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Builders FirstSource has acquired High Mountain Door & Trim, Reno, Nv., from 1847 Cabinet Inc.
The deal closed on Oct. 1.
Founded in 2014, High Mountain is a leading distributor and installer of doors, windows and millwork to single-family and multi-family markets in the Reno area. It specializes in all aspects of finished carpentry products and services.
1847 had purchased High Mountain in 2021 and reports that it has sold the business for more than twice its original purchase price. The holding company expects to utilize a portion of the proceeds from the sale to continue its strategic mission of buying, operating and selling undervalued business.
Ellery W. Roberts, CEO of 1847 Holdings, said, “This sale marks a strategic milestone for 1847, showcasing our ability to acquire, operate, and enhance the value of assets before selling them. The proceeds from this sale will be used to strengthen our financial position, pursue new growth initiatives, and potentially acquire other companies that offer accretive value and positive cash flow. This infusion of capital not only boosts our liquidity but also positions us to take advantage of new opportunities for value creation and expansion, ultimately benefiting our shareholders in the long run.”
“This transaction is part of our broader strategy to optimize asset allocation and enhance overall shareholder returns. It also highlights the significant gap between the market valuation of 1847 and the intrinsic value of our portfolio companies. We believe this further underscores the compelling investment opportunity presented by 1847,” concluded Roberts.
Formed in 1998, Builders FirstSource operates more than 570 distribution and manufacturing locations across 43 states.
