Blackstone To Buy Interior Logic Group Holdings For About $1.6 Bln

(RTTNews) - Blackstone (BX) Monday announced it agreed to buy Interior Logic Group Holdings, LLC from Littlejohn & Co. LLC, Platinum Equity and other equity holders, for a transaction value of about $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 homebuilders. ILG operates across 37 states, providing its capabilities to help enable the completion of nearly 100,000 homes per year.

Seth Meisel, a Senior Managing Director at Blackstone, said: "We are very excited about ILG's future. Already an industry leader, ILG has tremendous potential to build on its strong foundation supporting homebuilders and homeowners. We look forward to partnering with ILG in the years ahead to help expand its geographic reach, enhance its technological innovation, and develop new opportunities."

The transaction is subject to customary closing conditions, and is expected to close in the second quarter of 2021.