Kingsway收购Southside Plumbing

2025-08-18 20:26

Kingsway Financial Services (NYSE:KFS) said on Monday that it has acquired Southside Plumbing, a provider of commercial and residential plumbing services located in Omaha, Nebraska.
Southside Plumbing is the third business operated under the Kingsway Skilled Trades platform.
Southside Plumbing is one of the top commercial plumbing services companies in the Omaha, Nebraska metropolitan service area.
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.
The transaction closed on August 14, 2025. The purchase price included $4M cash at close, a $0.5M seller note due in 2030, a potential earn-out of up to $1.125M based on growth in adjusted EBITDA that is payable between 2026 and 2028 and contemplates a +75% increase in adjusted EBITDA relative to trailing 12-month EBITDA at close to achieve full pay-out, plus a retained 20% equity interest, for a total maximum purchase price of $6.75M.

More on Kingsway Financial Services