Blackstone to Buy Interior Logic for $1.6 Billion in Housing Bet

Blackstone Group Inc. is buying Interior Logic Group Inc. for about $1.6 billion including debt, preempting the company’s initial public offering and bolstering a bet on single-family housing.

Private equity funds managed by Blackstone are acquiring the interior-design technology provider from a group including Littlejohn & Co. and Platinum Equity, according to an emailed statement Monday. Last month, Interior Logic applied to list on the Nasdaq under the ticker “ILG.”

Interior Logic also provides supply-chain and installation-management services to homebuilders. The Irvine, California-based company operates in 37 states. Blackstone hopes to expand the company’s geographic reach and enhance ...