1847 Holdings to acquire commercial cabinet maker

The company announced: “1847 Holdings LLC announced the execution of a non-binding Letter of Intent to acquire a large, established millwork, cabinetry and door manufacturer based in Las Vegas, NV. The Las Vegas-based target generated approximately $28.6 million in revenues, approximately $4.5 million in net income and approximately $5.2 million in adjusted EBITDA in 2023 and currently has almost a year’s worth of contracted backlog booked for 2024. The purchase price for this transaction is $16.75 million and is expected to be completed during the third quarter of 2024, subject to the negotiation and entry into a definitive purchase agreement and the satisfaction or waiver of customary closing conditions. The proposed acquisition carries a purchase price of 3.2x 2023 EBITDA, and the Company expects to finance the entire transaction using debt.”