1847 Holdings is expanding its presence in the millwork, cabinetry and door manufacturer markets by signing a letter of intent to acquire a leading player in that space. 1847 Holdings is paying $16.75 million for the unnamed company operating out of Las Vegas. The target generated about $28.6 million in revenue, about $4.5 million in net income and roughly $5.2 million in adjusted EBITDA in 2023. That makes the company an ideal acquisition target for 1847. It typically targets businesses with EBITDA of $5 million or more that are being ignored by the marketplace. 1847 buys them at lower valuations and invests in the business to either spin it out or grow it as an 1847 portfolio company. The acquisition target entered 2024 with a year’s worth of contracted backlog booked, positioning it for growth in the current year. 1847 expects to close the deal in the third quarter of this year and is paying 3.2 times 2023 EBITDA in a leveraged buyout, and the PE firm plans to finance the deal with debt