Elevate Service Group Signs LOI to Acquire Red Lake Plumbing & Heating, Establishing Northwestern Ontario Service Platform

Elevate Service Group signed a letter of intent to acquire 100% of Red Lake Plumbing & Heating for $1.3 million — $650,000 cash, $300,000 in shares, and a $350,000 three-year promissory note. Red Lake generated $3.7 million of 2025 revenue and $0.4 million EBITDA and adds over ten licensed plumbing, HVAC and gas technicians, giving Elevate a permanent operating base in Northwestern Ontario. Vendor Métis Infinity, the economic development arm of the Métis Nation of Ontario, will become a shareholder of Elevate at closing, laying groundwork for expansion into remote and Indigenous communities.

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