New America Energy Corp (OTCMKTS:NECA) on August 2, 2021 acquired Third Bench Holdings, industry leader in Kitchen & Bathroom cabinetry, which will provide an estimated $24million in revenues in 2021.
Third Bench, which is focused on long-standing and regionally dominant businesses owning leadership position in regional markets, fuels and implements changes for driving rapid growth as well as sustainable value creation for customers.
Both operating brands as well as management team have decades of experience managing North America-based “housing-infrastructure” brands.
CEO of New America Energy Corp, Jeff Canouse said that the firm is excited on acquisition and aims to deliver promise on cash flows and strong management with incredible value for shareholders. He lauded Bench being a successful company and executing strategy as well as building more and more value for the Company.
David Fair, CEO of Third Bench Holdings, said that the acquisition allows the firm to become public and take advantage of growth in demand for cabinets and countertops in the residential sector. NECA also announced eliminating about one Million in variable Convertible Notes and other Liabilities.
Jeff Canouse, CEO of New America Energy Corp, said the firm would like to be an alluring vehicle for firms like Third Bench and eliminating one million such notes is a major victory for shareholders.
David Fair, CEO of Third Bench Holdings, said that the company expects to attract more advantageous capital for facilitating growth to a different level.
NECA stock soared 15% in the morning session on Monday.
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