Elevate Service Group Announces Transformational Acquisition of TFI Food Equipment Solutions, a Leading Foodservice Equipment Distributor and Service Provider

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Elevate Service Group Announces Transformational Acquisition of TFI Food Equipment Solutions, a Leading Foodservice Equipment Distributor and Service ProviderAcquisition increases Elevate's pro forma revenues by 80% to $90 million, nearly doubles Elevate's internal technician base, and delivers cross-selling opportunities across Canada's most recognized restaurant, grocery, and convenience brandsToronto, Ontario--(Newsfile Corp. - May 1, 2026) - Elevate Service Group Inc. (TSXV: SERV) ("Elevate" or the "Company") is pleased to announce it has entered into a definitive agreement to acquire Taylor Freezers Inc. (dba "TFI Food Equipment Solutions" or "TFI") (the "Acquisition"), a leading service provider and distributor of specialized foodservice equipment. Headquartered in Ontario, TFI brings exclusive multi-year distribution rights from leading equipment suppliers Taylor, Henny Penny and Franke Coffee Systems, and a network of technicians with factory-trained expertise. TFI has trusted relationships with the most recognized quick-service restaurant ("QSR"), grocery, and convenience brands in Canada including McDonald's, Tim Hortons, Circle K, Loblaws, Dairy Queen, KFC and many others. The Acquisition is expected to be completed in early May 2026.The Acquisition represents a defining milestone in Elevate's strategy to build a national self-performing facilities management and commercial services platform, anchored by equipment OEM partnerships, and materially increases Elevate's ability to deliver comprehensive services to national customers. Through TFI, Elevate benefits from revenue diversification, network expansion, and trusted relationships with thousands of locations servicing fryers, ovens, grills, ice cream machines, and premium coffee systems. These trusted relationships create a clear pathway to cross-sell Elevate's integrated facility services including electrical, plumbing, lighting, and general maintenance across a shared blue-chip customer base. "This is a transformational acquisition for Elevate, increasing our pro forma revenue by 80%," said Paul Bissett, Chief Executive Officer of Elevate. "TFI brings scale, brand credibility, exclusive supplier relationships, deep technical specialization, and blue-chip customer relationships. We are acquiring a 70+ year operating platform that serves major restaurant and retail brands across Canada, creat...

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