Franklin Square Capital Partners announced the upsizing of its senior secured investment in Blueprint Sub, Inc. (doing business as iSqFt), a Cincinnati, OH headquartered provider of software and bid information to the commercial construction industry. The upsized commitment finances the merger of iSqFt and CMD Group, a Norcross, GA headquartered provider of construction information.
The financing was provided by FS Investment Corporation, FS Investment Corporation II (FSIC II) and FS Investment Corporation III (FSIC III), BDCs managed by affiliates of Franklin Square and sub-advised by GSO / Blackstone Debt Funds Management LLC (GDFM), an affiliate of GSO Capital Partners LP (GSO).
The combination of iSqFt and CMD Group brings together businesses with complementary strengths in different segments of the construction sector, creating an organization with an enhanced product offering and a strong technology platform focused on innovation. The combined organization will provide comprehensive construction data and software solutions for customers across North America.
iSqFt is a portfolio company of Genstar Capital, a San Francisco, CA based middle market private equity investment firm focused on the software, healthcare, financial services and industrial technology sectors. iSqFt is also a portfolio company of Warburg Pincus, a global private equity firm focused on growth investing, via the merger with CMD Group.
"The upsizing of our investment in iSqFt demonstrates the flexibility of our financing capabilities as well as our commitment to our portfolio companies," said Michael C. Forman, Chairman and Chief Executive Officer of FSIC, FSIC II and FSIC III.
FSIC is a publicly traded BDC focused on providing customized credit solutions to private middle-market U.S. companies. FSIC seeks to invest primarily in the senior secured debt and, to a lesser extent, the subordinated debt of private middle market companies to achieve the best risk-adjusted returns for its investors. In connection with its debt investments, FSIC may receive equity interests such as warrants or options.
FSIC is advised by FB Income Advisor, LLC, an affiliate of Franklin Square, and is sub-advised by GDFM, an affiliate of GSO. GSO, with approximately $81.3 billion in assets under management as of June 30, 2015, is the credit platform of Blackstone, one of the world's leading managers of alternative investments. For more information, please visit www.fsinvestmentcorp.com.
Franklin Square is a leading manager of alternative investment funds designed to enhance investors' portfolios by providing access to asset classes, strategies and asset managers that typically have been available to only the largest institutional investors. The firm's funds offer "endowment-style" investment strategies that help construct diversified portfolios and manage risk. Franklin Square strives not only to maximize investment returns but also to set the industry standard for best practices by focusing on transparency, investor protection and education for investment professionals and their clients.