Business
Kingsway Announces Acquisition of Roundhouse Electric & Equipment Co., Inc.
KSX Search Xcelerator's 9th Acquisition Asset-light industrial equipment services business with recurring revenues and strong growth prospects Purchase price of $22.4 million Trailing 12-month unaudited revenue of $16.0 million Trailing 12-month unaudited ...
About this update from Kingsway Corporation
[{"type":"text","content":"KSX Search Xcelerator's 9th Acquisition","length":43,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"Asset-light industrial equipment services business with recurring revenues and strong growth prospects","length":102,"tagName":"p"}]},{"val":[{"type":"text","content":"Purchase price of $22.4 million","length":31,"tagName":"p"}]},{"val":[{"type":"text","content":"Trailing 12-month unaudited revenue of $16.0 million","length":52,"tagName":"p"}]},{"val":[{"type":"text","content":"Trailing 12-month unaudited adjusted EBITDA of $4.2 million","length":59,"tagName":"p"}]}],"tagName":"ul","bulletedList":true,"length":244,"olType":false},{"type":"text","content":"CHICAGO, IL / ACCESS Newswire / July 2, 2025 / Kingsway Financial Services Inc. ("Kingsway" or the "Company"), the only publicly-traded US company employing the Search Fund model to acquire and build great businesses, today announced the acquisition of Roundhouse Electric & Equipment Co., Inc. ("Roundhouse"), a leading provider of industrial-scale electric motor maintenance, repair, testing, and sales solutions based in Odessa, Texas, for a purchase price of $22.4 million, plus transaction expenses and a working capital adjustment.","length":571,"tagName":"p"},{"type":"text","content":"Roundhouse provides mission-critical services, including field maintenance and testing as well as in-shop motor repair, primarily to midstream natural gas pipeline operators and utilities across the Permian Basin. The company's operations are characterized by strong customer retention, excellent response times, and meaningful integration into client workflows.","length":366,"tagName":"p"},{"type":"text","content":"Roundhouse has more than 200 active customers, and approximately 90% of revenues are either recurring or reoccurring. The company's unaudited revenue has more than doubled over the last two years, with unaudited adjusted EBITDA growing ahead of revenue over the same period.","length":278,"tagName":"p"},{"type":"text","content":"Kingsway believes Roundhouse has considerable further growth potential in the years ahead, underpinned by the twin structural growth drivers of increased natural gas pipeline flows in the Permian Basin and the shift from legacy gas-powered motors to more-efficient electrical motors. Kingsway in...