Kingsway Search Xcelerator's 14th Acquisition
Managed IT and cybersecurity provider with double-digit organic growth, strong recurring services revenue, and long-tenured customer relationships
Purchase price of $2.4 million
Unaudited pro forma annual revenue of $2.5 million
Unaudited pro forma annual adjusted EBITDA of $0.5 million
Transaction funded entirely by Image Solutions without additional capital from Kingsway
CHICAGO, IL / ACCESS Newswire / August 6, 2026 / Kingsway Corporation (NYSE:KWY) ("Kingsway" or the "Company"), the only publicly-traded US company employing the Search Fund model to acquire and build great businesses, today announced that its wholly-owned subsidiary Image Solutions, LLC ("Image Solutions"), has acquired the assets of Romeo Computer Company, Inc. ("RCC"), a provider of managed IT and cybersecurity solutions based in the state of Michigan.
Serving small and mid-sized businesses, RCC delivers managed IT and cybersecurity solutions including IT support, specialty solutions, IT road mapping, compliance services, cloud solutions and virtualization, disaster recovery, dark web monitoring, and phone system support.
The acquisition expands Image Solutions' geographic footprint into Michigan and the upper Midwest, broadens its managed IT and cybersecurity capabilities, and is a strong cultural fit given RCC's service-first approach and long-tenured customer relationships. The transaction also deepens Image Solutions' presence in the small and mid-sized business market, where recurring managed services contracts underpin predictable revenue.
RCC generated approximately $2.5 million of unaudited pro forma revenue and approximately $0.5 million of unaudited pro forma adjusted EBITDA for the twelve months ended April 30, 2026.
The transaction closed on August 1, 2026, and was funded with a combination of cash on hand and debt financing. Image Solutions provided 100% of the equity capital for the transaction, with no additional funding required from the Kingsway parent company.
Management will provide additional details about the acquisition during the company's second quarter 2026 earnings call. Davide Zanchi, CEO of Image Solutions, sourced and led the transaction for Kingsway.
Management Commentary
"This acquisition aligns squarely with our strategy of acquiring profitable, service-based businesses with strong recurring revenue and organic growth," said JT Fitzgerald, President and CEO of Kingsway. "It's also an excellent example of the KSX flywheel in action - where our operating companies fund strategic M&A out of cash flow at the operating level, without relying on incremental capital from the Kingsway parent company. We are excited to support RCC's growth ambitions, and thrilled to welcome Steve and his team to Kingsway."
"RCC has built a durable business with high customer retention by always putting its clients first," said Davide Zanchi, CEO of Image Solutions. "We believe that by leveraging the Image Solutions operating platform and playbook, and by continuing to invest in its managed services and cybersecurity capabilities, RCC is well-positioned to drive further growth while maintaining the client-centric model that has underpinned its success."
"Joining Kingsway provides us with a strong partner and a long-term home," said Steven L. Eaton, Owner of RCC. "Kingsway's decentralized approach allows us to continue serving our clients with the same focus and culture, while benefiting from additional resources and opportunities for growth."
About Romeo Computer Company, Inc.
Romeo Computer Company, Inc. ("RCC") is a Michigan-based provider of managed IT and cybersecurity solutions that helps small and mid-sized businesses run secure, reliable, and well-managed technology environments. With a dedicated team of experienced engineers and technicians, RCC delivers IT support, cloud solutions and virtualization, disaster recovery, compliance services, dark web monitoring, and IT road mapping designed to meet the unique needs of each client. The company's solution-oriented approach emphasizes responsiveness, security, and practical technical insight, enabling clients to focus on mission-critical priorities with confidence.
About the Company
Kingsway Corporation ("Kingsway") (NYSE:KWY) is the only publicly-traded US company employing the Search Fund model to acquire and build great businesses.
Kingsway owns and operates a collection of high-quality B2B and B2C services companies that are asset-light, growing, profitable, and that have recurring revenues. Kingsway seeks to compound long-term shareholder value on a per share basis via its decentralized management model, its talented team of operators, and its tax-advantaged corporate structure.
Forward-Looking Statements
This press release may include "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 that are not historical facts and involve risks and uncertainties that could cause actual results to differ materially from those expected and projected. Words such as "expects," "believes," "anticipates," "intends," "estimates," "seeks," and variations and similar words and expressions are intended to identify such forward-looking statements; however, the absence of any such words does not mean that a statement is a not a forward-looking statement. Such forward-looking statements relate to future events or future performance, but reflect Kingsway management's current beliefs, based on information currently available. A number of factors could cause actual events, performance, or results to differ materially from the events, performance, and results discussed in the forward-looking statements. For information identifying important factors that could cause actual results to differ materially from those anticipated in the forward-looking statements, please refer to the section entitled "Risk Factors" in the Company's 2025 Annual Report on Form 10-K and subsequent Form 10-Qs and Form 8-Ks filed with the Securities and Exchange Commission. Except as expressly required by applicable securities law, the Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events, or otherwise.
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:
Hayden IR
James Carbonara
(646) 755-7412
james@haydenir.com
For Company Inquiries:
Kingsway Corporation
Kent Hansen, CFO
(312) 766-2163
khansen@kingsway-financial.com
SOURCE: Kingsway Corporation
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