Kingsway Financial Services to Discuss Bud's Plumbing Acquisition in Upcoming Conference Call

Kingsway Expands into Plumbing Services

Chicago-based Kingsway Financial Services Inc. has made a significant move by announcing the acquisition of Bud's Plumbing, a well-established plumbing service provider with over a century of experience. The deal, valued at $5 million plus transaction expenses and a working capital adjustment, aims to enhance Kingsway's portfolio in essential service sectors.

Details of the Acquisition

The acquisition is part of Kingsway's strategy to diversify its holdings through the newly formed Plumbing Holdco LLC, which will operate under the name Kingsway Skilled Trades. The transaction will be funded through cash reserves and a $1.25 million seller note, underlining the company's commitment to maintaining financial stability during this transition.

Conference Call Scheduled for March 25

Management is slated to host a conference call on March 25, 2025, at 5:30 PM ET. This session will provide an overview of the acquisition details and offer investors a platform to engage in a live question-and-answer segment. Interested participants can also submit questions via email for further clarity on the acquisition's implications.

About Bud's Plumbing

Bud's Plumbing, a privately-held company operating for over 100 years, provides both residential and commercial plumbing services. The company’s longstanding reputation is expected to contribute positively to Kingsway's growth as it integrates Bud's Plumbing into its operational framework.

Strategic Growth Plans

This acquisition not only marks Kingsway's entry into the plumbing sector but also aligns with its broader strategy of expanding its presence in essential services. The addition of Bud's Plumbing is anticipated to diversify Kingsway’s income streams and enhance its operational capabilities in the long run.