1847 Reports Continued Momentum Within the Construction Segment and Cabinetry Market; Leveraging Platform to Expand Presence in Target Markets

Rhea-AI Summary

1847 Holdings (NYSE American:EFSH) has reported continued growth amid challenging housing market conditions. Despite rising interest rates affecting new home purchases, demand for rental spaces and multi-family construction has surged. CEO Ellery W. Roberts highlighted the company's flexibility and diversified model, noting successful synergies among portfolio companies, especially in the cabinetry market. With a robust approach to acquiring businesses, 1847 Holdings aims to enhance profitability and cash flow, positioning itself for long-term success.

Positive

• Increased demand for rental spaces and multi-family construction.
• Successful synergies among portfolio companies, enhancing operations.
• Private equity approach targeting businesses with strong cash flow potential.

Negative

• None.

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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Forward-Looking Statements

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.

Contact:

Crescendo Communications, LLC
Tel: +1 (212) 671-1020
Email: EFSH@crescendo-ir.com

SOURCE: 1847 Holdings LLC

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https://www.accesswire.com/729538/1847-Reports-Continued-Momentum-Within-the-Construction-Segment-and-Cabinetry-Market-Leveraging-Platform-to-Expand-Presence-in-Target-Markets

FAQ

What recent development did 1847 Holdings (EFSH) announce?

1847 Holdings reported continued growth in the construction segment and cabinetry market despite a challenging housing market.

How is 1847 Holdings (EFSH) adapting to rising interest rates?

The company is focusing on the increasing demand for rental spaces and multi-family construction as new home purchases decline.

What strategy is 1847 Holdings (EFSH) using to ensure long-term success?

1847 Holdings is leveraging its private equity approach to acquire lower-middle market businesses and improve their operations for enhanced profitability.

Who is the CEO of 1847 Holdings (EFSH) and what did he say about the company's growth?

CEO Ellery W. Roberts stated that the company continues to achieve solid growth by expanding in key markets and leveraging synergies across its platform.