Select Interior Concepts, Inc. (“SIC”, or the “Company”), a newly formed Delaware corporation, has been created as a holding company for the consolidation and management of interior products and services focused building products companies. Concurrent with the formation of SIC, Residential Design Services (“RDS”) and Architectural Surfaces Group (“ASG”) have become the first two wholly owned subsidiaries of SIC. Prior to the formation of SIC, RDS and ASG were independent portfolio companies owned by Trive Capital.
In conjunction with its formation, SIC completed a 144a equity offering which has generated substantial liquidity for the company to pursue organic and inorganic growth opportunities.
SIC was formed to lead the market expansion of businesses focused on the design-oriented product selection process, procurement, distribution, and installation of flooring, countertops, cabinets, and other highly desirable and customizable interior products. The senior management teams of RDS and ASG will stay in place, with Tyrone Johnson serving as CEO of Select Interior Concepts while remaining President of RDS.
“The formation of Select Interior Concepts allows us to leverage the unique capabilities of RDS and ASG to further accelerate the impressive growth each business has achieved. I would like to thank Trive Capital for their tremendous support in growing these businesses over the past several years as well as their willingness to partner with management as we pursued this transaction,” stated SIC CEO Tyrone Johnson.
Sunil Palokodati will continue in his role as the President of ASG, and Kendall Hoyd will become Chief Financial Officer of SIC. The Company has also recruited and formed a very high-quality Board of Directors with significant building products and executive management experience in both the private and public markets.
“SIC is positioned with a highly liquid balance sheet, strong senior leadership, and the institutional expertise to take advantage of the market opportunities in front of the current subsidiaries and to pursue further M&A to accelerate growth. We are very excited about the future of the Company,” commented Chris Zugaro, Chairman of SIC’s Board of Directors.
Residential Design Services
Headquartered in Anaheim, California, Residential Design Services has been partnering with builders since 1988, offering their homebuyers a brilliant interior design experience, while delivering outstanding quality, products, installations and service. RDS offers builders’ homebuyers a wide selection of finishing products including flooring, cabinetry, walls and counters, shower enclosures, finish carpentry, hardware and featured options. To learn more about RDS, visit www.resdesign.com.
Architectural Surfaces Group
Headquartered in Austin TX, Architectural Surfaces Group specializes in the design, sourcing, and distribution of natural and engineered stone and other related products. ASG’s national footprint, proprietary brands, broad product selection, and consultative sales approach clearly establishes ASG as the best in class product and service provider in the industry. To learn more about ASG, visit www.archsurfacesgroup.com
Trive Capital is a Dallas, Texas-based private equity firm managing over $2 billion in capital. Trive focuses on investing equity and debt capital in what it sees as strategically viable middle-market companies with the potential for transformational upside through operational improvement. We seek to maximize returns through a hands-on partnership that calls for identifying and implementing value creation ideas.
The Trive team is comprised of seasoned investment professionals who have been involved in over 60 middle-market transactions representing in excess of $5 billion in revenue across Trive’s targeted industry sectors and situations.