Select Interior Concepts to Sell Residential Design Services Segment to Interior Logic
Atlanta, GA, May 10, 2021-Select Interior Concepts (SIC), an installer and nationwide distributor of interior building products, agreed to sell its Residential Design Services segment in an all-cash transaction to Interior Logic Group.
The transaction is valued at about $215 million and is expected to close mid-2021.
SIC plans to use the proceeds from the transaction to repay all its outstanding indebtedness and capital lease obligations.
Interior Logic, based in Irvine, California, is a provider of flooring and other interior finishes for homebuilders. The company was acquired by Blackstone Group in February 2021.
Interior Logic Group was number five on Floor Focus' Top 100 Retailers list in 2020.