NEW YORK–(BUSINESS WIRE)–Feb 1, 2021–
Blackstone (NYSE:BX) today announced that private equity funds managed by Blackstone (“Blackstone”) have reached a definitive agreement to acquire Interior Logic Group Holdings, LLC (“ILG”) from Littlejohn & Co. LLC (“Littlejohn”), Platinum Equity and other equity holders, for a total transaction value of approximately $1.6 billion.
ILG is a leading, 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. The company delivers to homebuilders and prospective homeowners 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. 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.”
Vikram Suresh, a Managing Director at Blackstone,