Kingsway Acquires Roundhouse Electric & Equipment For $22.4M, Plus Transaction Expenses And Working Capital Adjustment

KSX Search Xcelerator's 9th Acquisition

Asset-light industrial equipment services business with recurring revenues and strong growth prospects

Purchase price of $22.4 million

Trailing 12-month unaudited revenue of $16.0 million

Trailing 12-month unaudited adjusted EBITDA of $4.2 million

CHICAGO, IL / ACCESS Newswire / July 2, 2025 / Kingsway Financial Services Inc. ("Kingsway" or the "Company"), the only publicly-traded US company employing the Search Fund model to acquire and build great businesses, today announced the acquisition of Roundhouse Electric & Equipment Co., Inc. ("Roundhouse"), a leading provider of industrial-scale electric motor maintenance, repair, testing, and sales solutions based in Odessa, Texas, for a purchase price of $22.4 million, plus transaction expenses and a working capital adjustment.

The transaction closed on July 1, 2025, and was funded with $10.4 million in cash on hand and $11.0 million from a senior credit facility. As part of the transaction, the selling shareholders are maintaining an economic interest in the go-forward entity, reflecting their continued belief in the company's long-term prospects and their alignment with Kingsway's growth vision.