators · Thoma Bravo's Behind the Deal Podcast (Capital Allocators, EP.308) · IDENTIFIED FROM THE TRANSCRIPT · source

16. “Ended up being so much faster, I think, than anybody thought because all of a sudden you started riding this incredible curve of opportunity. And I think one of the great things about the early days in the partnership is I think we were really helpful in working, especially in the go-to-market area to make sure that that function scaled, was predictable, and was able to kind of go after that opportunity.”

    2023-04-13 · Capital Allocators · Thoma Bravo's Behind the Deal Podcast (Capital Allocators, EP.308) · IDENTIFIED FROM THE TRANSCRIPT · source

17. “Remember the other discussion we had, Mark, that was really important for us is we did decide or agree that if things really did slow down at some point, we would change our view on what we were trying to do together from a profitability perspective earlier. And not only did that not happen, but accelerated the other way. So the growth in the business.”

    2023-04-13 · Capital Allocators · Thoma Bravo's Behind the Deal Podcast (Capital Allocators, EP.308) · IDENTIFIED FROM THE TRANSCRIPT · source

18. “But we always described it as the hockey stick. Like in the last couple weeks of the process, TB came on incredibly strong. It was like all day, every day, talking to somebody from Tome Bravo. And all of a sudden, they were the lead runner, clearly. They expressed really strong conviction in the business. And again, we already liked the team and knew they got the business. So it was a very, I'd never been through that competitive bidding process before on this side. So it was a learning process for us too.”

    2023-04-13 · Capital Allocators · Thoma Bravo's Behind the Deal Podcast (Capital Allocators, EP.308) · IDENTIFIED FROM THE TRANSCRIPT · source

19. “Closer to the truth. I remember that was, again, we had so much going on all at once. And maybe it was after that meeting we had at the W. Maybe it was a couple weeks before, but we just got to the point where we Like, look, we just can't, we have to do this. Like, I don't care how busy we are. I don't care how big a leap this feels. We've got to own this company. And we have to partner with this team.”

    2023-04-13 · Capital Allocators · Thoma Bravo's Behind the Deal Podcast (Capital Allocators, EP.308) · IDENTIFIED FROM THE TRANSCRIPT · source

20. “It was a competitive bidding process. There were other firms in there. And what was interesting is it felt us that Toma Bravo was leaning back a little. They didn't seem as engaged as some of the others.”

    2023-04-13 · Capital Allocators · Thoma Bravo's Behind the Deal Podcast (Capital Allocators, EP.308) · IDENTIFIED FROM THE TRANSCRIPT · source

21. “Which, you know, which is always the case, which we did. But that for us, I remember sealed it as something that we weren't going to lose. That was an investment we absolutely wanted to make. And I just remember a lot of institutional inertia on our side after that meeting. So we were. We were really fired up to get it done”

    2023-04-13 · Capital Allocators · Thoma Bravo's Behind the Deal Podcast (Capital Allocators, EP.308) · IDENTIFIED FROM THE TRANSCRIPT · source

22. “No, totally. And I remember the whole idea to invest and buy sale point came out of that industry work that we did. So we knew that it was the business that we wanted to buy, which is pretty typical for us in our process. And that's why we were so well informed when we met the first time. So despite the fact that that's a decade ago, our process has remained pretty consistent. And that's a really good testament to how we try to show up in these sorts of opportunities. We had that dinner. We did our work, everything checked out. We're super excited. And then for us, I remember the meeting that kind of sealed it as something we definitely wanted to do was in the basement of the W Hotel. I probably two months later, three months later, I don't remember the exact timeline. And Orlando and I were there. I think you, Kevin, and Cam were there.”

    2023-04-13 · Capital Allocators · Thoma Bravo's Behind the Deal Podcast (Capital Allocators, EP.308) · IDENTIFIED FROM THE TRANSCRIPT · source

23. “Well, and I have another recollection of that first meeting, Seth. You're right. There was a bit of feeling each other out. What we all talked about, you all went off and had your private conversation after dinner. Our private conversation after dinner was, wow, these guys really get security. Like that was our big takeaway. We walked away going, okay, wasn't expecting to talk to a PE firm, but man, these guys know the market. Like they've done a lot of work. They really understand what's happening. And I think what really impressed us, and I guess to give them credit, it was kind of Chip and Andrew at the time had really dug in to understand that identity, while it was a pretty new space, had some different nuances to it. Hardly anyone understood that at that time. And they got that we were different than a couple of the other identity plays that were already getting some high visibility in the market. And I think we went, oh, these guys could be a really good partner because they get it.”

    2023-04-13 · Capital Allocators · Thoma Bravo's Behind the Deal Podcast (Capital Allocators, EP.308) · IDENTIFIED FROM THE TRANSCRIPT · source

24. “So at the time, Chip and Andrew are both now partners, and they're my partners in our cybersecurity side of the business. We've worked together. I've worked with Chip since 2008 and Andrew since 2012. At the time, Andrew would have been brand new as an associate and Chip would have been a vice president. That's right. And it was a really busy. Investment summer. There was all sorts of stuff going on that summer. And I remember especially Andrew was really kept reminding us don't forget about SalePoint. And I'm obviously very happy that he did.”

    2023-04-13 · Capital Allocators · Thoma Bravo's Behind the Deal Podcast (Capital Allocators, EP.308) · IDENTIFIED FROM THE TRANSCRIPT · source

25. “In late May of 2013, as we were getting close to the end of a potential large strategic deal, our company had 90 or 100 people, and they brought over 100 people to Austin to do due diligence on the company, which, to put it mildly, was very disappointing. We went into a fundraising mode, and the banking firm that was kind of helping us with the deal kind of went out to check the market. And Seth, as you said, we actually just weren't expecting a PE firm to show up in the dialogue. We're like, oh, we just didn't expect that.”

    2023-04-13 · Capital Allocators · Thoma Bravo's Behind the Deal Podcast (Capital Allocators, EP.308) · IDENTIFIED FROM THE TRANSCRIPT · source

26. “Nice jabs. Nice jabs, but it felt like we were sort of there to prove ourselves a little bit that we could be a good partner, you know, to you and the team, given all the amazing things that you had done. And I remember there was the strategic deal that fell apart.”

    2023-04-13 · Capital Allocators · Thoma Bravo's Behind the Deal Podcast (Capital Allocators, EP.308) · IDENTIFIED FROM THE TRANSCRIPT · source

27. “So I think I probably spent most of the dinner trying to be cool enough to be interesting to a super high growth, very exciting innovator in identity security. But my impression was like there was a little bit of like sort of feeling each other out. It was like the beginning of a boxing match.”

    2023-04-13 · Capital Allocators · Thoma Bravo's Behind the Deal Podcast (Capital Allocators, EP.308) · IDENTIFIED FROM THE TRANSCRIPT · source

28. “Historically, and especially in tech, private equity was not buying companies that were considered innovators or high growth. So it was a departure from what you would see in a typical private equity investment at the time. It's become our business today and SalePoint was really for us the first investment that looked that way. And as a result of that, we took a risk in making the investment. It was a huge decision for us at the time. And the fact that it worked and worked so well really propelled us into a new realm of technology investing. So even today, you don't see the industry for the most part making investments in the sorts of innovative companies that we do. And it all started for us with SalePoint.”

    2023-04-13 · Capital Allocators · Thoma Bravo's Behind the Deal Podcast (Capital Allocators, EP.308) · IDENTIFIED FROM THE TRANSCRIPT · source

29. “I did give a little of that backdrop. It was surprising to us that private equity firms were interested in our company because we didn't think we were the kind of company that private equity firms would want to play with because we didn't represent what we thought. From our perspective, what we thought was typical”

    2023-04-13 · Capital Allocators · Thoma Bravo's Behind the Deal Podcast (Capital Allocators, EP.308) · IDENTIFIED FROM THE TRANSCRIPT · source

30. “Quickly to about five or six firms. But what was surprising to us was that half of those firms, maybe two-thirds, were private equity firms. And we were like, wait a minute, I didn't think this was where the private equity firms played. We were raising growth money. We were still a very high growth startup north of 60% annually at that time, but barely making money, to be blunt. And so we were like, oh, we didn't think that fit the model. But anyways, we began to engage, and Toma Bravo ended up being not only one of the finalists, but the winner of the deal, as it were. And so unexpectedly, by the way, we thought rather than just bringing in a new significant investor, all of our old venture capital investors left. And Toma Bravo was the sole owner of the business at that point in 2014.”

    2023-04-13 · Capital Allocators · Thoma Bravo's Behind the Deal Podcast (Capital Allocators, EP.308) · IDENTIFIED FROM THE TRANSCRIPT · source

31. “About 2013, we had gotten enough momentum and notoriety of business. So we had a couple of interested, what we call strategic big tech companies that were kind of interested in talking to us. And without naming who, let's just say we went way down the path in one of those time metaphors. It was 1158 on the clock. And we thought we were about to get something done and it didn't happen. And so the board and the manuscript team said, hey, okay, fine, that's not going to happen right now. Let's keep going. And we decided to go out and raise what was generally referred to as a growth equity round. Like we're not interested in selling the business. We just want to grow the business and take a significant infusion of capital. So the banking firm that it helped us work on that deal that never got done said, hey, we can help you guys with that process. And we said, great. So they started putting together a pitch, talking to people. And they said, okay, we've got a short list of people we'd like you to talk to. That was maybe 20 firms. And then that narrow.”

    2023-04-13 · Capital Allocators · Thoma Bravo's Behind the Deal Podcast (Capital Allocators, EP.308) · IDENTIFIED FROM THE TRANSCRIPT · source

32. “When people ask us about the clients we serve, one of the challenging things is when you're in security in general, a lot of your best clients aren't willing to tell people that you are their client or they are your client. And so what we usually say is if you get a list of the Fortune 100 or the Fortune 500, if you were to pick about every fourth or fifth name, that's a pretty good representation of our customers.”

    2023-04-13 · Capital Allocators · Thoma Bravo's Behind the Deal Podcast (Capital Allocators, EP.308) · IDENTIFIED FROM THE TRANSCRIPT · source

33. “Got really excited back in 2013 and 2014 about what they were doing in identity, which was an area of security that we hadn't invested in yet. And our security team had really done a deep dive into this whole area of identity being a really interesting, fast-growing space within the overall security market and identified sale point as a company that we would really want to buy if we ever could.”

    2023-04-13 · Capital Allocators · Thoma Bravo's Behind the Deal Podcast (Capital Allocators, EP.308) · IDENTIFIED FROM THE TRANSCRIPT · source

34. “He could cover a whole lot of bad behavior. And interestingly enough, that story happened in about 2007, I think, might have been 2008. We had launched the company effectively at the beginning of 06. So we were just kind of coming out of stealth mode, as they say, just kind of unveiling our product value proposition to the market. And effectively, we used that story to say if they had had our type of technology, this wouldn't have happened. By the way, interesting little subnote, later on, they became a customer. We weren't there in time to fix that, but we hopefully have helped prevent that from ever happening again. So that story and our ability to articulate what had gone wrong and why a product like ours would have helped prevent that, definitely kind of started to raise the visibility of this problem.”

    2023-04-13 · Capital Allocators · Thoma Bravo's Behind the Deal Podcast (Capital Allocators, EP.308) · IDENTIFIED FROM THE TRANSCRIPT · source

35. “Name is Mark McLean. I'm privileged to serve as CEO and one of the co founders of SailPoint Technologies here in Austin, Texas. Points a little over 17 year old company, which is actually mind boggling for me to say if you had asked me at the beginning of Sailpoint whether I thought I would be here 17 years later, the answer would have been an emphatic no way. Just wasn't expecting that journey. But our company's in a space called Enterprise Identity Management. And to give ourselves credit but not undue credit, I think we picked in a good, attractive market space to go into. There were some real needs that we understood at that time in the market. But the part I tried to stay humble about is I don't think any of us foresaw how attractive this market would become over the next decade plus.”

    2023-04-13 · Capital Allocators · Thoma Bravo's Behind the Deal Podcast (Capital Allocators, EP.308) · IDENTIFIED FROM THE TRANSCRIPT · source

36. “So we had a great run with them as a private company. Then the company went public and we had a great run together with them as a public company. And after a while of them being a great public company, Mark, with this incredible relationship with Seth, thought about the next stage for them and what the next stage would take. And he thought that in order to accomplish the best as they could in their journey with employees and customers and their ecosystem, that the best step for them was to go private and who better to do it with than his close partner said than we had worked together for so long that we were able to pull another great deal together with them.”

    2023-04-13 · Capital Allocators · Thoma Bravo's Behind the Deal Podcast (Capital Allocators, EP.308) · IDENTIFIED FROM THE TRANSCRIPT · source

37. “I said, wow, do we see things the same way? So at the end, we did have to compete as well on price. And we won both. I thought we won the management relationship because we were the right partner at the right time for the company and management saw it that way. And we delivered as well the right value because we had enough conviction from them to be able then to deliver that value.”

    2023-04-13 · Capital Allocators · Thoma Bravo's Behind the Deal Podcast (Capital Allocators, EP.308) · IDENTIFIED FROM THE TRANSCRIPT · source

38. “After our meeting, Mark and his co founder called us back, and they wanted to learn more about what we were about, and they wanted our references and they wanted to start talking to other CEOs that we had partnered with in the past. And it is such a good sign when you see leaders doing that. Because think about it, you're going to partner with an investment firm for many years going forward. You better make sure that that partner is exactly what you're looking for and that there is not only a cultural fit, but there's a track record behind your value add and what you're discussing. I remember the deal started going well from that perspective. And I took a vacation in Europe for a week. I remember it was that summer of 2013. And when I was on vacation, Mark called me and he was talking to Seth and he wanted more references and he wanted to learn more. And instead of me being on vacation, I was so fired up that I just kept talking to man.”

    2023-04-13 · Capital Allocators · Thoma Bravo's Behind the Deal Podcast (Capital Allocators, EP.308) · IDENTIFIED FROM THE TRANSCRIPT · source

39. “And I remember talking to Seth and saying we have to do this deal. We have to figure out a way to come together with a company. So we had a meeting with Mark and his team. And in that meeting, we said it like it was. Our approach is to help these great innovators like you also become great businesses. And to do that, we really love to be involved in the operating dialogue. We're very detailed oriented on execution of doing things right and sales efficiency and sales investment, on product efficiency and product investment, of really running each area of the business best in class. And it was really interesting because you had other great investment firms pitching all the good stuff, growth and investments. And we were very real with Mark and the team.”

    2023-04-13 · Capital Allocators · Thoma Bravo's Behind the Deal Podcast (Capital Allocators, EP.308) · IDENTIFIED FROM THE TRANSCRIPT · source

40. “Really see eye to eye with the management team of the company you're going to invest in or acquire. And in the case of SalePoint, seeing things in a similar way happen very quickly with Mark, the founder of SalePoint, and his team. We met SailPoint, and at the time we met him, we were actually rather late in the deal process. They were talking to some investment firms about doing either a minority investment or a majority recapitalization. And there were this unbelievably great identity management software company growing really quickly with an excellent culture, very well put together, just like they are now.”

    2023-04-13 · Capital Allocators · Thoma Bravo's Behind the Deal Podcast (Capital Allocators, EP.308) · IDENTIFIED FROM THE TRANSCRIPT · source

41. “I think if we had tried to conform sale point at that early stage of its life to a more EBA to heavy model, we wouldn't have had the outcome we had. Mark, I think we should tell everybody what EBA does. Earnings before income, taxes, depreciation, and amortization. Is that right, Sash? Yes, earnings before interest. Interest. I said income. Sorry. Do you want to do it again, Mark? No, actually, I'd rather be wrong and let them. Actually, you should poke fun at me. That would even be better. I mean, you pretty much got it.”

    2023-04-13 · Capital Allocators · Thoma Bravo's Behind the Deal Podcast (Capital Allocators, EP.308) · IDENTIFIED FROM THE TRANSCRIPT · source

42. “Dropping a special episode that gives you an inside perspective on how deals are made at the world's largest tech-focused buyout firm, Toma Bravo. Toma Bravo has launched a new podcast called Behind the Deal, where listeners are introduced to top Toma Bravo investment partners and CEOs to hear their first-hand account of the challenges and wins of their partnership. In this episode, Toma Bravo Managing Partner Seth Borrow speaks with SailPoint co-founder and CEO Mark McLean about how they forged a relationship that led to Toma Bravo's first IPO and eventually led to acquiring SailPoint twice over the course of a decade. If you enjoyed this episode, check out Tomobravo's Behind the Deal podcast on their feed. Episodes drop every other Thursday and are presented by founder and managing partner Orlando Bravo, also dubbed Wall Street's Best Dealmaker by Forbes.”

    2023-04-13 · Capital Allocators · Thoma Bravo's Behind the Deal Podcast (Capital Allocators, EP.308) · IDENTIFIED FROM THE TRANSCRIPT · source