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An update from Elevate Service Group Inc ( (TSE:SERV) ) is now available.
Elevate Service Group Inc. has completed the acquisition of Charged Electric Services Ltd., an Ontario-based electrical contractor specializing in complex work for food processing and manufacturing clients across several southwestern Ontario markets. The $1.5 million deal, paid mostly in locked-up Elevate shares, adds a team of ten certified electricians and apprentices, converts Charged’s New Hamburg facility into a regional hub, and brings a fast-growing, recurring commercial revenue base that is expected to enhance Elevate’s cross-selling capabilities, reduce reliance on subcontractors, and support its strategy of building a leading national facilities services platform; concurrently, Elevate granted 1.51 million stock options to insiders, employees, and consultants, aligning incentives with its acquisition-led growth and long-term value-creation plans.
More about Elevate Service Group Inc
Elevate Service Group Inc. is a national facilities management and essential commercial services platform focused on consolidating and modernizing the fragmented facilities services sector. Through its operating companies, the firm leverages more than 20 years of experience serving national, blue-chip customers, integrating profitable service businesses on a scalable, technology-enabled platform to drive efficiencies, broaden service offerings, and extend its geographic reach across Canada.
Average Trading Volume: 21,022
Technical Sentiment Signal: Buy
Current Market Cap: C$22.8M
See more insights into SERV stock on TipRanks’ Stock Analysis page.