Eric Waxman, President of Spara Capital Partners is pleased to announce the closing of Spark Power Services Corp’s (“Spark”) acquisition of the Tillsonburg and Belleville business operations from Ascent Solutions Inc., a transaction first announced in March 2016. Spark., a sister company of Spara Capital, relied closely on the Spara Capital team to originate, structure and negotiate the deal.
Spark will re-launch two historic operating brands under which the business units operated before being acquired by Ascent. These include; Tiltran Power Services Corp. (Tillsonburg) and Tal Trees Power Services Corp. (Belleville). Both will operate as members of the Spark Power Group of Companies but function as autonomous, highly integrated operating teams.
Both Tiltran and Tal Trees specialize in constructing and maintaining medium to high voltage substations and power lines, engineering services and equipment sales and offer 24/7 emergency response. The combined businesses include 53 employees based in the two locations.
Spark is a leader in the Canadian power and energy sector providing development and asset management services to the renewable energy sector and technical services to the industrial, commercial, institutional (“ICI”) and utility markets. Headquartered in Oakville, Ontario, Spark has over 200 employees operating from Belleville, Blenheim, Burlington, Hamilton, Markham, Perth and Tillsonburg.
The acquisitions are part of Spark’s strategic consolidation of the Canadian power and energy services market. In 2012 Spark acquired renewable energy operations and maintenance specialist, Northwind Solutions, followed in 2014 with the purchase of high voltage services experts Rondar Inc. and power engineering services firm, Pelikan Engineering earlier this year.
Ascent Solutions Inc. will continue to be owned and operated by St. Thomas Energy, a Local Distribution Company owned by the City of St. Thomas.