---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-22-025459"
form_type: "8-K"
ticker: "KFS"
cik: "0001072627"
company_name: "KINGSWAY FINANCIAL SERVICES INC"
filed_at: "2022-11-02T23:59:59+00:00"
generated_at: "2026-06-22T11:48:25.402598+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Kingsway acquires CSuite Financial Partners for $8.5M cash plus up to $3.55M earnout

## Summary
- Purchase price $8.5M cash (subject to adjustments), plus up to $3.55M earnout over 3 years based on gross profit targets.
- CSuite had $9.4M unaudited revenue, $0.9M GAAP income before tax, $1.8M adjusted EBITDA for TTM ending July 31, 2022.
- Expected to be immediately accretive; will be run alongside Ravix as a one-stop shop for financial services.
- Second acquisition under Kingsway Search Xcelerator Program; paid with cash on hand.

## SEC filing metadata
- accession: 0001437749-22-025459
- form_type: 8-K
- ticker: KFS
- cik: 0001072627
- company_name: KINGSWAY FINANCIAL SERVICES INC
- filed_at: 2022-11-02T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 1.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1072627/000143774922025459/0001437749-22-025459-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1072627/000143774922025459/kfs20221101_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-22-025459
- JSON: https://secwatch.observer/filing/0001437749-22-025459.json
- Plain text: https://secwatch.observer/filing/0001437749-22-025459.txt

## Key facts
- Material Agreements
  KINGSWAY FINANCIAL SERVICES INC entered into Membership Interest Purchase Agreement with Arthur J. Cohen and Beth Garden, as Trustees of the Cohen Garden Trust, Realized Potential, LLC, and Arthur J. Cohen valued at approximately $8,500,000 (effective 2022-11-01).
  - Action: entry
  - Agreement: asset purchase
  - Counterparty: Arthur J. Cohen and Beth Garden, as Trustees of the Cohen Garden Trust, Realized Potential, LLC, and Arthur J. Cohen
  - Value: approximately $8,500,000
  - Effective: 2022-11-01
  source text: On November 1, 2022, CSuite Acquisition, LLC (the “Kingsway Buyer”), a newly formed subsidiary of Kingsway Financial Services Inc. (the “Company” or “Kingsway”), entered into a Membership Interest Purchase Agreement (the “Agreement”) with Arthur J. Cohen and Beth Garden, as Trustees of the Cohen Garden Trust dated July 13, 2015 (the “Cohen Garden Trust”), Realized Potential, LLC, a Delaware limited liability company (“Realized Potential” and, together with the Cohen Garden Trust, the “Sellers”), and Arthur J. Cohen, in his capacity as the Sellers’ Representative (“Sellers’ Representative”) pursuant to which the Kingsway Buyer acquired all of the outstanding equity interests of CSuite Financial Partners, LLC
  evidence_url: https://www.sec.gov/Archives/edgar/data/1072627/000143774922025459/0001437749-22-025459-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.