Heartwood Partners Makes Growth Investment in Norlee Group; White Wolf Exits
November 5, 2024
Heartwood Partners made a growth investment in Norlee Group, a Jacksonville, Florida-based provider of electrical, mechanical, technology, fire protection and engineering services, with White Wolf Capital exiting its prior investment. Heartwood is partnering with Norlee's management to accelerate organic growth and support add-on acquisitions; since the investment Norlee has completed three strategic acquisitions to expand capabilities and market presence in Florida. Transaction terms were not disclosed.
- Buyers
- Heartwood Partners
- Targets
- Norlee Group
- Sellers
- White Wolf Capital Group
- Platforms
- Norlee Group
- Industry
- Industrial Services
- Location
- Florida, United States
- Transaction Type
- Growth capital
Explore More
Related Acquisitions
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The Norlee Group Acquires Colwill Engineering
August 7, 2023
Engineering Services
The Norlee Group, a portfolio company of White Wolf Capital Group, has acquired Colwill Engineering, a Tampa-based electrical, mechanical and technology engineering contractor. White Wolf provided senior term debt and a minority equity co-investment to finance the add-on acquisition, which expands Norlee's engineering and design capabilities across Florida and nationwide.
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Norlee Group (with Heartwood Partners) Acquires Beaumont Electric Company
October 14, 2025
Industrial Services
Norlee Group has acquired Beaumont Electric Company, a Naples, Florida-based electrical contracting firm, in a transaction completed on September 30, 2025; terms were not disclosed. The deal, supported by sponsor Heartwood Partners and advised to the seller by Madison Street Capital, expands Norlee's footprint and service capabilities in Southwest Florida and the broader Southeastern U.S.
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Heartwood Partners Invests in Royal Products
April 12, 2024
Manufacturing
Heartwood Partners made a growth investment in Royal Products, a Hauppauge, New York-based manufacturer and distributor of metalworking performance accessories, on April 12, 2024. Management will remain in place while Heartwood plans to support the company’s expansion through investments in people, processes and strategic add-on acquisitions; Lincoln International and Carl Marks Advisors served as financial advisors.
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The Norlee Group Acquires Tietjen Technologies, Inc.
October 24, 2023
Electrical Services
The Norlee Group, a portfolio company of White Wolf Capital Group, has acquired Tietjen Technologies, Inc., a low-voltage structured cabling, fiber optics, CCTV and building automation contractor based in Atlantic Beach, Florida. The transaction was completed with senior term debt provided by White Wolf Private Credit; financial terms were not disclosed.
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Heartwood Partners Acquires NativeSeed Group
March 27, 2023
Agriculture
Heartwood Partners LLC has acquired NativeSeed Group, a vertically integrated provider of native seeds and erosion control products headquartered in Carpinteria, California, from founder Victor Schaff. Heartwood said it will partner with the existing management team to expand the business organically and via strategic add-on acquisitions to grow geography and customer types.
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Norlee Group Acquires Inter-Bay Electric Company
November 5, 2025
Electrical Services
Norlee Group, a Heartwood Partners-backed platform, has acquired Inter-Bay Electric Company (IBE), a Tampa-based commercial electrical contractor, in a transaction that closed on November 5, 2025. The add-on expands Norlee's Florida footprint and service capabilities—particularly in commercial, education and public-sector electrical and low-voltage work—while IBE will continue to operate under its current leadership.
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