Achieving solid growth among multi-family developers and within rental markets despite challenging housing market
NEW YORK, NY / ACCESSWIRE / November 30, 2022 / 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, today provided commentary on its continued momentum, including the construction segment and the cabinetry market.
Ellery W. Roberts, CEO and Chairman of the Board of the Company, commented, "We continue to achieve solid growth, as we leverage our platform to expand within key markets. Rising interest rates have created challenges in the residential housing market, but the demand for our products continues to increase. While new home purchases have declined, the demand for rental spaces and multi-family construction has increased. We believe our success illustrates the flexibility and diversification of our business model. We are also benefiting from synergies across our platform. One recent example was our ability to leverage Innovative Cabinets & Design's local presence in Reno, Nevada, which provided space and resources for our sister portfolio company, Kyle Custom Woodshop, to expand its operations in this market. Overall, we believe our private equity approach, including the resources and expertise we can bring to our portfolio companies, has positioned us for long-term success in terms of revenue, profitability and cash flow."
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.
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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.
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SOURCE: 1847 Holdings LLC