Expected to Generate Approximately $2 Million of Additional Annual Revenue
NEW YORK, NY / ACCESSWIRE / November 1, 2023 / 1847 Holdings LLC("1847" or the "Company") (NYSE American:EFSH), a unique holding company that combines the attributes of owning private, lower-middle market businesses with the liquidity and transparency of a publicly traded company, today announced that its subsidiary, 1847 Cabinets Inc., a designer, manufacturer and installer of cabinets, doors and millwork for residential construction, has entered into an expanded agreement with one of the nation's largest homebuilders, as its exclusive provider of windows for all new residential construction projects in the Reno, Nevada, metropolitan area.
Glyn Milburn, Vice President of Operations for 1847, stated, "We began our relationship with this leading national home builder by initially providing door installations, and expanded the scope of work to include window installations, including high-end homes. Our recent selection as their exclusive provider of windows in the rapidly growing Reno residential market is a testament to the quality of our work, customer service and the value proposition we provide our customers. Moreover, we look forward to building on this relationship and expanding into additional geographic markets. We are also leveraging our track record to sign on new home builders and expand our relationships with existing builders. None of this would have been possible without the strategic investments and support of 1847 Holdings."
Mr. Ellery W. Roberts, CEO of 1847, further noted, "1847 Cabinets continues to experience rapid growth, which further validates our recent investments and illustrates the value 1847 Holdings brings to our portfolio companies. We believe this expanded relationship will generate an incremental $2 million of high-margin, annualized revenue. I would especially like to thank our lender, which provided us with non-dilutive capital to fund our expansion, thereby enabling us to maximize value for shareholders. The commitment of our lender also reinforces the strength of our balance sheet, as well as our internal financial controls and procedures."
About 1847 Holdings LLC
1847 Holdings LLC (NYSE American:EFSH), a publicly traded diversified acquisition holding company, was founded by Ellery W. Roberts, a former partner of Parallel Investment Partners, Saunders Karp & Megrue, and former Principal of Lazard Freres Strategic Realty Investors. 1847 Holdings' investment thesis is that capital market inefficiencies have left the founders and/or stakeholders of many small business enterprises or lower-middle market businesses with limited exit options despite the intrinsic value of their business. Given this dynamic, 1847 Holdings can consistently acquire businesses it views as "solid" for reasonable multiples of cash flow and then deploy resources to strengthen the infrastructure and systems of those businesses in order to improve operations. These improvements may lead to a sale or IPO of an operating subsidiary at higher valuations than the purchase price and/or alternatively, an operating subsidiary may be held in perpetuity and contribute to 1847 Holdings' ability to pay regular and special dividends to shareholders. For more information, visit www.1847holdings.com.
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This press release may contain information about 1847 Holdings' view of its future expectations, plans and prospects that constitute forward-looking statements. All forward-looking statements are based on our management's beliefs, assumptions, and expectations of our future economic performance, taking into account the information currently available to it. These statements are not statements of historical fact. Forward-looking statements are subject to a number of factors, risks and uncertainties, some of which are not currently known to us, that may cause our actual results, performance or financial condition to be materially different from the expectations of future results, performance or financial position. Our actual results may differ materially from the results discussed in forward-looking statements. Factors that might cause such a difference include but are not limited to the risks set forth in "Risk Factors" included in our SEC filings.
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SOURCE: 1847 Holdings LLC
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