Blackstone to Buy Building Supply Chain Huws Gray From Inflexion

Blackstone Group Inc. has agreed to buy a controlling stake in building supply retailer Huws Gray as it forges ahead with one of its biggest ever years for U.K. takeovers.

It’s acquiring the stake from private equity peer Inflexion and Huws Gray management in a deal valuing the company at about 1 billion pounds ($1.4 billion) including debt, according to a person familiar with the matter, who asked not to be identified discussing confidential information.

A representative for Huws Gray confirmed the sale, declining to comment on financial details. Spokespeople for Blackstone and Inflexion declined to comment.

The deal is ...