NEW YORK, NY / ACCESSWIRE / May 28, 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 a business update on its pending strategic transactions.
Ellery W. Roberts, CEO of 1847 Holdings, commented, "Following a strong first quarter, in which we achieved solid revenue growth and successfully divested Asien's Appliance, I am pleased to report we are making continued progress on a series of additional strategic initiatives expected to significantly enhance shareholder value. As an example, we are rapidly advancing towards finalizing our definitive agreement to acquire a prominent millwork, cabinetry, and door manufacturer, which generated very significant EBITDA in 2023. Through the combination of this and other planned activities, we expect to significantly lower our leverage ratio via an increase in net EBITDA relative to outstanding debt. In turn, we plan to accelerate our repayment of debt, extend the duration of remaining indebtedness, as well as eliminate any equity-linked aspects of repayment. As a result, we expect 1847 will be in a stronger financial position, generating meaningful cash flow with an enhanced balance sheet and capital structure. We expect to complete the outstanding transactions in the near term and look forward to providing updates as developments unfold."
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.
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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
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