Three BDCs Originate Senior Secured Loan to a Genstar Capital Portfolio Company

Franklin Square Capital Partners (FSCP), manager of business development companies (BDC), recently originated a senior secured term loan to Blueprint Sub, Inc. which conducts business as iSqFt, a construction software company.

A provider of cloud-based software tools, data, and analytics for contractors and building product manufactures, iSqFt’s bid management software helps streamline bidding and project supervision.

FS Investment Corporation (NYSE: FSIC), a publicly traded BDC plus FS Investment Corporation II and FS Investment Corporation III, two non-traded BDCs, collectively provided the financing.

iSqFT will use the funds to improve its balance sheet and support two acquisitions of construction data companies BidClerk and CDC Publishing.

Genstar Capital, a San Francisco-based middle market private equity investment firm, acquired iSqFT in October 2014.

“We are excited to work with Genstar and iSqFt to finance one of the largest construction software companies in the marketplace today,” said Michael C. Forman, Chairman and Chief Executive Officer of each of the three BDCs.

Forman added, “The scale of our platform gives us the ability to provide customized financing solutions to our clients and to support our portfolio companies as they develop and grow their businesses.”

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