1847 Secures $1.0 Million Credit Facility to Address Accelerated Growth for its High Mountain Door & Trim Subsidiary
Summary
High Mountain experienced unaudited 44.5% year-over-year increase in revenue in 2023 compared to 2022NEW YORK, NY / ACCESSWIRE / February 22, 2024 / 1847 Holdings LLC ("1847" or the "Company") (NYSE American:EFSH), a unique holding company that combines the attributes of owning private, lower-middle market businesses with the liquidity and transparency of a publicly traded company, today announced that it has secured a $1.0 million credit facility for its High Mountain Door & Trim Inc. ("High Mountain") subsidiary.High Mountain 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, working primarily with large homebuilders of single-family homes, commercial and multi-family developers.Mr. Ellery W. Roberts, CEO of 1847, commented, "Over the past few quarters we have achieved solid growth within our construction segment with High Mountain demonstrating a 44.5% year-over-year increase in revenue in 2023 compared to 2022. With strong customer demand, this credit facility provides High Mountain additional working capital to accelerate its growth, optimize its financial flexibility, support further expansion plans, and strengthens their position in the market without any equity dilution at either the 1847 or subsidiary level. "Additional details High Mountains credit facility will be available upon the filing of a Current Report on Form 8-K, which will be filed with the Securities and Exchange Commission and available on the Companys website once filed.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 former Principal of Lazard Freres Strategic Realty Investors. All forward-looking statements are based on our managements beliefs, assumptions, and expectations of our future economic performance, taking into account the information currently available to it.