Kingsway Announces $19.5M Acquisition Of Image Solutions LLC, In An All-Cash Transaction Funded With Cash On Hand And $7.75M In Debt Financing

Kingsway Financial Services Inc +0.48%

Kingsway Financial Services Inc

KFS

10.49

+0.48%

Management to Host Conference Call Wednesday, October 16, at 5 p.m. ET

Expected to be immediately accretive

Adds $9.8 million of annual unaudited revenue and $3.1 million of annual unaudited adjusted EBITDA

Capital light, highly recurring revenue business in stable and growing market

Latest acquisition under the Kingsway Search Xcelerator platform

CHICAGO, IL / ACCESSWIRE / September 27, 2024 / (NYSE:KFS) Kingsway Financial Services Inc. ("Kingsway" or the "Company") today announced the acquisition of Image Solutions LLC ("Image Solutions"), an information technology managed services provider (IT MSP) for $19.5 million, plus transaction expenses and a working capital adjustment, in an all-cash transaction funded with cash on hand and $7.75 million in debt financing. Management will host a conference call Wednesday, October 16, at 5 p.m. ET to discuss the transaction.

This page is machine-translated. Sahm tries to improve but does not guarantee the accuracy and reliability of the translation, and will not be liable for any loss or damage caused by any inaccuracy or omission of the translation. *Disclaimer: The above content only represents the author's personal position and opinion and does not represent any position of Sahm Capital Financial Company and Sahm cannot confirm the authenticity, accuracy, and originality of the above content. Investors should consider the risks of investment products in light of their circumstances before making any investment decisions. When necessary, please consult a professional investment advisor. Sahm does not provide any investment advice, nor does it make any commitments and guarantees.