Kingsway announces the acquisition of AAA Flexible Pipe Cleaning Corp

Kingsway, the only publicly traded U.S. company employing the SF model to acquire and build great businesses, has announced its 10^th acquisition with the buyout of AAA Flexible Pipe Cleaning Corp (“Advanced Plumbing and Drain”), a leading commercial and residential plumbing services business located in Cleveland, Ohio. The purchase price included $3M in cash at closing, a $0.5M seller note due in 2030, and a potential earn-out of up to $1.5M based on growth in adjusted EBITDA, payable in 2027 and 2028.

Founded in 1926 by Benjamin Fisco, Advanced Plumbing and Drain has been owned and operated by the Fisco family for nearly a century. It has built a well-earned reputation for quality, integrity, professionalism, and service in plumbing, waterproofing, and sewer cleaning and repair. The company’s customer base is approximately 65% commercial and 35% residential, with around 90% of revenues classified as recurring or reoccurring. The company generates $7M in revenue and $0.7M in EBITDA.

“I am excited to welcome Advanced Plumbing and Drain to the Kingsway Skilled Trades platform,” said JT Fitzgerald, Kingsway’s President and CEO. “Advanced Plumbing and Drain is a wonderful fit for our strategy, and I am confident that with Rob’s leadership and Kingsway’s financial backing, the future is bright for a business that has been a valuable member of the northeast Ohio community for almost a century.”

“It is a tremendous honor to be entrusted with Advanced Plumbing and Drain by the Fisco family,” said Rob Casper, President of Kingsway Skilled Trades. “I am committed to building on the company’s reputation for quality work and uncompromising customer service, and am thrilled to help write the next chapter of the company’s story.”