Beverly Hills-based Platinum Equity’s portfolio company, Interior Logic Group, announced its merger with competitor Interior Specialist Inc. on May 1. Terms of the deal were undisclosed.
Private equity firm Platinum owns Interior Logistics and Greenwich, Conn.-based investment firm Littlejohn & Co. owns Interior Specialist. The investment funds are now joint owners, according to the companies.
Interior Logistics and Interior Specialist are two of the largest providers of interior finishing services including installation to homebuilders, multifamily owners and big box retailers. Combined, the new company is estimated to be worth $1.5 billion.
The merger will see the entity operate under the Interior Logic Group name and count 4,300 employees on its payroll with 225 locations. The deal is expected to close in the second quarter of 2018.
Manufacturing and trade reporter Shwanika Narayan can be reached at email@example.com or 323-556-8351. Follow her on Twitter @shwanika.