Nolan & Associates is pleased to announce that it exclusively advised Trinity in its Sale to Kingsway Financial Services, Inc. and its subsidiary, 1347 Capital, LLC 

“I contacted Nolan & Associates in January after being referred to them by a former Nolan client.  Trinity was in the midst of taking on a substantial amount of new business and we had an immediate need for capital to support our growth.  We engaged Nolan who promptly introduced Kingsway as our ideal partner and the transaction was closed within a few weeks.”

                                                                                – Peter Dikeos, Founder & CEO, Trinity Warranty, Inc.

St. Louis, MO – (May 22, 2013) Nolan & Associates is pleased to announce that it recently advised Trinity Warranty, Inc. (“Trinity”) in its sale to Kingsway Financial Services, Inc. (TSX: KFS, NYSE: KFS) and its subsidiary, 1347 Capital, LLC.

Our Client: Trinity Warranty

  • Trinity, located in Chicagoland, was founded in 2009 by a team of industry veterans with several decades of experience in the extended warranty space.
  • The Company is a provider of unique warranty products and maintenance support to consumers in the heating, ventilation, air conditioning and refrigeration (HVAC/R) industry.
  • Trinity operates two separate, but related divisions.  One of the divisions is a third party administrator (TPA) of Extended Warranty and Extended Service Plans, while the other provides facility managers of retail properties with maintenance and support for HVAC/R equipment.

Objectives of Trinity Warranty

  • For the past three years, Trinity has grown rapidly while carefully developing the infrastructure necessary to expand while incurring limited incremental overhead.
  • The Company sought a partner to assist it with a growth capital raise to stabilize the balance sheet and position the Company to take advantage of many of the near-term growth opportunities in the pipeline.

Solution: Sale to Kingsway Financial Services

  • Nolan marketed Trinity’s unique products and capabilities, experienced management team and rapid growth story to a diverse mix of strategic targets and private equity groups.
  • Included in the list of potential buyers was Kingsway Financial Services, a public company listed on both the Toronto and New York Stock Exchanges (TSX: KFS, NYSE: KFS).
  • Kingsway, a holding company which owns or controls stakes in several insurance industry assets, believed Trinity had a compelling value proposition in its role as a TPA of warranty products. 

Sell Side Process Results

  • Kingsway Financial Services presented both a financially attractive offer and had the ability to close the deal expeditiously.
  • While the process was thorough, it was fast-tracked taking less than four months from start-to-finish.
  • The Nolan process created a sense of scarcity, competition and momentum which convinced Trinity’s pool of potential buyers to put their best foot forward.

About Nolan & Associates

Nolan & Associates is a boutique investment banking firm providing Mergers & Acquisitions and Capital Raise advisory services to middle market business owners and buyers.  Founded in 1976, Nolan is broadly recognized as a leading investment banking firm with Midwestern roots and global reach.  The Nolan team has completed hundreds of transactions in the middle market while working collaboratively from its offices in St. Louis, MO and Decatur, IL.

Securities offered through Middle Market Transactions, Inc.  Member: FINRA/SIPC.

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