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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
- Kingsway Financial Services Inc. (KFS) Q2 2025 Earnings Call Transcript
- Kingsway signals accelerated M&A with new capital, targets 3–5 acquisitions per year amid KSX momentum
- Kingsway Financial Services reports Q2 results
- Financial information for Kingsway Financial Services
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