1847 Holdings Engages Spartan Capital to Pursue Spinoff or Strategic Transaction for 1847 Cabinets Inc.
26 Febbraio 2024 - 3:07PM
InvestorsHub NewsWire
1847 Holdings
Engages Spartan Capital to Pursue Spinoff or Strategic Transaction
for 1847 Cabinets Inc.
NEW YORK, NY -- InvestorsHub NewsWire -- February 26,
2024 / 1847 Holdings LLC ("1847" or the "Company") (NYSE
American:EFSH),
a unique holding company that combines the attractive attributes of
owning private, lower-middle market businesses with the liquidity
and transparency of a publicly traded company, announced today that
its subsidiary 1847 Cabinets Inc., a designer, manufacturer and
installer of cabinets, doors and millwork for residential
construction, has engaged Spartan Capital Securities, LLC
("Spartan"), a U.S. investment bank, to support a potential
spin-off into a separate publicly traded company on a senior U.S.
exchange, or other potential strategic transaction, in order to
capitalize on 1847 Cabinet's internal growth and favorable outlook
for the business.
1847 Cabinet Inc. is comprised of the businesses of Kyle's, High
Mountain and Innovative Cabinets. Kyle's, which is based in Boise,
Idaho, provides a wide variety of construction services including
custom design and build of kitchen and bathroom cabinetry,
delivery, installation, service and repair, extended warranties,
and financing. High Mountain, which is based in Reno, Nevada,
specializes in all aspects of finished carpentry products and
services, including doors, door frames, base boards, crown molding,
cabinetry, bathroom sinks and cabinets, bookcases, built-in
closets, and fireplace mantles, among others, as well as window
installation. Innovative Cabinets, also based in Reno, Nevada,
specializes in custom cabinetry and countertops.
Mr. Ellery W. Roberts, CEO of 1847, commented, "We have
assembled tremendous businesses and assets within 1847, and believe
the proposed spin-off of our 1847 Cabinets subsidiary would enable
us to unlock significant value for our shareholders. Through a
spin-off, our shareholders would maintain their current equity in
1847, while also receiving a pro-rata share of 1847 Cabinets.
Importantly, 1847 Cabinets has generated consistent revenue growth
with improving profitability. Based on 1847 Cabinets' strong track
record, we believe this would be the ideal time to pursue a
spin-off or other strategic transaction, similar to our prior IPO
and spin-off of 1847 Goedeker's. Spartan Capital brings a strong
track record working with middle-market businesses, and we are
highly confident in the prospects for this transaction given their
solid track record."
There can be no assurance that this process will result in the
Company's subsidiary 1847 Cabinets Inc. completing a spin-off or
other strategic outcome. The Company has not set a timetable for
completion of this process, and it does not intend to disclose
further developments unless and until it determines that further
disclosure is appropriate or necessary.
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 www.1847holdings.com
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
Grafico Azioni 1847 (AMEX:EFSH)
Storico
Da Dic 2024 a Gen 2025
Grafico Azioni 1847 (AMEX:EFSH)
Storico
Da Gen 2024 a Gen 2025
