ATLANTA, April 27, 2016 (GLOBE NEWSWIRE) -- HD Supply, Inc. (NASDAQ:HDS) today announced it has entered into a definitive agreement to sell its HD Supply Interior Solutions business unit, formerly known as Creative Touch Interiors, to Interior Specialists, Inc. (“ISI”). ISI is a leading provider of interior design, design center management and installation services and is owned by Littlejohn & Co., a leading middle-market private equity investor. The terms of the transaction were not released. The transaction is subject to customary closing conditions and is expected to close during HD Supply’s second quarter of fiscal 2016.
About HD Supply:
HD Supply (NASDAQ:HDS) (www.hdsupply.com) is one of the largest industrial distributors in North America. The company provides a broad range of products and value-add services to approximately 500,000 customers and has leadership positions in maintenance, repair and operations, water infrastructure and specialty construction sectors. Through approximately 550 locations across 48 states and six Canadian provinces, the company's approximately 14,000 associates provide localized, customer-driven services, including jobsite delivery, will call or direct-ship options, diversified logistics and innovative solutions that contribute to its customers' success.
About Interior Specialists, Inc.:
Interior Specialists, Inc. (ISI) is the nation’s leading provider of interior design, design center management and installation services operating from over 90 locations across the United States. ISI’s customers include the nation’s preeminent single-family, multi-family and commercial builders. ISI both supplies and installs flooring, cabinetry, countertops, window coverings and builder construction options, including appliances, and it is the leading full-service provider of outsourced homebuilder-branded design centers.
About Littlejohn & Co., LLC:
Littlejohn & Co. is a Greenwich, Connecticut-based private equity firm investing in middle-market companies that are undergoing a fundamental change in capital structure, strategy, operations or growth that can benefit from its operational and strategic approach. 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.
This press release includes “forward-looking statements” within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act. Forward-looking statements are based on management’s beliefs and assumptions and information currently available to management and are subject to known and unknown risks and uncertainties, many of which may be beyond our control. We caution you that the forward-looking information presented in this press release is not a guarantee of future results and that actual results may differ materially from those made in or suggested by the forward-looking information contained in this press release. In addition, forward-looking statements generally can be identified by the use of forward-looking terminology such as “may,” “plan,” “seek,” “comfortable with,” “will,” “expect,” “intend,” “estimate,” “anticipate,” “believe” or “continue” or the negative thereof or variations thereon or similar terminology. A number of important factors could cause actual events to differ materially from those contained in or implied by the forward-looking statements, including those “Risk factors” in our annual report on Form 10-K for the fiscal year ended January 31, 2016 and those described from time to time in our other filings with the U.S. Securities and Exchange Commission, which can be found at the SEC’s website www.sec.gov. Any forward-looking information presented herein is made only as of the date of this press release, and we do not undertake any obligation to update or revise any forward-looking information to reflect changes in assumptions, the occurrence of unanticipated events or otherwise.
Media Contact: Quiana Pinckney, APR HD Supply Public Relations 770-852-9057 firstname.lastname@example.org