Kingsway to Host Conference Call Tuesday to Discuss Bud's Plumbing Acquisition
Rhea-AI Summary
Kingsway Financial Services (NYSE:KFS) has announced a conference call scheduled for Tuesday, March 25, 2025, at 5:30 p.m. ET to discuss their recent acquisition of Bud's Plumbing. The company acquired the century-old plumbing service provider through their newly formed subsidiary, Plumbing Holdco ("Kingsway Skilled Trades").
The acquisition was completed for $5.0 million, plus transaction expenses and a working capital adjustment. The deal was financed through a combination of cash on hand and a $1.25 million seller note. Bud's Plumbing, operating as M.L.C. Plumbing , has been serving residential and commercial customers for over 100 years.
The conference call will include a live Q&A session, with investors having the option to submit questions via email to James@HaydenIR.com. The call will be accessible through both toll-free and international dial-in numbers, with replay options available.
Positive
- Strategic expansion into skilled trades sector through new subsidiary
- Acquisition of established 100+ year old business with existing customer base
- Relatively small seller note ($1.25M) compared to total purchase price ($5.0M)
- Company has sufficient cash on hand to fund majority of acquisition
Negative
- Additional debt taken on through $1.25M seller note
- Cash reserves reduced due to acquisition payment
- Transaction expenses and working capital adjustment will increase total acquisition cost above $5.0M
News Market Reaction – KFS
On the day this news was published, KFS declined 1.59%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
Management to Host Conference Call Tuesday, March 25, 2025, at 5:30 p.m. ET
CHICAGO, IL / ACCESS Newswire / March 20, 2025 / (NYSE:KFS) Kingsway Financial Services Inc. ("Kingsway" or the "Company") previously announced the formation of Plumbing Holdco LLC ("Kingsway Skilled Trades") and the acquisition of the privately-held M.L.C. Plumbing LLC d/b/a Bud's Plumbing ("Bud's Plumbing"), a 100+ year old service and repair plumbing company serving residential and commercial customers for
Management will host a conference call at 5:30 p.m. Eastern Time to discuss the transaction and host a live Q&A session. Additionally, investors may also submit questions via email to: James@HaydenIR.com.
Conference Call Information
Date: Tuesday, March 25, 2025
Time: 5:30 p.m. Eastern Time
Toll Free: 888-506-0062
International: 973-528-0011
Participant Access Code: 694854
Live Webcast Link: https://www.webcaster4.com/Webcast/Page/2928/52209
Conference Call Replay Information
Toll Free: 877-481-4010
International: 919-882-2331
Replay Passcode: 52209
Replay Webcast Link: https://www.webcaster4.com/Webcast/Page/2928/52209
About the Company
Kingsway is a holding company that owns or controls subsidiaries primarily in the business services and extended warranty industries. The common shares of Kingsway are listed on the New York Stock Exchange under the trading symbol "KFS."
The company serves the business services industry through its operating subsidiaries within its Kingsway Search Xcelerator ("KSX") segment:
B2B Services
Ravix Group (ravixgroup.com), CSuite Financial (Csuitefinancialpartners.com)
Image Solutions (istechology.com)
Healthcare Services
Digital Diagnostic Imaging (ddimagingusa.com)
Secure Nursing Services (securenursing.com)
Vertical Market Software
Systems Products International (spisoftware.com)
Kingsway Skilled Trades
Bud's Plumbing (budsplumbing.com)
The company serves the extended warranty industry through its operating subsidiaries within its Extended Warranty segment:
Auto Warranty
IWS (iwsgroup.com)
Penn Warranty (pennwarranty.com)
Preferred Warranties (preferredwarranties.com)
HVAC/Facility Warranty
Trinity Warranty Solutions (trinitywarranty.com)
Additional Information
Additional information about Kingsway, including a copy of its Annual Reports can be accessed on the EDGAR section of the U.S. Securities and Exchange Commission's website at www.sec.gov, on the Canadian Securities Administrators' website at www.sedar.com, or through the Company's website at www.kingsway-financial.com.
For Investor Inquiries: | For Company Inquiries: |
SOURCE: Kingsway Financial Services, Inc.
View the original press release on ACCESS Newswire
FAQ
How much did Kingsway Financial Services (KFS) pay for Bud's Plumbing acquisition?
How is KFS financing the Bud's Plumbing acquisition?
When is Kingsway's conference call to discuss the Bud's Plumbing acquisition?
What is the history of Bud's Plumbing acquired by KFS?
