Blackstone to Buy Interior Logic for $1.6 Billion in Housing Bet
- Deal preempts the company’s planned IPO filed last month
- Interior Logic provides design technology to homebuilders
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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, according to an emailed statement Monday. Last month, Interior Logic applied to list on the Nasdaq under the ticker “ILG.”