1847 Holdings Executes $18.75 Million Acquisition of Millwork Manufacturer
Deal News | Nov 07, 2024 | EIN
1847 Holdings LLC, based in New York, has reached a definitive agreement to acquire a millwork, cabinetry, and door manufacturer located in Las Vegas, Nevada. The details were announced following the company's unaudited financial results for the years ending 2023 and the trailing twelve months ending in September 2024, showing robust revenue and net income growth. The acquisition, priced at $18.75 million, is projected to finalize by December 3, 2024. According to Ellery Roberts, CEO of 1847 Holdings, the deal aligns with the company's strategic criteria, leveraging 1847's holding model and management acumen to bolster earnings and cash flow stability. The transaction follows 1847's recent public raise of $11.1 million and the divesting of ICU Eyewear. Advisory on the seller's side was provided exclusively by Tim Canale from Sunbelt Business Advisors.
Sectors
- Manufacturing
- Private Equity
- Mergers & Acquisitions
Geography
- United States – The companies in the transaction are based in New York and Las Vegas, indicating that the main geographical focus of the article is the United States.
Industry
- Manufacturing – The article discusses the acquisition of a door and millwork manufacturing company, indicating the industry focus is on manufacturing.
- Private Equity – 1847 Holdings LLC is a private equity firm making a strategic acquisition, highlighting the relevance of the private equity industry.
- Mergers & Acquisitions – The article centers on a significant acquisition deal, pointing to the M&A industry as a key theme.
Financials
- $18.75 million – Purchase price for the acquisition of the Las Vegas manufacturer.
- $11.1 million – Recent public offering completed by 1847 Holdings.
- $4.2 million – Debt eliminated from the sale of ICU Eyewear by 1847 Holdings.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| 1847 Holdings LLC | Bidding Company | Company | A private equity firm based in New York acquiring a manufacturer. |
| Unnamed Company | Target Company | Company | A manufacturer of millwork, cabinetry, and doors based in Las Vegas. |
| ICU Eyewear | Selling Company | Company | Previously sold by 1847 Holdings to eliminate $4.2 million of debt. |
| Sunbelt Business Advisors | Legal Advisor | Company | Advised the seller in the acquisition transaction. |
| Ellery Roberts | CEO | Person | CEO of 1847 Holdings LLC. |
| Tim Canale | Senior M&A Advisor | Person | Senior Mergers & Acquisitions Advisor with Sunbelt Business Advisors. |