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
- 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 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