NEW YORK, NY / ACCESSWIRE / October 12, 2021 / New America Energy Corp. (OTC PINK:NECA), name to be changed to 'Third Bench', has acquired Davis Kitchens adding approximately $5,000,000 in annual revenue
Third Bench is pleased to announce its acquisition of Davis Kitchens in Albuquerque, New Mexico. Davis Kitchens is long time regional provider of cabinetry and a sister location to our portfolio company Davis Kitchens in Tucson. Davis Kitchens will add approximately $5M of annual residential cabinetry related revenue to the Third Bench operations and additionally provide an immediate synergistic opportunity to cross-sell our residential countertops into the Albuquerque market.
Third Bench, CEO David Fair states, 'We are excited to add another Davis Kitchens to Third Bench! They are a long-time supplier of cabinetry in the Northern New Mexico market with a great reputation. Davis Kitchens will provide us with an immediate opportunity to sell countertops through their sales channels. Acquiring Davis Kitchens will make Third Bench one of the largest suppliers of residential cabinetry in New Mexico with a combined operations of close to $29M in revenue for 2021.'
Owner of Davis Kitchens, Steve King, went on to say 'I am happy to see my company go to Third Bench, which has a reputation of knowing the cabinet business and providing quality service for their customers.'
Since 1994, Davis Kitchens has been a leading kitchen cabinet distributor in New Mexico for both new construction and remodels. Davis Kitchens provides professional cabinet design and installation for kitchen remodels, bathroom remodels, room additions and new home construction.
Davis Kitchens has a highly qualified and professional team that includes cabinet designers, installers, service technicians and field superintendents. Davis Kitchens takes pride in their sales support staff including their highly competent order department, administration and operations group, customer support representatives, and warehouse and delivery personnel. Every Davis Kitchens employee is encouraged to communicate fully and frequently with customers and with each other to assure timely and accurate completion of every job.
About Third Bench Holdings, LLC
THIRD BENCH Holdings is a holding company for five subsidiary companies operating as an architectural millwork and dealers in the cabinetry, kitchen and bath areas. THIRD BENCH, through its subsidiary companies, offers products in several categories: Residential Cabinets and countertops and commercial millwork throughout the Western U.S. for customers from California to Texas. THIRD BENCH also provides installation services as a part of its vertical offering. The company provides its products and services through its architectural millwork and retail facilities, currently located in Albuquerque and Las Cruces, New Mexico and Tucson, Arizona. Third Bench employs over 140 people and had revenue in excess of $18.8 million in 2020. Third Bench is on a run rate of over $24.0 million for 2021 and is cash flow positive. These projections have been provided by management and do not include the additional acquisitions that are currently under review.
Third Bench Holdings
175 S. Main Street #1410
Salt Lake City, UT 84111
About New America Energy Corp.
New America Energy Corp. (NECA) is a holding company focused on strategic acquisitions that are opportunistic, cash-flow positive with hard assets.
NOTICE REGARDING FORWARD LOOKING STATEMENT
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This news release contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements that include the words 'believes,' 'expects,' 'anticipate' or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance, or achievements of the company to differ materially from those expressed or implied by such forward-looking statements.
SOURCE: New America Energy Corp.
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