Kingsway Financial Services Inc (KFS) Q3 2025 Earnings Call

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WEBVTT 00:00:00.031 -- 00:00:04.637 Roundhouse, Advanced Plumbing and Drain, and the HR team. 00:00:04.637 -- 00:00:10.662 We are excited to welcome all three to the KSX segment and to the Kingsway family. 00:00:11.005 -- 00:00:16.352 On August 14th, we completed our 12th KSX acquisition with the purchase of Southside 00:00:16.352 -- 00:00:19.857 Plumbing for a purchase price of $5.625 00:00:19.857 -- 00:00:24.884 million plus a potential earn-out of up to $1.125 million for a 00:00:24.884 -- 00:00:29.056 total maximum purchase price of $6.75 million. 00:00:29.056 -- 00:00:34.582 At the time of acquisition, Southside Plumbing's unaudited pro forma annual revenue 00:00:34.582 -- 00:00:40.749 was $4 million, and its unaudited pro forma annual adjusted EBITDA 00:00:40.749 -- 00:00:42.890 was $900,000. 00:00:43.112 -- 00:00:48.298 Based in Omaha, Nebraska, Southside Plumbing is a leading provider of commercial 00:00:48.298 -- 00:00:51.261 and residential plumbing services. 00:00:51.261 -- 00:00:56.613 This transaction, which was sourced and led by Rob Casper, President of Skilled Trades, 00:00:56.613 -- 00:01:02.898 marks the third edition under our Kingsway Skilled Trades platform in 2025. 00:01:03.562 -- 00:01:09.109 We believe that Southside Plumbing has significant potential to accelerate growth 00:01:09.109 -- 00:01:13.674 through expanded marketing efforts and new service lines and to increase the proportion 00:01:13.674 -- 00:01:18.480 of sales that are recurring or reoccurring given the strong momentum in its service and 00:01:18.480 -- 00:01:20.763 repair operations. 00:01:20.763 -- 00:01:25.789 The Southside team has earned an exceptional reputation in its market for quality 00:01:25.789 -- 00:01:30.926 and service driving consistently robust growth in its core...