NEW YORK CITY (dpa-AFX) - 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.
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