Industrial Growth Partners Acquires AEM

Norlee Group Acquires IEM Electric, Inc.

October 5, 2026

Electrical Services

Norlee Group, backed by Heartwood Partners, acquired IEM Electric, an industrial electrical contractor based in Hickory, North Carolina. The acquisition closed on September 30, 2026, adding industrial controls, automation, and maintenance capabilities and extending Norlee’s footprint into North Carolina; IEM’s owners Paul Brooks Jr. and Tony Mikeal were identified in the sale announcement.

Industrial Growth Partners Acquires Alpha Metalcraft Group (AMG)

July 29, 2024

Manufacturing

Industrial Growth Partners VI, L.P., in partnership with AMG management and certain outside investors, has acquired Alpha Metalcraft Group (AMG), a Danbury, Connecticut-based manufacturer of precision formed metal components. The investment creates a platform to accelerate AMG's growth, pursue strategic add-on acquisitions, and expand capabilities across aerospace & defense, medical, and industrial end markets.

AEM Acquires Central Semiconductor Corp.

February 21, 2023

Manufacturing

AEM, a San Diego-based electronics platform and portfolio company of Industrial Growth Partners (IGP), has acquired Central Semiconductor Corp., a designer and manufacturer of discrete semiconductor solutions based in Hauppauge, New York. The deal expands AEM's product offering in discrete power conditioning components and is being executed as an add-on to AEM's existing platform to broaden capabilities and serve combined customers across industrial, medical, aerospace and commercial end markets.

Industrial Growth Partners Acquires Double E Company

June 21, 2022

Manufacturing

Industrial Growth Partners (IGP) acquired Double E Company, a West Bridgewater, Massachusetts-based manufacturer of web converting components and material handling equipment, from River Associates Investments. IGP partnered with Double E management and certain outside investors to create a platform to accelerate growth through strategic initiatives and add-on acquisitions; financial terms were not disclosed.

AEM (IGP Portfolio Company) Acquires Renaissance Electronics & Communications

February 3, 2022

Aerospace & Defense

AEM, a San Diego–based designer and manufacturer of mission-critical electronic circuit protection components and a portfolio company of Industrial Growth Partners (IGP), acquired Renaissance Electronics & Communications (and its subsidiary HXI) on February 3, 2022. The deal expands AEM’s high-reliability component offering to include RF and millimeter-wave products, strengthening its position with space and defense customers and enabling cross-selling and geographic expansion.

Industrial Growth Partners Acquires ASPEQ Heating Group

November 8, 2019

Manufacturing

Industrial Growth Partners V, L.P. (IGP), in partnership with management and certain outside investors, has acquired ASPEQ Heating Group LLC, a St. Louis-based manufacturer of custom-configured electric heating and thermal management products. IGP intends to use the transaction as a platform investment to accelerate ASPEQ's growth by enhancing its go-to-market strategy and product portfolio, expanding end-market reach, and pursuing add-on acquisitions.