Your Father’s Enterprise SaaS Company

SolarWinds (NYSE: SWI $17-19) will be returning to the public markets this week after being taken private by private equity firms Silver Lake and Thoma Bravo in February of 2016 in a $4.5B deal. In the middle of the range, the company would have a market capitalization of $5.4B. Post-IPO these PE companies will still own about 83% of the company - making it a "controlled business." As expected from a PE-controlled business, SWI will carry $2B on the balance sheet post-IPO.

It's not clear that the PE ownership period resulted in . . .

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