Toronto, 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 value creation."
Key acquisition highlights are as follows:
Revenue Growth and Diversification: Charged contributes a high-quality book of recurring customers and service work, creating cross-selling opportunities across Elevate's broader platform.
Expanded Skilled Trades Capabilities: The addition of ten licensed electricians and apprentices allows Elevate to internalize high demand electrical work, reducing reliance on regional subcontractors.
Operational Efficiencies: The facility in New Hamburg, Ontario will serve as a regional operations hub for inventory and parts storage, reducing technician travel time, improving response time for clients, and improving efficiencies.
Financial Strength: In the first eleven months of the fiscal year ending January 31, 2026, Charged generated approximately $5.3 million of revenue, representing over 130% growth from the prior year, and $0.9 million of EBITDA. All financial information herein is unaudited.
Stock Option Grants
Elevate has also granted 1,510,000 stock options to officers, directors, employees and consultants in accordance with the Company's omnibus incentive plan dated November 10, 2025, and under existing employment and consulting agreements. A total of 710,000 options were granted to directors and officers, 600,000 options were granted to consultants, and 200,000 options were granted to employees of Elevate and its subsidiaries. Each stock option has an exercise price of $1.35 and a term of five years. The stock options are subject to vesting periods ranging from six months to three years.
Elevate Service Group Inc.
Elevate is a national facilities management and essential commercial services platform focused on consolidating and modernizing this fragmented sector. Through its operating companies, Elevate brings over 20 years experience as a trusted partner to national, blue-chip customers. Elevate's strategy is to integrate a portfolio of profitable operating businesses across a scalable, national platform supported by shared infrastructure, technology, and operational best practices. This approach drives efficiencies, expands service offerings, and enhances customer outcomes while extending Elevate's geographic reach. Elevate trades on the TSX Venture Exchange under the ticker "SERV".
Cautionary Note Regarding Forward-Looking Information
This press release contains statements that constitute "forward-looking information" ("forward-looking information") within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking information and are based on expectations, estimates, and projections as of the date of this news release. Any statement that discusses the acquisition of Charged and the expected benefits thereof, and other predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events, or performance (often but not always using phrases such as "expects", "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budgets", "schedules", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events, or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information.
In disclosing the forward-looking information contained in this press release, the Company has made certain assumptions, including that regulatory approvals for the proposed acquisition will be received. Although the Company believes that the expectations reflected in such forward-looking information are reasonable, it can give no assurance that the expectations of any forward-looking information will prove to be correct. Known and unknown risks, uncertainties, and other factors may cause actual results and future events to differ materially from those expressed or implied by such forward-looking information. Such factors include but are not limited to: failure to receive regulatory approvals for the proposed acquisition; and general business, economic, competitive, political, and social uncertainties. Accordingly, readers should not place undue reliance on the forward-looking information contained in this press release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking information to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking information, or otherwise.
Cautionary Note Regarding Non-IFRS Measures
This press release makes reference to certain Non-IFRS measures that do not have a standardized meaning under IFRS and therefore may not be comparable to similarly titled measures presented by other publicly traded companies. The Company includes these measures as a means of measuring financial performance. More specifically, the Company makes reference to the following Non-IFRS measures:
EBITDA is defined as earnings before interest, taxes, depreciation and amortization.
For further information, please contact:
Elevate Service Group
Paul Bissett, CEO
Frank Guo, CFO
info@elevateservicegroup.com
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SOURCE: Elevate Service Group Inc.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/281685
Source: Elevate Service Group Inc.
