Third Bench Acquires Davis Kitchens of Albuquerque, Boosting Revenue in 2021 | 2021-10-12 | Press Releases
NEW YORK, NY / ACCESSWIRE / October 12, 2021 / New America Energy Corp. (OTC PINK: NECA), the name to be changed to “Third Bench”, 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 has long been a regional cabinet supplier and a sister location to our Davis Kitchens holding company in Tucson. Davis Kitchens will add approximately $ 5 million in annual residential cabinet revenue to Third Bench operations and further provide an immediate synergistic opportunity to cross-sell our residential countertops in the Albuquerque marketplace.
Third Bench CEO David Fair said, “We are delighted to add another Davis Kitchens to Third Bench! It is a long-standing cabinet supplier to the northern New Mexico market with an excellent reputation. Davis Kitchens will provide us with an immediate opportunity to sell Countertops through their sales channels. The Davis Kitchens acquisition will make Third Bench one of the largest suppliers of residential cabinetry in New Mexico with combined operations of nearly $ 29 million in revenue for 2021.
Davis Kitchens owner Steve King added, “I am pleased to have my company join Third Bench, which has a reputation for knowing the cabinetry industry and providing quality service to its customers.
Since 1994, Davis Kitchens has been one of New Mexico’s leading kitchen cabinet distributors for new construction and renovations. Davis Kitchens offers professional cabinet design and installation for kitchen renovations, bathroom renovations, room additions and new home construction.
Davis Kitchens has a highly trained and professional team that includes cabinet designers, installers, service technicians and field superintendents. Davis Kitchens prides itself on its sales support staff, including ordering, highly skilled administration and operations group, customer support representatives, and warehouse and delivery staff. Every Davis Kitchens employee is encouraged to communicate fully and frequently with customers and with each other to ensure the prompt and accurate completion of each job.
About Third Bench Holdings, SARL
THIRD BENCH Holdings is a holding company of five subsidiaries operating as architectural carpentry and resellers in the areas of cabinet making, kitchen and bathroom. THIRD BENCH, through its subsidiaries, offers products in several categories: residential cabinetry and countertops and commercial joinery throughout the western United States for customers from California to Texas. THIRD BENCH also provides installation services as part of its vertical offering. The Company provides its products and services through its architectural carpentry and retail facilities, currently located in Albuquerque and Las Cruces, New Mexico and Tucson, Arizona. Third Bench employs more than 140 people and had a turnover of over $ 18.8 million in 2020. Third Bench has an execution rate of over $ 24.0 million for 2021 and its flows of cash flow are positive. These projections have been provided by management and do not include additional acquisitions currently under consideration.
Third bank participations
175, main street S. # 1410
Salt Lake City, UT 84111
About New America Energy Corp.
New America Energy Corp. (NECA) is a holding company focused on opportunistic strategic acquisitions, with positive cash flows and sustainable assets.
NOTICE REGARDING THE FORWARD-LOOKING STATEMENT
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This press 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 containing the words “believes”, “expects”, “anticipates” or similar expressions. These 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 these forward-looking statements.
THE SOURCE: New America Energy Corp.
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