Caltius Structured Capital Closes Junior Capital Investment in Building Systems Design
September 6, 2017
Los Angeles, CA, September 2017 – Caltius Structured Capital (formerly known as Caltius Mezzanine) announced today that it facilitated the management buy-out of Building Systems Design (“BSD”), through a recapitalization with debt and equity securities. The current owner, the Construction Specifications Institute, will remain as a minority equity holder and key strategic partner.
In addition to the new financing from Caltius, two well-respected and highly experienced industry experts, Arol Wolford and Iain Melville, join CEO Chris Anderson on the leadership team as Executive Chairman and Chief Innovation Officer, respectively. Wolford and Melville are visionary thought-leaders with expertise, leadership and passion for the architecture, engineering, construction and owner-operated (AECO) space technology.
“We immediately liked BSD’s command of the space, specifically the SpecLink-E database functionality and the value it brings to designers and building product manufacturers. The opportunity to drive efficiency in the AECO vertical with product innovation is significant. Management has made this a core focus of BSD’s strategy,” noted Gavin Bates, Managing Director of Caltius Structured Capital. “We are excited to support this leadership team in their recapitalization of the business and look forward to a successful partnership.”
Atlanta, Georgia-based BSD provides advanced specification technology and interoperability solutions for the AECO sector. BSD will continue to lead the built tech industry toward more accurate, collaborative and efficient design and construction through the innovation made possible by the combined expertise across the team, investment in new products and the continuing ownership involvement of CSI.
“Caltius provided us with the capital we needed to re-structure the BSD ownership in a timely and efficient manner,” noted Chris Anderson, CEO of BSD. “They quickly understood our business and the opportunity to innovate in the space. We look forward to working with them as we grow the business.”