Kingsway Financial Services ( (KFS) ) has shared an update.
Kingsway Financial Services Inc. has announced the acquisition of M.L.C. Plumbing LLC, known as Bud’s Plumbing, for $5.0 million. This acquisition is part of Kingsway’s strategy to expand its Kingsway Skilled Trades platform under the Kingsway Search Xcelerator. Bud’s Plumbing, a century-old company based in Evansville, Indiana, is recognized for its reliable plumbing services and has been a trusted provider in the community. The acquisition is expected to be immediately accretive, adding $6.0 million in annual revenue and $0.8 million in annual adjusted EBITDA. This move is anticipated to strengthen Kingsway’s market position in the skilled trades sector, leveraging Bud’s Plumbing’s established reputation and service excellence.
More about Kingsway Financial Services
Kingsway Financial Services Inc. is a holding company that operates primarily in the business services and extended warranty industries. It serves the business services industry through its Kingsway Search Xcelerator segment, which includes subsidiaries like Ravix Group, CSuite Financial, and Image Solutions. The company also operates in the healthcare services and vertical market software sectors. In the extended warranty industry, Kingsway has subsidiaries in auto and HVAC/facility warranties, such as IWS, Penn Warranty, and Trinity Warranty Solutions.
YTD Price Performance: -7.43%
Average Trading Volume: 31,866
Technical Sentiment Consensus Rating: Hold
Current Market Cap: $201M
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