1847 says ‘making continued progress’ on strategic initiatives

1847 Holdings provided a business update on its pending strategic transactions. Ellery Roberts, CEO of 1847, commented, “Following a strong first quarter, in which we achieved solid revenue growth and successfully divested Asien’s Appliance, I am pleased to report we are making continued progress on a series of additional strategic initiatives expected to significantly enhance shareholder value. As an example, we are rapidly advancing towards finalizing our definitive agreement to acquire a prominent millwork, cabinetry, and door manufacturer, which generated very significant EBITDA in 2023. Through the combination of this and other planned activities, we expect to significantly lower our leverage ratio via an increase in net EBITDA relative to outstanding debt. In turn, we plan to accelerate our repayment of debt, extend the duration of remaining indebtedness, as well as eliminate any equity-linked aspects of repayment. As a result, we expect 1847 will be in a stronger financial position, generating meaningful cash flow with an enhanced balance sheet and capital structure. We expect to complete the outstanding transactions in the near term and look forward to providing updates as developments unfold.”