Blackstone to Buy Interior Logic for $1.6 BilIon
<span style="font-weight: 400;">Blackstone Group Inc. is buying Interior Logic Group Inc. for about $1.6 billion including debt, preempting the company’s initial public offering and bolstering a bet on single-family housing.</span> <span style="font-weight: 400;">Private equity funds managed by B
Published -
Feb 3, 2021 4:38 AM
Blackstone Group Inc. is buying Interior Logic Group Inc. for about $1.6 billion including debt, preempting the company’s initial public offering and bolstering a bet on single-family housing. Private equity funds managed by Blackstone are acquiring the interior-design technology provider from a group including Littlejohn & Co. and Platinum Equity. Interior Logic also provides supply-chain and installation-management services to homebuilders. The Irvine, California-based company operates in 37 states. Blackstone hopes to expand the company’s geographic reach and enhance its technology, said Seth Meisel, a senior managing director with the firm. “ILG’s technology, relationships and purpose position it exceptionally well in the single-family real estate value chain,” Vikram Suresh, a managing director at Blackstone, said. The investment is being done through the firm’s private equity business.
Tags : ALLIED Blackstone Buy Interior Logic