Franklin Square Provides Senior Secured Financing for iSqFt’s Merger with CMD Group

Franklin Square Capital Partners, a manager of business development companies, 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 provider of construction information headquartered in the Atlanta, Georgia suburb of Norcross.

The financing was provided by FS Investment Corporation (NYSE: FSIC), FS Investment Corporation II and FS Investment Corporation III, business development companies managed by affiliates of Franklin Square and sub-advised by GSO / Blackstone Debt Funds Management LLC, an affiliate of GSO Capital Partners LP.

iSqFt is a portfolio company of Genstar Capital, a San Francisco 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 Forman, chairman and chief executive officer of FSIC, FSIC II and FSIC III.

Founded in Philadelphia in 2007, Franklin Square is a 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. As of June 30, 2015, the firm managed approximately $16.8 billion in total assets, including $15.4 billion in BDC assets, making it the largest manager of BDCs.

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