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FT Partners Advises BlueTarp on its $15mm Financing

FT Partners Advises BlueTarp on its $15mm Financing
Overview of Transaction
  • On July 23, 2013, BlueTarp announced it closed a $15mm equity round led by new investor Long Ridge Equity Partners
  • BlueTarp's existing investor group, including Highland Capital Partners, Flybridge Capital Partners, Village Ventures and Trinity Ventures, also participated in the round
  • The equity infusion was completed in conjunction with the expansion of the Company's credit facility with Wells Fargo Capital Finance
  • BlueTarp Financial is a leading trade credit provider for the building supply industry and manages the in-house trade credit programs of thousands of building supply dealers across the United States
  • Long Ridge Equity is a private investment firm focused on the financial services industry
Significance of Transaction
  • The equity investment along with the increased credit facility positions BlueTarp to continue its rapid growth and significantly expand the number of building supply dealers in its program
  • Additional capital also supports continued expansion into new territories and the development of new Contractor oriented payment services
  • The investment further validates BlueTarp's leading offering in the specialty finance / payments space
FT Partners' Role
  • FT Partners served as the exclusive strategic and financial advisor to BlueTarp and its investors
  • FT Partners leveraged its deep industry expertise to provide critical advisory services throughout the transaction
  • Underscores FT Partners' continued success in advising a broad range of top-tier financial technology companies