Electrical Services Acquisitions in Canada

Elevate Service Group Inc. (TSXV: SERV) completed the acquisition of Charged Electric Services Ltd., an Ontario-based electrical contractor headquartered in New Hamburg. The deal (CAD 1.5 million consideration: CAD 1.2M in Elevate shares and CAD 300k cash) adds a skilled ten-person electrical workforce, recurring commercial and industrial customers (notably in food processing and manufacturing), and accelerates technician internalization for Elevate’s facilities services platform.

S. & T. Group, a multi-trade company and wholly owned division of Team-Group, has acquired Ramco Electric Ltd., an electrical contracting firm based in Toronto. The acquisition expands S. & T. Group's geographic footprint into Southern Ontario and broadens its service capabilities, including planned expansion into EV charging and battery storage.

RESA Power, a portfolio company of Investcorp, has acquired Prime Engineering Ltd., a Victoria, British Columbia-based electrical design, engineering, supply and field services firm specializing in medium-voltage power and control systems. The acquisition expands RESA Power's medium-voltage engineering and supply capabilities and accelerates its ability to serve customers across Canada and the United States as an add-on to its existing platform.

BDC Capital’s Growth Equity Partners Fund II and an investor group led by George Fechter provided significant growth capital to Kroon Electric Corp., enabling the creation of Canada‑headquartered BCES Global. Concurrent with the investment, BCES Global (with Kroon management) acquired three U.S. electrical services businesses—Bopat Electric Co., Transworld, Inc., and Sabino Electric—to establish a North American consolidation platform focused on recurring preventive electrical maintenance and decarbonization‑related services.

BearCom has acquired The Surveillance Shop (TSS), a Calgary-based commercial security integrator founded in 1999; terms were not disclosed. The acquisition expands BearCom's video security, access control and wireless capabilities and increases its presence in Canada; BearCom completed this as its first acquisition following Siris' investment in December 2023.

PrevTech Innovations has acquired Agrivolt, combining PrevTech’s electrical safety monitoring capabilities with Agrivolt’s stray-voltage detection and mitigation products to offer integrated electrical-safety solutions for the agricultural sector. The deal brings together complementary technologies and expertise to improve prevention, animal welfare, and electrical network resilience on farms across North America.

LineStar Utility Supply, a portfolio company of CAI Capital Partners, has acquired Western High Voltage Test Centre (WHV), a Calgary-based provider of high-voltage live-line equipment testing. The acquisition adds high-voltage testing capabilities to LineStar's distribution business, retains WHV President Daniel Verhelst with a meaningful equity stake, and supports LineStar's strategy to expand services and geographic coverage across Canada.

Action Electrical Ltd. has acquired Big Hill Electrical Services; MAXIMA acted as sell‑side advisor to Big Hill. The deal combines two Alberta-based electrical contractors, strengthening Action Electrical's regional capabilities and service offering.

Lynx Equity Limited, a Toronto-based private equity firm, acquired Granite Electric Ltd., a Calgary-based electrical and fiber optic contracting company. The founder, Christopher Troy, sold the business in preparation for retirement and will remain involved for a transition period; BDC Capital provided acquisition financing.

MYR Group Inc., through its Canadian subsidiary MYR Group Construction Canada, Ltd., acquired all issued and outstanding shares of Powerline Plus Ltd. and its affiliate (the "Powerline Plus Companies"). Powerline Plus is a Toronto‑headquartered full‑service electrical distribution construction company with combined average annual revenues of about $80 million; the acquisition expands MYR's transmission & distribution capabilities and geographic reach in Canada.