Kingsway Financial Services Acquires Ravix Financial Inc.

Kingsway Financial Services Acquires Secure Nursing Service, Inc.

November 21, 2022

Healthcare Services

Kingsway Financial Services (NYSE: KFS) acquired Secure Nursing Service, Inc. (SNS), a Los Angeles-based provider of per diem and travel nursing and allied healthcare staffing. The asset purchase was financed with cash on hand and a term loan from Signature Bank; SNS adds $19.7 million of unaudited revenue and $2.7 million of unaudited adjusted EBITDA and is expected to be immediately accretive.

Foundation Software Acquires Vendrix, Inc.

June 11, 2025

Software

Foundation Software, LLC has acquired Vendrix, Inc., a construction-focused financial management platform that provides corporate cards, expense management, AP automation and bill pay. The acquisition expands Foundation Software's construction software suite by adding expense and accounts-payable capabilities to deliver a more complete end-to-end solution for contractors.

FIS Acquires Payrix from PSG and Blue Star Innovation Partners

February 13, 2022

Payments & Fintech

FIS has acquired Payrix, an embedded payments fintech that enables SaaS platforms to embed payments and financial services for SMB merchants. Payrix was sold by an investor group led by PSG (Providence Strategic Growth) and Blue Star Innovation Partners; terms were not disclosed. The deal expands FIS's embedded payments, onboarding and automated underwriting capabilities to accelerate its e-commerce and platform offerings for SMBs.

Kingsway Forms Vertical Market Solutions and Acquires Systems Products International (SPI)

September 11, 2023

Software

Kingsway Financial Services formed Vertical Market Solutions, LLC and acquired Miami-based vertical market software provider Systems Products International, Inc. (SPI) in a cash transaction as the fourth acquisition under its Kingsway Search Xcelerator program. Kingsway said the deal will be immediately accretive, expand its recurring revenue base, and establish VMS as a platform for future vertical market software add-ons; Drew Richard will transition to CEO of SPI.

FMS Solutions (New Heritage Capital Portfolio) Acquires Retail Financial Services

September 14, 2022

Accounting & Tax

FMS Solutions, a New Heritage Capital portfolio company, has acquired Retail Financial Services (RFS), a provider of accounting, tax preparation and tax planning services for independent grocers and multi-site retailers. The transaction is FMS' third add-on since partnering with New Heritage and expands FMS' tax and planning capabilities within its tech-enabled and SaaS-based suite for multi-site retailers.

Aquila Software Acquires Financial Risk Solutions (FRS)

December 12, 2018

Software

Aquila Software announced the acquisition of Financial Risk Solutions (FRS), the developer of the InvestPro investment administration platform serving life assurance, pensions and asset management clients. Aquila said the deal will enable further product development and expansion of InvestPro's geographic reach while retaining FRS leadership and supporting long-term client relationships.