Business
Kingsway Announces Acquisition of Southside Plumbing
Kingsway Search Xcelerator's 12th Acquisition Asset-light plumbing services business with recurring revenues and leading market position Purchase price of $5.625 million, plus a potential earn-out of up to $1.125 million, for a total maximum purchase ...
About this update from Kingsway Corporation
[{"type":"text","content":"Kingsway Search Xcelerator's 12th Acquisition","length":49,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"Asset-light plumbing services business with recurring revenues and leading market position","length":90,"tagName":"p"}]},{"val":[{"type":"text","content":"Purchase price of $5.625 million, plus a potential earn-out of up to $1.125 million, for a total maximum purchase price of $6.75 million","length":136,"tagName":"p"}]},{"val":[{"type":"text","content":"Unaudited pro-forma annual revenue of $4.0 million","length":50,"tagName":"p"}]},{"val":[{"type":"text","content":"Unaudited pro-forma annual adjusted EBITDA of $0.9 million","length":58,"tagName":"p"}]},{"val":[{"type":"text","content":"New credit facility to support growth at Kingsway Skilled Trades","length":64,"tagName":"p"}]}],"tagName":"ul","bulletedList":true,"length":398,"olType":false},{"type":"text","content":"CHICAGO, ILLINOIS / ACCESS Newswire / August 18, 2025 / (NYSE:KFS) 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 Southside Plumbing, a leading provider of commercial and residential plumbing services located in Omaha, Nebraska. Southside Plumbing is the third business operated under the Kingsway Skilled Trades platform.","length":501,"tagName":"p"},{"type":"text","content":"Southside Plumbing is one of the top commercial plumbing services company in the Omaha, Nebraska metropolitan service area. With decades of commitment to its community, Southside Plumbing has built an impressive reputation for both quality and reliability.","length":256,"tagName":"p"},{"type":"text","content":"Southside Plumbing's customer base is split 70% commercial and 30% residential, and approximately 70% of trailing 12-month revenues are either recurring or reoccurring. Southside Plumbing's service and repair business exhibits a strong growth profile of c. +20% per year. Kingsway believes Southside Plumbing has the potential to accelerate growth via expanded marketing efforts and new service lines, and that Southside Plumbing can increase the proportion of sales that are recurring or reoccurring given healthy momentum in service and repair.","length":554,"tagName":"p"},...