Select Interior Concepts Inc. (SIC) said that it agreed to sell its Residential Design Services segment or "RDS," in an all-cash transaction to Interior Logic Group, a portfolio company of Blackstone. The transaction is valued at about $215 million and is expected to close mid-2021.

Create Account

Dark

chart

exchange

Check out our Level2View

Select Interior Concepts Inc. (SIC) said that it agreed to sell its Residential Design Services segment or "RDS," in an all-cash transaction to Interior Logic Group, a portfolio company of Blackstone. The transaction is valued at about $215 million and is expected to close mid-2021.

RTTNews | May 9, 2021 09:54PM EDT

21:53 Sunday, May 9, 2021 (RTTNews.com) - Select Interior Concepts Inc. (SIC) said that it agreed to sell its Residential Design Services segment or "RDS," in an all-cash transaction to Interior Logic Group, a portfolio company of Blackstone. 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.

Select Interior Concepts expects full year Adjusted EBITDA of $31 million to $33 million, which excludes RDS' impact for the year.

Read the original article on RTTNews ( https://www.rttnews.com/3193112/select-interior-concepts-to-sell-rds-segment-to-interior-logic-group-for-215-mln.aspx)

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2021 RTTNews.com All Rights Reserved