1847 Holdings reports ‘continued progress’ on pending transactions

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.