Dinsmore Represents iSqFt in Sale to Genstar Capital
Dinsmore & Shohl represented iSqFt, a software-as-a-service provider for the construction industry, in a complex reverse triangular merger involving an industry competitor and a private equity firm.
Genstar Capital, a private equity firm that focuses on investing in software and technology companies, purchased iSqFt and BidClerk, another software-as-a-service provider. The merger created an integrated company to serve the software, data and technological needs of the commercial construction industry. The price of the transaction remains confidential. The Dinsmore team counseled iSqFt on all aspects of the transaction including tax analysis of the structure of the transaction, assisting in the bid process, negotiation with Genstar and BidClerk concerning the terms of the transaction and allocation of transaction proceeds, disclosure to stockholders and analysis of the distribution of proceeds to its stockholders through iSqFt’s complex waterfall. Through the diligent efforts of the Dinsmore team, the transaction successfully closed within the tight timeline that the parties established for this transaction.
Dinsmore’s Mark Bissinger and Jason Sims led the team, which also included Noah Stern, David Whaley, Christopher Deabler, Allan Daily, Nicole Hanna, Kevin Simon and Luke Swain.