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Virginia Tile Announces Sunil Palakodati as CEO - DBusiness Magazine

DBusiness Magazine
Sunil Palakodati // Photo courtesy of Virginia Tile Co.
Livonia’s Virginia Tile Co., a ceramic, porcelain, and natural stone distributor for Midwest commercial and residential markets, accounced Sunil Palakodati as its new CEO.
Virginia Tile operates in 15 states with a network of 19 showrooms and 16 distribution centers.
Palakodati brings experience in the products material industry, most recently as CEO of Texas’ Commercial Flooring, a full-service commercial flooring company. He was the president of Architectural Surfaces Group, a subsidiary of Select Interior Concepts, before that. Palakodati has also held leadership roles at Masco Corp. and Visteon Corp.
“Sunil’s leadership experience, integrity, and customer-oriented nature are the ideal fit for the company’s culture and our goals for the business,” says Tom Carver, board director of Virginia Tile and managing partner of Harren Equity Partners. “We look forward to working ....

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Select Interior Concepts to Sell Its RDS Segment to

Transforms balance sheet to debt-free, strong net cash position providing significant financial flexibility
Concentrates efforts on maximizing value in the stone and tile distribution market and expands margin profile
ATLANTA, May 09, 2021 (GLOBE NEWSWIRE) Select Interior Concepts, Inc. (NASDAQ: SIC), a premier installer and distributor of interior building products, today announced that it has entered into a definitive agreement to sell its Residential Design Services segment (“RDS,”) in an all-cash transaction to Interior Logic Group (“ILG”), a portfolio company of Blackstone. The transaction is valued at approximately $215 million, subject to customary purchase price adjustments, and is expected to close mid-2021, subject to customary closing conditions which includes the receipt of required regulatory approvals. SIC intends to use the proceeds from the transaction to repay all its outstanding indebtedness and capital lease obligations. ....

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Select Interior Concepts to Sell Its RDS Segment to Interior Logic Group for $215 Million

Select Interior Concepts to Sell Its RDS Segment to Interior Logic Group for $215 Million
$215 million purchase price provides attractive valuation for RDS and to shareholders
Transforms balance sheet to debt-free, strong net cash position providing significant financial flexibility
Concentrates efforts on maximizing value in the stone and tile distribution market and expands margin profile
ATLANTA, May 09, 2021 (GLOBE NEWSWIRE) Select Interior Concepts, Inc. (NASDAQ: SIC), a premier installer and distributor of interior building products, today announced that it has entered into a definitive agreement to sell its Residential Design Services segment (“RDS,”) in an all-cash transaction to Interior Logic Group (“ILG”), a portfolio company of Blackstone. The transaction is valued at approximately $215 million, subject to customary purchase price adjustments, and is expected to close mid-2021, subject to customary closing conditions which includes the receipt ....

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Why Select Interior Concepts Stock Is Trading Higher Today

Select Interior Concepts (NASDAQ:SIC) shares are trading higher after the company announced it entered into a definitive agreement to sell its Residential Design Services segment to Interior Logic Group for $215 million.
We will continue distinguishing ourselves by our innovative technology and commitment to grow with our customers through trusted partnerships and relationships, said Chief Executive Officer Alan Davenport of Interior Logic Group.
Select Interior Concepts Inc is a diversified product and service company that acts as an installer and distributor of interior building products in residential interior design services.
The stock was trading 16.91% higher at $10.44 per share at the time of writing. The stock has a 52-week high of $10.88 and a 52-week low of $2.03. ....

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Select Interior Concepts: Q1 Earnings Snapshot

Select Interior Concepts: Q1 Earnings Snapshot
May 6, 2021
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ATLANTA (AP) Select Interior Concepts, Inc. (SIC) on Thursday reported a loss of $1.8 million in its first quarter.
On a per-share basis, the Atlanta-based company said it had a loss of 7 cents.
The company posted revenue of $137.8 million in the period.
Select Interior Concepts shares have climbed 14% since the beginning of the year. The stock has nearly tripled in the last 12 months.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SIC at https://www.zacks.com/ap/SIC ....

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