Cabinets

Cabinets

After eight decades, Haas Cabinets plans to close

Founded in 1939, Haas Cabinet opened its first plant in 1944, but now, some 80 years later, the company plans to shutter the Sellersburg, Indiana-based company."Yes," commented Todd Haas, president and grandson of the company founder, "after 85 years in business, Haas Cabinet is shutting down its cabinet production."Haas did not comment on the reason for closing the company or the closing date. One unconfirmed source said the company plans to close at the end of June. 

Woodworking Industry News

Cabinotch expands reach with acquisition of KCD Software

Cabinotch, a leading provider of innovative woodworking solutions has acquired KCD Software, an award-winning custom design to CNC manufacturing software. The company said that the strategic move marks a “significant step forward for Cabintoch Innovative Solutions’ commitment to better serving the needs of woodworkers and cabinetmakers worldwide.”

Cabinets

1847 executes Letter of Intent to sell 1847 Cabinets Inc. for $27.6 million

NEW YORK — 1847 Holdings LLC, a holding company, announced the execution of a non-binding Letter of Intent with a prospective strategic buyer to sell all assets of 1847 Cabinets Inc.Under the terms of the LOI, the buyer has proposed an enterprise value of $27.6 million for the acquisition of all assets of 1847 Cabinets Inc. The amount, the company said in a statement, represents a 5.91x multiple of 2023 EBITDA of approximately $4.7 million.