Even a pandemic couldn't slow this entrepreneur
NEW YORK, NY / ACCESSWIRE / July 27, 2021 / New America Energy Corp. (OTC PINK CURRENT:NECA). Third Bench CEO, David Fair, chosen as one of the 40 Under 40 industry leaders in the North American woodworking industry. Woodworking Network's sixth annual Leadership Reception was held in Las Vegas on July 19th.
In 2019 David Fair took his skills as a career investment banker and strategy professional and applied them to a sector he's always been interested in: woodworking, cabinetry and design. The result is Third Bench, a holding firm focused on the cabinetry and millwork industries, which Fair co-founded.
As CEO of the Utah-based firm, 'David is an expert in mergers and acquisitions, capital raising, and valuations. He leads Third Bench's financial management; analyzing suitable synergistic targets, managing the mergers and acquisition process, and identifying growth opportunities and operational strategies,' says a nominator.
Even a pandemic couldn't slow this entrepreneur. Fair implemented strategic initiatives for operational efficiencies, introduced new commercial product lines, and announced plans to be a coast-to-coast provider of cabinetry and woodworking products before the end of 2021 through additional acquisitions.
'The entrepreneurial endeavor has had several positive impacts on the woodworking industry and will continue to have positive future impacts as we grow our company,' Fair adds. Revenues at Third Bench have almost doubled since 2019 and 'we project a climb to grow another 50% by 2021.' They have also helped the turnaround of two companies from break-even to double-digit cash flow margins after implementing extensive operational changes, added employees, and 'we are in the process of implementing strategic initiatives to centralize functions of our operations, creating synergistic optimizations that will make our operations highly competitive with other cabinetry operations.'
'I am passionate to be part of the cabinet industry,' the 36-year-old Fair adds. 'I am passionate to continue to learn and strive for a successful enterprise, where my employees are excited to be part of the team and our customers are thrilled to work with Third Bench.'
About Third Bench Holdings, LLC
THIRD BENCH Holdings is a holding company for three subsidiary companies operating as an architectural millwork and dealers in the cabinetry, kitchen and bath areas. THIRD BENCH, through its subsidiary companies offer products in 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.
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SOURCE: New America Energy Corp.
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