Kingsway Financial Services Inc. (NYSE:KFS) acquired Systems Products International, Inc. (SPI) on September 7, 2023. The closing purchase price was paid in cash. Drew Richard will be transitioning into the day-to-day operating role as CEO of SPI following the transaction. Holland & Knight served as legal counsel to Kingsway and Marko & Magolnick, P.A. served as legal counsel to the sellers. Kingsway expects the acquisition to be immediately accretive.

Kingsway Financial Services Inc. (NYSE:KFS) completed the acquisition of Systems Products International, Inc. for $2.8 million on September 7, 2023. KFS also acquired $0.121 million of cash and cash equivalents of SPI.