Business
Elevate Service Group Completes Strategic Electrical Services Acquisition, Accelerating Platform Scale and Technician Internalization
Acquisition expands Elevate's electrical services platform, adds high-quality recurring customers...
About this update from Elevate Service Group Inc
[{"type":"text","content":"Elevate Service Group Completes Strategic Electrical Services Acquisition, Accelerating Platform Scale and Technician InternalizationAcquisition expands Elevate's electrical services platform, adds high-quality recurring customers, and accelerates technician internalizationToronto, Ontario--(Newsfile Corp. - January 26, 2026) - Elevate Service Group Inc. (TSXV: SERV) (\"Elevate\" or the \"Company\") is pleased to announce that it has successfully completed the acquisition of Charged Electric Services Ltd. (\"Charged\"), an Ontario-based electrical services business.Founded by Tyler Weiss and headquartered in New Hamburg, Ontario, Charged is a specialized electrical contractor serving commercial and industrial customers across Kitchener-Waterloo, Guelph, London, and the western Greater Toronto Area. Charged brings deep expertise in complex electrical work for the food processing and manufacturing sectors, supported by a strong base of repeat commercial customers, and a growing preventative-maintenance offering. The acquisition brings a skilled workforce of ten certified electricians and apprentices. Under the terms of the definitive agreement, the purchase price is $1.5 million, consisting of $1.2 million in Elevate common shares (representing 850,000 common shares issued) and $300,000 in cash, subject to customary post-closing working capital adjustments. The Elevate common shares issued are subject to a two-year lock-up.As part of the transaction, Tyler Weiss has joined Elevate in a senior operational leadership role, reinforcing Elevate's owner-operator model and strengthening execution across Ontario.Paul Bissett, CEO of Elevate, commented \"We are excited to welcome the Charged team to Elevate's growing portfolio of integrated service businesses and to partner with Tyler Weiss, an exceptional operator. Charged's technical depth, customer relationships, and skilled workforce strengthen our platform and demonstrate the repeatability of our acquisition-led growth strategy as we build a leading national facilities services provider.\"Romeo Di Battista Jr., Chairman of Elevate, added \"Charged is exactly the type of high-quality, operator-led business we seek to acquire as we scale Elevate. This transaction reflects a hands-on approach to sourcing, diligence, and negotiation, with a focus on disciplined valuation and long-term va...