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SELECT INTERIOR CONCEPTS, INC.

(SIC)
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Select Interiors to Sell Residential Design Segment for $215 Million

05/10/2021 | 04:28am EDT

By Colin Kellaher

Select Interior Concepts Inc. said it agreed to sell its residential design services segment to Blackstone Group Inc. portfolio company Interior Logic Group for $215 million in cash.

The Atlanta distributor of interior building products said it will use proceeds from the sale to repay all of its debt and capital lease obligations, adding that it will now focus its efforts on the stone and tile distribution market.

Select Interior, which posted 2020 revenue of $554 million, said the residential design services segment had revenue of $332.5 million last year.

The company said the sale, which it expects to complete in mid-2021, will meaningfully improve its total margin profile while significantly reducing its capital spending needs.

Select Interiors said it expects full-year adjusted Ebitda of $31 million to $33 million, excluding the residential design services segment.

Write to Colin Kellaher at colin.kellaher@wsj.com

(END) Dow Jones Newswires

05-10-21 0628ET

Stocks mentioned in the article
ChangeLast1st jan.
DJ INDUSTRIAL 0.20% 33945.58 Delayed Quote.10.69%
SELECT INTERIOR CONCEPTS, INC. -4.08% 9.63 Delayed Quote.34.69%
THE BLACKSTONE GROUP INC. 0.10% 98.41 Delayed Quote.51.84%
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Financials (USD)
Sales 2021 603 M - -
Net income 2021 9,90 M - -
Net Debt 2021 - - -
P/E ratio 2021 24,7x
Yield 2021 -
Capitalization 246 M 246 M -
Capi. / Sales 2021 0,41x
Capi. / Sales 2022 0,38x
Nbr of Employees 1 300
Free-Float 80,3%
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Technical analysis trends SELECT INTERIOR CONCEPTS, INC.
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Income Statement Evolution
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Mean consensus BUY
Number of Analysts 2
Last Close Price 9,63 $
Average target price 14,00 $
Spread / Average Target 45,4%
EPS Revisions
Managers and Directors
NameTitle
L. William Varner Chief Executive Officer & Director
Nadeem Moiz Chief Operating & Financial Officer
Brett G. Wyard Chairman
Satish Kalala Chief Technology Officer
Donald F. McAleenan Independent Director
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