NEW YORK — 1847 Holdings LLC has executed a definitive agreement to acquire the previously announced millwork, cabinetry, and door manufacturer based in Las Vegas, Nevada.

The unnamed company reported unaudited revenue of $29.4 million and approximately $5.7 million in net income for the year ended Dec. 31, 2023. The company also reported unaudited revenue of $33.1 million and net income of $10.4 million for the trailing twelve months ended Sept. 30, 2024. The purchase price for this transaction is approximately $18.75 million, and the acquisition is expected to close on or before December 3, 2024.

Ellery Roberts, CEO of 1847 Holdings, said: "This acquisition marks a major turning point for 1847. It aligns perfectly with our criteria for a target company, with strong historical revenue growth and profitability, whereby we believe we can leverage our holding company model and management expertise to further accelerate its growth. With the recent completion of our $11.1 million public offering, as well as the elimination of $4.2 million of debt from the sale of ICU Eyewear, we have significantly enhanced our balance sheet. Moving forward, we anticipate this acquisition will greatly enhance our profitability and contribute significant cash flow, eliminating the need to raise capital for the foreseeable future and creating a foundation to drive long-term value for shareholders."

Senior Mergers & Acquisitions Advisor Tim Canale with Sunbelt Business Advisors was the exclusive advisor to the Seller for this transaction.

In October,  1847 Holdings announced the successful sale of High Mountain Door & Trim Inc., a division of 1847 Cabinets, to Builders FirstSource, Inc.