Private equity funds managed by investment firm Blackstone have reached a definitive agreement to acquire Interior Logic Group Holdings from Littlejohn & Co., Platinum Equity, and other equity holders, for a total transaction value of approximately $1.6 billion.
Interior Logic Group is a data-driven and technology-enabled provider of interior design, supply chain, and installation management solutions to several of the nation’s largest single-family home builders. The company delivers critical information and support during the journey of moving into a new home, and utilizes technology, data, design expertise, and supplier relationships to help enable buyers to complete their home purchases.
“We are very excited about Interior Logic Group’s future,” says Seth Meisel, senior managing director at Blackstone. “Already an industry leader, Interior Logic Group has tremendous potential to build on its strong foundation supporting home builders and homeowners. We look forward to partnering with Interior Logic Group in the years ahead to help expand its geographic reach, enhance its technological innovation, and develop new opportunities.”
Interior Logic Group operates across 37 states and serves national, regional, and local home builders, providing its capabilities to help enable the completion of nearly 100,000 homes per year.
“This announcement is a testament to our team’s hard work and the company we have built,” says Alan Davenport, CEO and chairman of Interior Logic Group. “As we look to the future, we believe Blackstone will be an excellent strategic partner for our business as we accelerate our planned growth initiatives and provide additional support and expertise to our value-added technology solutions for our customers. Additionally, Littlejohn and Platinum Equity have been terrific partners, providing significant operational expertise and resources, and helping us establish our position as a market leader.”
The transaction is subject to customary closing conditions and is expected to close in the second quarter of 2021.