NEW YORK — 1847 Holdings LLC, a holding company, announced 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, a U.S. investment bank, to support a planned $10 million IPO and spin-off transaction for 1847 Cabinets Inc.

Assuming a successful transaction, 1847 Cabinets would become a standalone publicly traded company on a senior U.S. exchange, to capitalize on its internal growth and favorable outlook for the business. The Company has not set a timetable for completion of this process.

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, baseboards, 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, specializes in custom cabinetry and countertops.

Ellery W. Roberts, CEO of 1847, said, "We have assembled tremendous businesses and assets within 1847, and believe the proposed IPO and 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 on a pre-IPO basis. 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 and IPO of 1847 Cabinets, similar to our prior IPO and spin-off of 1847 Goedeker's. We also believe this transaction would provide 1847 Cabinets with additional working capital to further accelerate its growth. 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."