Kingsway Financial reveals $6.75 million purchase of Southside Plumbing
Acquisition Announcement: Kingsway Financial has acquired Southside Plumbing, a prominent plumbing service provider in Omaha, Nebraska, marking the third business under its Kingsway Skilled Trades platform.
Business Profile: Southside Plumbing is recognized for its quality and reliability, serving a customer base that is 70% commercial and 30% residential, with a strong growth rate of approximately +20% per year in its service and repair business.
Financial Details: The acquisition closed on August 14, 2025, with a total maximum purchase price of $6.75 million, which includes cash at close, a seller note, an earn-out based on EBITDA growth, and retained equity interest.
Financing Arrangement: Kingsway Skilled Trades has secured financing from Newburyport Five Cents Savings Bank to support growth, including a commercial term loan and access to credit lines, with potential for future expansion of this relationship.
Trade with 70% Backtested Accuracy
Analyst Views on KFS
About KFS
About the author
Kingsway Financial Shares Decline After Q3 Earnings Report Despite Increase in Revenue
Stock Performance: Kingsway Financial Services Inc. shares dropped 12.9% following their Q3 2025 results, significantly underperforming the S&P 500, which gained 0.8% during the same period.
Revenue Growth: The company reported a 36.9% increase in revenues to $37.2 million, driven by a substantial rise in Kingsway Search Xcelerator revenues, although it still posted a net loss of $2.4 million.
Adjusted EBITDA Trends: Adjusted consolidated EBITDA fell 32.1% to $2.1 million, with mixed performance across segments; KSX saw an increase while Extended Warranty faced declines due to accounting timing issues.
Acquisition Strategy: Kingsway Financial executed four acquisitions in the quarter, emphasizing confidence in organic growth and acquisition-led expansion as key strategic focuses moving forward.
Kingsway Financial seeks approval for offering up to 1,419,001 shares of common stock
Stock Offering Announcement: Kingsway Financial Services (NYSE: KFS) has filed a registration statement for an offering of up to 1,419,001 common stocks.
Preliminary Prospectus Note: The preliminary prospectus associated with the stock offering is not considered an offer to sell the securities.
Recent Acquisitions: Kingsway has recently acquired Southside Plumbing and is signaling plans for accelerated mergers and acquisitions.
Future Acquisition Goals: The company aims to target 3–5 acquisitions per year, leveraging new capital and current momentum.
