GlobeNewswire Inc | Jan 18, 2022 08:00AM EST

January 18, 2022

NEW YORK, Jan. 18, 2022 (GLOBE NEWSWIRE) -- 1847 Holdings LLC (OTCQB: EFSH) (1847 Holdings), a publicly traded holding company platform that combines the attractive attributes of private, lower-middle market businesses with the liquidity and transparency of a publicly traded company, today announced the appointment of Eric VanDam as its Chief Operating Officer.

Mr. VanDam brings 30 years of experience leading operations from a diverse range of positions and is a lean manufacturing executive leader with a proven track record of both exceeding metrics and creating loyal followership within organizations. Mr. VanDam has worked for over 20 years at companies holding a direct coaching relationship with Toyota implementing the Toyota Production System (TPS) within the furniture, automotive, and agriculture industries.

Mr. VanDam joined Herman Miller in 2000, shortly after the companys organizational commitment to the lean manufacturing process with Toyota. Building from his TPS experience in the automotive industry, he was developed through the companys Executive Leadership programs to lead operations across multiple sites during his 16 years with the company, including leading a $115 million development project. VanDams ability to utilize lean processes throughout the entire value stream, in every aspect of the business, demonstrated his ability to coach and lead an organization through lean culture transformation.

We are thrilled to welcome Eric to the 1847 Holdings team, commented Ellery W. Roberts, CEO of 1847 Holdings. Eric has already worked with us on multiple projects where he has provided tremendous value. In his role as COO, he will work alongside our portfolio leadership teams to implement strong governance and help manage the success of our subsidiaries.

I am excited to play an important role in the next stage of 1847 Holdings growth, added VanDam. Ellery and his team have built an impressive track record of success. I look forward to bringing my expertise to the team and working together to build on 1847 Holdings strong foundation as we work to capitalize on the wealth of opportunities to create new shareholder value.

About 1847 Holdings LLC

1847 Holdings LLC (OTCQB: 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 Principal of Lazard Freres Strategic Realty Investors. 1847 Holdings' investment thesis is that capital market inefficiencies have left the founders and/or stakeholders of many small business enterprises or lower-middle market businesses with limited exit options despite the intrinsic value of their business. Given this dynamic, 1847 Holdings can consistently acquire businesses it views as "solid" for reasonable multiples of cash flow and then deploy resources to strengthen the infrastructure and systems of those businesses in order to improve operations. These improvements may lead to a sale or IPO of an operating subsidiary at higher valuations than the purchase price and/or alternatively, an operating subsidiary may be held in perpetuity and contribute to 1847 Holdings' ability to pay regular and special dividends to shareholders.

Forward-Looking Statements

This press release may contain information about 1847 Holdings view of its future expectations, plans and prospects that constitute forward-looking statements. 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. These statements are not statements of historical fact. Forward-looking statements are subject to a number of factors, risks and uncertainties, some of which are not currently known to us, that may cause our actual results, performance or financial condition to be materially different from the expectations of future results, performance or financial position. Our actual results may differ materially from the results discussed in forward-looking statements. Factors that might cause such a difference include but are not limited to the risks set forth in Risk Factors included in our SEC filings.

Contact:

Ellery W. Roberts, Founder & CEO1847 Holdings LLCOffice: 212.417.9800info@1847holdings.com

Dave Gentry, CEORedChip CompaniesOffice: 1.800.RED.CHIP (733.2447)Cell: 407.491.4498EFSH@redchip.com