M&A Deal Summary

The Blackstone Group Acquires Interior Logic

On February 1, 2021, private equity firm The Blackstone Group acquired construction company Interior Logic from Platinum Equity and Littlejohn for 1.6B USD

Acquisition Highlights
  • This is The Blackstone Group’s 2nd transaction in the Construction sector.
  • This is The Blackstone Group’s 65th largest (disclosed) transaction.
  • This is The Blackstone Group’s 170th transaction in the United States.
  • This is The Blackstone Group’s 16th transaction in California.

M&A Deal Summary
Date 2021-02-01
Target Interior Logic
Sector Construction
Buyer(s) The Blackstone Group
Sellers(s) Platinum Equity
Littlejohn
Deal Type Secondary Buyout
Deal Value 1.6B USD

Target

Interior Logic

Irvine, California, United States
website
Interior Logic is a provider of outsourced design center and installation services to homebuilders for new housing construction, including flooring, cabinets, countertops, other home finishes, as well as repair and remodel services to multi-family property owners. Interior Logic Group is based in Marietta, Georgia.

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Buyer(S) 1

Buyer

The Blackstone Group

New York, New York, United States

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 1987
PE ASSETS 131.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

The Blackstone Group is a global alternative investment management firm. The Firm's investment activities span real estate, secondary investments, hedge funds, credit, infrastructure, and private equity. Blackstone's private equity group targets opportunities globally including buyout acquisitions of established companies, development projects, growth equity financings, and industry consolidations. Sectors of interest include automotive, healthcare, chemicals, industrial, commercial property, lodging, communications, media/publishing, consumer & retail, packaging, consumer products, pharmaceuticals, energy, technology, entertainment, telecommunications, financial services, theme parks, food & beverage, and transportation. Blackstone's private equity real estate group looks for opportunities across North/South America, Asia, Australia/New Zealand, and Europe. The real estate group will consider both equity and debt investments. Areas of interest include healthcare, hotel, industrial, office, residential, and retail. The Blackstone Group was formed in 1987 and is based in New York City.

DEAL STATS #
Overall 275 of 310
Sector (Construction) 2 of 2
Type (Secondary Buyout) 55 of 68
State (California) 16 of 18
Country (United States) 170 of 196
Year (2021) 2 of 25
Size (of disclosed) 65 of 164
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-01-29 Bourne Leisure

Hertfordshire, United Kingdom

Bourne Leisure is a provider of holidays and holiday home ownership in the UK and comprises of the holiday brands of Haven, Butlin’s, and Warner Leisure Hotels. Our brands are amongst the most recognized within the UK holiday market, and we own and operate leisure assets on 6,500 acres of some of the best leisure real estate in the UK. Bourne Leisure was founded in 1964 and is based in Hertfordshire, United Kingdom.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-02-05 Signature Aviation

London, United Kingdom

Signature Aviation is a provider of global aviation support services focused on flight support services and the aviation aftermarket, primarily in the business and general aviation sector. Signature Aviation was founded in 1879 and is based in London, the United Kingdom.

Buy $4.7B

Seller(S) 2

SELLER

Platinum Equity

Beverly Hills, California, United States

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 1995
PE ASSETS 36.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION
Platinum Equity's headquarters in Beverly Hills, California.
Platinum Equity's headquarters in Beverly Hills, California.

Platinum Equity is a private equity firm focused on acquiring divestitures of larger public companies primarily in North America and Europe. Historically, Platinum targeted technology/software related businesses, however, the firm has since branched out beyond tech and will consider acquisitions in a broad range of industries including chemicals, communications, logistics, healthcare, automotive, industrial products, and business services. Platinum Equity was formed in 1995 by Tom Gores and is based in Beverly Hills, California.

DEAL STATS #
Overall 68 of 75
Sector (Construction) 2 of 2
Type (Secondary Buyout) 19 of 20
State (California) 5 of 5
Country (United States) 57 of 62
Year (2021) 1 of 8
Size (of disclosed) 3 of 20
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-01-04 Mad Engine

San Diego, California, United States

Mad Engine is a full-service, global apparel, and accessories company that creates, designs, produces, and distributes a full range of licensed, private label, and branded products. Mad Engine LLC was founded in 1987 and is based in San Diego, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-03-01 Sensis Pty

Melbourne, Australia

Sensis is a print and online directory and digital advertising services provider in Australia. The company is organized into three distinct business segments: White Pages, Yellow Pages, and Digital Partnership and Innovation.

Sell $200M
SELLER

Littlejohn

Greenwich, Connecticut, United States

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 1996
PE ASSETS 10.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Littlejohn & Co. is a private equity firm that makes control investments in mid-sized companies undergoing change; either in capital structure, strategy, operations, or growth. Littlejohn looks to commit $50 to $150 million of equity capital in companies with annual revenues of $100 to $800 million. Sectors of interest include industrial equipment, packaging, chemicals, automotive and transportation parts and equipment, food and food processing, healthcare, plastics, aerospace/defense, distribution, environmental and infrastructure services, and consumer products. The Firm avoids investing in real estate, fashion, retail, and businesses engaged in high technology. Littlejohn prefers opportunities located in the US, but also considers opportunities in Europe and Canada. Littlejohn & Co. was formed in 1996 and is based in Greenwich, Connecticut.

DEAL STATS #
Overall 37 of 40
Sector (Construction) 2 of 2
Type (Secondary Buyout) 13 of 14
State (California) 4 of 4
Country (United States) 33 of 36
Year (2021) 1 of 4
Size (of disclosed) 1 of 10
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-08-03 Benevis

Marietta, Georgia, United States

Benevis provides various non-clinical services to group dental practices, including providing dental facilities, support staff, and other business services. Kool Smiles and Resolution Dental are the firm’s two major clients. Kool Smiles is a nationally-branded provider of dental care focused primarily on children enrolled in Medicaid and State Children's Health Insurance Programs. The limited access to care for children on Medicaid/SCHIP plans provides an attractive growth opportunity for Kool Smiles as it continues to expand offices with a mission to provide quality care to this underserved population. Benevis was founded in 2002 and is based in Marietta, Georgia.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-06-01 Alliance Ground International

Miami, Florida, United States

Alliance Ground International is a North American provider of specialized air cargo and ramp handling services to the aviation industry. The company provides on-airport handling, warehousing, cold storage, pallet buildup/breakdown, mail sorting, and aircraft loading and unloading services to over 80 air carrier customers from its strategic operating footprint of 33 facilities at 21 airports across the United States. AGI is headquartered in Miami, Florida.

Sell -
Mergr

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