M&A Deal Summary

Heartwood Partners Acquires The Norlee Group

On November 5, 2024, private equity firm Heartwood Partners acquired engineering company The Norlee Group from White Wolf Capital

Acquisition Highlights
  • This is Heartwood Partners’ 2nd transaction in the Engineering sector.
  • This is Heartwood Partners’ 29th transaction in the United States.
  • This is Heartwood Partners’ 2nd transaction in Florida.

M&A Deal Summary
Date 2024-11-05
Target The Norlee Group
Sector Engineering
Buyer(s) Heartwood Partners
Sellers(s) White Wolf Capital
Deal Type Secondary Buyout

Target

The Norlee Group

Jacksonville, Florida, United States
The Norlee Group (NLG) specializes in electrical and specialty services for a wide range of projects across the United States. With a diverse portfolio that includes companies such as Adkins Electric, Colwill Enterprises, Millennium Electric, Tietjen CET Technologies, and Pacific Power & Systems, NLG provides expertise to clients in sectors such as public works, industrial, commercial, underground, multi-family, and technology. NLG serves an array of clients, from government entities and general contractors to property developers, corporations, and small businesses, delivering solutions tailored to their unique needs. The Norlee Group is based in Jacksonville, Florida.

Search 200,500 Deals Now

SEARCH BY

  • Buyer Type (PE or Strategic)
  • Deal Size ($10M to $10B+)
  • Sector (60 Sectors)
  • Deal Type
  • Geography
  • & More

Try For Free 7-Day Free Trial

Buyer(S) 1

Buyer

Heartwood Partners

Norwalk, Connecticut, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1982
PE ASSETS 1.6B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Heartwood Partners is a private equity firm focused on partnerships with middle-market companies across the US. The Firm prefers to invest in family owned and managed companies where it can leverage strategic resources for long-term growth. Target companies are typically profitable with $5 to $30 million of EBITDA with up to $400 million in revenue. Sectors of interest include agriculture, automotive, consumer products, distribution, food, industrial services, niche manufacturing, packaging, and chemicals. Heartwood Partners was formed in 1982 and is headquartered in Norwalk, Connecticut.

DEAL STATS #
Overall 29 of 29
Sector (Engineering) 2 of 2
Type (Secondary Buyout) 5 of 5
State (Florida) 2 of 2
Country (United States) 29 of 29
Year (2024) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-09-25 UW Solutions

Jeffersontown, Kentucky, United States

UW Solutions is vertically integrated manufacturer of high-performance coated substrates, differentiated by its proprietary formulations and coating application processes. The Company serves a broad range of customers in attractive end markets, including building products for distribution centers and manufacturing facilities, as well as premium products for the graphic arts market. UW Solutions is based in Jeffersontown, Kentucky.

Sell $240M

Seller(S) 1

SELLER

White Wolf Capital

Miami, Florida, United States
Category Private Equity Firm
Founded 2011
Size Small
Type Sector Agnostic
DESCRIPTION

White Wolf Capital is a private equity firm focused on management buyouts and recapitalizations of mid-sized, North American companies with $20 to $200 million of revenue. White Wolf looks to partner with management when pursuing transactions and will consider opportunities across a variety of sectors, including manufacturing, security, safety/defense, business services, and information technology. In addition to private equity investing, White Wolf also provides credit and looks to make fund investments. White Wolf Capital was formed in 2011 and is based in Miami, Florida.

DEAL STATS #
Overall 2 of 2
Sector (Engineering) 1 of 1
Type (Secondary Buyout) 1 of 1
State (Florida) 1 of 1
Country (United States) 2 of 2
Year (2024) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-12-11 Seacoast Service Partners

Miami, Florida, United States

Seacoast Service Partners is an active acquirer of plumbing and HVAC businesses in the Southeastern United States. SSP’s strategy is to acquire and partner with profitable companies that provide high-quality value to their customers. The company is uniquely positioned to strengthen already established companies in the fragmented home and commercial services market. By leveraging resources, it offers expanded services, increased efficiency, and improved profitability for partner companies. Seacoast Service Partners is based in Miami, Florida.

Buy -
Mergr

Product

Company

Legal