The company lined up to buy CMD walked away before the deal closed. 1847 Holdings went back to market and, according to a press release filed with the SEC on August 14, now has four separate non-binding offers — expressions of interest, not committed purchases — each contemplating a price of about $65 million.
1847 Holdings bought CMD in December 2024 for about $18.8 million. Bids at the offered price would represent roughly 3.5 times what it paid in less than two years — a ratio the company itself cited in the release. CMD is a construction business the board approved for sale in early 2026.
While the CMD process plays out, the rest of the business — Kyle's, Wolo and ICD — kept improving. Operating loss from those continuing operations fell by about 57% year-over-year in the second quarter, as the company earned more gross profit on a smaller revenue base. Gross margin widened to about 45%, and total operating expenses fell by about 29%.
The headline loss number takes explanation. Net loss from continuing operations came to about $5.9 million for the quarter, while a year earlier the same line showed net income of about $21 million. Both figures are dominated by changes in the accounting value of the company's warrant liabilities — a non-cash item that produced a large paper gain a year ago and a loss this time around. The operating improvement is the cleaner read of how the business is actually running.
Operating cash flow from continuing operations for the first half of 2026 was about $712,000. Chief Executive Ellery W. Roberts said in the release that proceeds from a CMD sale would go first toward repaying outstanding debt, with whatever remains evaluated for reinvestment in the continuing businesses.
The four current offers are non-binding. The previous buyer had already been announced before falling away without completing the deal.