Kingsway Financial Services Announces The Formation Of Plumbing Holdco And The Acquisition Of The Privately-Held M.L.C. Plumbing d/b/a Bud's Plumbing For $5M, Plus Transaction Expenses And A Working Capital Adjustment, In A Transaction Funded With...

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Kingsway Financial Services Inc.

KFS

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Management to Host Conference Call Tuesday, March 25, 2025, at 5:30 p.m. ET

Expected to be immediately accretive

Adds $6.0 million of annual unaudited revenue and $0.8 million of annual unaudited adjusted EBITDA

#1 Service and Repair plumbing company in its market

Latest acquisition under the Kingsway Search Xcelerator platform

CHICAGO, ILLINOIS / ACCESS Newswire / March 17, 2025 / (NYSE:KFS) Kingsway Financial Services Inc. ("Kingsway" or the "Company") today announced the formation of Plumbing Holdco LLC ("Kingsway Skilled Trades") and the acquisition of the privately-held M.L.C. Plumbing LLC d/b/a Bud's Plumbing ("Bud's Plumbing"), a 100+ year old service and repair plumbing company serving residential and commercial customers for $5.0 million, plus transaction expenses and a working capital adjustment, in a transaction funded with cash on hand and a $1.25 million seller note. Operator-in-Residence ("OIR") Rob Casper will be transitioning into the day-to-day operating role as CEO of Kingsway Skilled Trades following the transaction, while Mark Corn will stay on as President of Bud's Plumbing for a one-year transition period.

Management will host a conference call Tuesday, March 25, 2025, at 5:30 p.m. ET to discuss the transaction.

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