1847 Holdings Explores Strategic Moves For 1847 Cabinets Inc. With Spartan Capital's Guidance

1847 Holdings LLC EFSH recently 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 (“Spartan”), a U.S. investment bank, to support a potential spin-off into a separate publicly traded company on a senior U.S. exchange, or other potential strategic transaction, in order to capitalize on 1847 Cabinet’s internal growth and favorable outlook for the business.

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, base boards, 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, Nevada, specializes in custom cabinetry and countertops.

Mr. Ellery W. Roberts, CEO of 1847, commented, “We have assembled tremendous businesses and assets within 1847, and believe the proposed 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. 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 or other strategic transaction, similar to our prior IPO and spin-off of 1847 Goedeker’s. 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.”

There can be no assurance that this process will result in the Company’s subsidiary 1847 Cabinets Inc. completing a spin-off or other strategic outcome. The Company has not set a timetable for completion of this process, and it does not intend to disclose further developments unless and until it determines that further disclosure is appropriate or necessary.

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