{
  "title": "\"Elevate Service Group to acquire Red Lake: $1.3M LOI terms\"",
  "url": "https://acquisitions.com/blog/elevate-service-group-acquires-red-lake-plumbing-heating/",
  "author": "Moran Pober",
  "publisher": "Acquisitions.com",
  "published": "2026-10-29",
  "updated": "2026-10-29",
  "section": "Deal reports",
  "keyword": "Elevate Service Group to acquire Red Lake",
  "short_answer": "Elevate Service Group signed a non-binding letter of intent on 28 October 2026 to buy Red Lake Plumbing & Heating in Northwestern Ontario for $1.3 million. Half is cash at closing; the rest is locked-up shares and a three-year note. Red Lake had $3.7 million of revenue and $0.4 million of EBITDA in 2025.",
  "facts": {
    "Buyer": "Elevate Service Group Inc. (TSXV: SERV; OTCQB: ESVCF)",
    "Target": "Red Lake Plumbing & Heating Inc.",
    "Seller": "Métis Infinity Investments Limited Partnership",
    "Sector": "Plumbing, HVAC and gas fitting for commercial, industrial and home customers",
    "Location": "Red Lake, Ontario, Canada; serves northern and Indigenous communities",
    "Price": "$1.3 million (the release does not name the currency)",
    "Structure": "$650,000 cash at closing; $300,000 in Elevate shares with a three-year lock-up; $350,000 promissory note over three years",
    "2025 results": "Revenue $3.7 million; EBITDA $0.4 million; net income before taxes $0.3 million (audited, per the release)",
    "Staff": "Over ten licensed technicians",
    "Status": "Non-binding letter of intent; expected to close by the end of 2026",
    "Announced": "28 October 2026",
    "Source": "Elevate Service Group press release on Newsfile, also carried by Yahoo Finance"
  },
  "sources": [
    "https://www.newsfilecorp.com/release/321359",
    "https://finance.yahoo.com/small-business/articles/elevate-group-signs-loi-acquire-120000135.html"
  ],
  "license": "Facts may be quoted with attribution to Acquisitions.com and a link to the url above."
}