Looks to Gain $24 Million in 2021 Gross Revenue
NEW YORK, NY / ACCESSWIRE / July 21, 2021 / New America Energy Corp. (OTC PINK:NECA) officially acquires Third Bench Holdings, an industry leader in Kitchen & Bathroom cabinetry and countertops. The closing with Third Bench is expected to bring an estimated $24million in revenue to NECA in 2021.
Third Bench has a particular emphasis on well run, long-standing, regionally dominant businesses owning a multi-year, established, defensive leadership position in a regional market. Alongside management, Third Bench fuels and implements transformative changes to drive rapid growth and sustainable value creation for customers.
The management team and operating brands represent decades of experience with an operationally oriented partnership that manages North America-based architectural millwork, cabinets, countertops, and, generally, permanent "housing-infrastructure" brands.
"I'm so excited to complete this acquisition and deliver on my promise to seek cash flow companies with strong management. Third Bench and their team are exactly what NECA was seeking. The immediate value this adds for our shareholders is incredible. The team at Third Bench has done an amazing job building such a successful company, and I look forward to them executing their acquisition strategy and building more and more value for the Company," said Jeff Canouse, CEO of New America Energy Corp.
David Fair, CEO of Third Bench Holdings, states “We are very excited about taking this next step of becoming a public company. Third Bench is well-positioned to take advantage of the growth in commercial millwork and the historical demand for cabinets and countertops in the residential sector. We look forward to tapping into the public markets to fuel our expansion and long-term strategy.”