Littlejohn & Co. said Tuesday that it has acquired Interior Specialists Inc., a Carlsbad, Calif-based provider of interior design and installation services for the homebuilding sector. No financial terms were disclosed.
GREENWICH, CT, October 1, 2014 — Littlejohn & Co., LLC, a private investment firm based in Greenwich, CT, today announced the acquisition of Interior Specialists, Inc. (ISI), the leading provider of interior design and installation services for the homebuilding industry.
Headquartered in Carlsbad, CA, ISI sells flooring, countertops, window coverings, cabinets and other products to homeowners and contracts with installers to install these products. ISI sources, stocks and then installs these selections under contracts with national and superregional homebuilders. The company primarily markets products to homeowners through design centers, which are either ISI-branded or operated on a fully-outsourced basis for homebuilders.
Steven Raich, Managing Director of Littlejohn & Co., said, “ISI is an industry leader and the only large-scale provider of fully-outsourced design centers for homebuilders. With the added support and commitment of Littlejohn, ISI will aggressively leverage this key differentiator and significant value proposition for homebuilders to expand well beyond the company’s existing markets. We also look forward to partnering with the senior management team at ISI to identify strategic acquisitions that will further build the company’s geographic footprint and broaden its product offerings.” Alan K. Davenport, Chief Executive Officer of ISI, said, “We are pleased to partner with the professionals at Littlejohn, who are well respected and understand our market and customers very well. They are the perfect firm to work with us as we strategically align with our new and existing customers to build our business on a national basis.”
ISI recently completed the acquisition of Las Vegas-based DelGrosso Floor Covering, Inc., which serves the residential and commercial building industry, offering and installing flooring, countertop and cabinetry products, in addition to operating a design center to support their residential home builder customers.
About Interior Specialists, Inc.
Interior Specialists, Inc. is distinguished as the country’s largest new construction interior finishing contractor, furnishing a wide array of products and installation services for single-family, multi-family and commercial builders. ISI supplies and installs flooring, cabinetry, countertops, window coverings and builder construction options, including appliances, to the residential and commercial builder trades. The company currently serves markets in Nevada, Arizona, California, Colorado, Idaho, Oregon, Washington, Virginia, and Washington, D.C.
About Littlejohn & Co., LLC
Littlejohn & Co. is a Greenwich, Connecticut-based private equity firm investing in middle-market companies facing the opportunities and challenges that come with significant change. The firm is currently investing from Littlejohn Fund V, L.P., which has $2 billion in capital commitments. For more information, visit www.littlejohnllc.com.