#Chicago-Based Kingsway Corporation Acquires Romeo Computer Company
In a strategic move to bolster its managed IT and cybersecurity services, Kingsway Corporation, trading under the ticker NYSE:KWY, has announced the acquisition of Romeo Computer Company, Inc. (RCC). The transaction, valued at $2.4 million, was executed through Kingsway's wholly-owned subsidiary, Image Solutions, LLC. The acquisition expands Image Solutions’ operations into Michigan and the upper Midwest territory.
The acquisition was finalized on August 1, 2026, and is expected to enhance Image Solutions' service offerings significantly. RCC, headquartered in Michigan, specializes in providing managed IT and cybersecurity solutions tailored for small and mid-sized businesses. Their services include IT support, compliance consultation, cloud solutions, and disaster recovery, all designed to help clients maintain secure and efficient technology environments.
This acquisition not only extends Image Solutions' geographic reach but also aligns with its ongoing strategy to invest in profitable service-based businesses that generate strong recurring revenues. RCC reported an unaudited pro forma annual revenue of around $2.5 million and an adjusted EBITDA of approximately $0.5 million for the fiscal year ending April 30, 2026.
JT Fitzgerald, President and CEO of Kingsway, emphasized that the acquisition supports the company's effort to pursue growth through acquisitions funded through operating cash flow. Image Solutions’ CEO, Davide Zanchi, highlighted RCC’s commitment to customer satisfaction as a key factor in the decision to acquire, stating that leveraging the operating platform will facilitate further expansions in managed IT services.
Steve Eaton, Owner of RCC, expressed optimism about the partnership with Kingsway, noting that it provides resources and opportunities while allowing RCC to maintain its client-focused culture.
Kingsway Corporation, trading under the ticker symbol NYSE:KWY, has announced the acquisition of Romeo Computer Company, Inc. (RCC). RCC is based in Michigan and provides managed IT and cybersecurity solutions.
The acquisition was completed for a purchase price of $2.4 million. RCC reported unaudited pro forma annual revenue of approximately $2.5 million and unaudited pro forma adjusted EBITDA of around $0.5 million for the year ending April 30, 2026.
The acquisition allows Image Solutions to expand its geographic footprint into Michigan and the upper Midwest, and enhances its managed IT and cybersecurity capabilities. This could potentially increase its market presence in small and mid-sized businesses.
Acquisitions can entail risks such as integration challenges, potential disruptions to existing operations, and the uncertainty of achieving projected revenue growth. Additionally, RCC operates in a competitive market which poses ongoing operational risks.
The transaction was funded entirely by Image Solutions using cash on hand and debt financing, with no additional capital required from Kingsway Corporation.
The acquisition of Romeo Computer Company, Inc. was completed on August 1, 2026.
Kingsway Corporation employs the Search Fund model to acquire and build service-oriented businesses, aiming to create long-term shareholder value through a decentralized management structure.
Further details about the acquisition and its impact will be provided during Kingsway's second quarter 2026 earnings call.