Elevate Service Group Completes Strategic Electrical Services Acquisition, Accelerating Platform Scale and Technician Internalization

Executive Summary

• Elevate Service Group Inc. completed the acquisition of Charged Electric Services Ltd. for a total purchase price of $1.5 million.
• Consideration consisted of $1.2 million in Elevate common shares (850,000 shares) and $300,000 cash; the shares are subject to a two‑year lock‑up.
• The deal adds ten certified electricians/apprentices, expands Elevate’s electrical capabilities across Ontario, and brings Charged’s FY2025 revenue of ~$5.3 million with $0.9 million EBITDA.

Key Details

• Purchase Price: $1.5 M total – $1.2 M in Elevate common shares (850,000 shares) + $300k cash; post‑closing working‑capital adjustments apply.
• Share Lock‑up: Elevate shares issued are locked for two years.
• Acquired Business: Charged Electric Services Ltd., an Ontario‑based electrical contractor serving commercial/industrial customers in Kitchener‑Waterloo, Guelph, London, and the western GTA.
• Workforce Added: Ten licensed electricians and apprentices.
• Leadership Addition: Founder Tyler Weiss joins Elevate in a senior operational leadership role.
• Financial Snapshot (FY ending Jan 31 2026): Charged generated approximately $5.3 M of revenue (130% YoY growth) and $0.9 M EBITDA (unaudited).
• Strategic Benefits:
• Revenue diversification and cross‑selling opportunities across Elevate’s platform.
• Internalization of high‑demand electrical work, reducing reliance on subcontractors.
• New regional hub in New Hamburg for inventory/parts storage, improving technician response times and operational efficiency.
• Stock Option Grants (concurrent announcement): 1,510,000 options granted at $1.35 exercise price; 710k to directors/officers, 600k to consultants, 200k to employees; five‑year term with vesting periods of 6 months–3 years.

Notable Quotes

• Paul Bissett, CEO: “We are excited to welcome the Charged team… and partner with Tyler Weiss… The acquisition strengthens our platform and demonstrates the repeatability of our acquisition‑led growth strategy.”
• Romeo Di Battista Jr., Chairman: “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…”