NEW YORK, NY / ACCESSWIRE / June 10, 2024 / 1847 Holdings LLC("1847" or the "Company") (NYSE American:EFSH), a holding company specializing in identifying over-looked, deep value investment opportunities in middle market businesses, today provided an update on its ongoing business activities and strategic initiatives.
Ellery W. Roberts, CEO of 1847 Holdings, commented, "We remain on track with several potentially transformative strategic transactions. Specifically, we are nearing completion of a definitive agreement to acquire a prominent millwork, cabinetry, and door manufacturer. This target achieved revenues of $28.6 million and significant cash flow in 2023. Moreover, as previously disclosed, we negotiated a favorable purchase price of $16.75 million, which represents approximately 3.2x the target's 2023 EBITDA. We are also engaged in active discussions with several parties interested in acquiring one of our business lines and we are encouraged by the progress. In parallel, we are actively working on restructuring and accelerating the repayment of our debt. This includes extending the duration of remaining indebtedness and eliminating any equity-linked aspects of repayment. We believe these actions would create a more favorable capital structure for the Company and our shareholders, positioning us for sustained long-term success. We are highly confident that these and other strategic initiatives will drive significant value for our shareholders as we continue to execute our growth strategy. We look forward to providing further updates as these transactions continue to progress," concluded Mr. Roberts.
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 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.
For the latest insights, follow 1847 on Twitter.
Forward-Looking Statements
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.
Contact:
Crescendo Communications, LLC
Tel: +1 (212) 671-1020
Email: EFSH@crescendo-ir.com
SOURCE: 1847 Holdings LLC
View the original press release on accesswire.com
