1847 Holdings To Acquire A Commercial Cabinet, Door & Millwork Manufacturer For $$16.75M With Revenues Of $28.6M And $5.2M Of EBITDA In 2023
Portfolio Pulse from Benzinga Newsdesk
1847 Holdings LLC (NYSE:EFSH) announced its intention to acquire a Las Vegas-based commercial cabinet, door, and millwork manufacturer for $16.75M, with the target company reporting $28.6M in revenues and $5.2M in EBITDA for 2023. The acquisition, expected to close in Q3 2024, will be financed entirely through debt. CEO Ellery Roberts highlighted the acquisition's strategic fit, emphasizing separate value creation paths for 1847's existing residential cabinet operations and the new commercial focus of the acquisition.
April 08, 2024 | 12:09 pm
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1847 Holdings LLC plans to acquire a commercial cabinet, door, and millwork manufacturer for $16.75M, aiming to capitalize on the construction sector's growth. The acquisition is expected to be accretive, financed through debt, and strategically separate from existing operations.
The acquisition is expected to have a positive short-term impact on EFSH's stock price due to the strategic nature of the acquisition, the financial health of the target company, and the CEO's confidence in financing the deal without additional equity, indicating strong financial management and potential for value creation.
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