Interior Logic Group Inc has acquired Sarasota, Florida-based Sterling Manufacturing, a countertop and cabinetry installation business. No financial terms were disclosed. Interior Logic Group Inc recently merged with Interior Specialists Inc to form a new company owned by Platinum Equity and Littlejohn & Co. LLC.
IRVINE, Calif. & SARASOTA, Fla.–(BUSINESS WIRE)–Interior Logic Group, Inc. (“ILG”) is pleased to announce that the company recently completed the acquisition of Sterling Manufacturing (“Sterling”), a countertop and cabinetry installation business headquartered in Sarasota, FL. The acquisition represents a significant expansion of ILG’s business in southwest Florida.
Sterling Manufacturing fabricates and installs countertops and installs cabinets, primarily for homebuilders from Tampa to Naples. Interior Logic Group is the largest installation services provider of flooring, countertops and cabinets to the single-family housing market in the United States and within the state of Florida.
Sterling’s exemplary service record and reputation with its roster of production builder customers make it an excellent fit within the ILG organization. Tom Shapiro, President of Sterling, said, “Sterling’s employees and customers are excited about this partnership and the opportunity it presents to deliver even greater value to our customers. We believe the best practices shared between our companies will further differentiate us from our competitors. The relationship with ILG offers deep access to capital and investment to deploy the latest technologies and equipment available in our industry.”
Mark Fikse, ILG’s EVP of Business Development and Operations said, “This acquisition is our third acquisition in Florida and positions us to be the leading interior service provider for homebuilders in Florida. Additionally, this brings ILG its 10th countertop fabrication facility in the country.”
Interior Logic Group recently completed a merger with Interior Specialists, Inc. to form a new $1.5 billion company owned jointly by Littlejohn & Co., LLC and Platinum Equity, in addition to its senior leadership team. Sterling represents the first acquisition by the combined ILG business in a fragmented competitive landscape. ILG President and CEO Alan Davenport said, “ILG’s acquisition of Sterling is the first of what will be many acquisitions of businesses with similar core values to ILG with excellent customer relationships and robust financial performance. We are enthusiastic about the path ahead as ILG ramps its growth profile both organically and inorganically.”
About Interior Logic Group, Inc.:
Interior Logic Group, Inc., is the nation’s leading provider of turn-key design center management and installation services operating in over 220 locations across the United States. ILG provides services and interior finish solutions to single family residential homebuilders, apartment owner/operators, and fulfillment partners and is the leading full-service provider of outsourced homebuilder-branded design centers. The Company has long-standing, entrenched customer relationships and its customer base includes a diverse mix of national and regional customers. Primary products handled on a turn-key basis include flooring, cabinets, countertops, window treatments and builder construction options.
For more information about Interior Logic Group visit www.interiorlogicgroup.com or email firstname.lastname@example.org.
About Littlejohn & Co.:
Littlejohn & Co., LLC is a Greenwich, Connecticut-based investment firm focused on private equity and debt investments primarily in middle market companies. With over $7 billion under management, the Firm seeks to build sustainable success for its portfolio companies through a disciplined approach to engineering change. For more information about Littlejohn, visit www.littlejohnllc.com.
About Platinum Equity:
Founded in 1995 by Tom Gores, Platinum Equity is a global investment firm with $13 billion of assets under management and a portfolio of more than 30 operating companies that serve customers around the world. The firm is currently investing from Platinum Equity Capital Partners IV, a $6.5 billion global buyout fund. Platinum Equity specializes in mergers, acquisitions and operations – a trademarked strategy it calls M&A&O® – acquiring and operating companies in a broad range of business markets, including manufacturing, distribution, transportation and logistics, equipment rental, metals services, media and entertainment, technology, telecommunications and other industries. For more information about Platinum Equity, visit www.platinumequity.com.