#United States #Jacksonville #Investment #Heartwood Partners #Norlee Group

Heartwood Partners Expands Reach with Investment in Norlee Group

On October 28, 2024, Heartwood Partners, a prominent private equity firm, announced a vital growth investment in Norlee Group. This collaboration with Norlee’s management team is set to bolster the company’s expansion and enhance its market position. While based in Jacksonville, Florida, Norlee Group stands out as a leading provider of various essential services, including electrical, mechanical, technology, fire protection, and engineering design services. With a dedicated workforce of around 600 employees, the company caters to diverse sectors such as commercial, healthcare, infrastructure, education, government, retail, and hospitality.

The investment made by Heartwood is strategic, as it aligns well with Norlee’s ambitious growth plans. Since partnering with Heartwood, Norlee has successfully completed three acquisitions within the span of a year, further diversifying its service offerings and solidifying its presence in critical markets. The acquisitions include companies like AEC Electrical, Regency Electric Company, and Allstate Electric—all based in Jacksonville—each bringing unique capabilities that expand Norlee's portfolio.

Heartwood’s Managing Partner, Demetrios Dounis, expressed enthusiasm about the partnership, emphasizing its potential impact on Norlee’s mission of becoming a trusted leader in integrated electrical and mechanical solutions across the Southeastern U.S. He highlighted the synergy between Heartwood’s investment strategy and Norlee’s vision, reinforcing the connection between management and financial backing.

Norlee’s CEO, Wally Budgell, noted the significance of this partnership in facilitating growth and operational excellence. He believes that Heartwood’s approach aligns with Norlee's goal of building a premier platform of service providers in the region. The collective resources and strategic insights from Heartwood are expected to accelerate Norlee's expansion and improve its service delivery.

Heartwood Partners itself has a distinguished reputation in the private equity landscape, with a focus on lower-leverage investment strategies that foster long-term growth. The firm has successfully managed over $1.3 billion in investments and commitments, primarily targeting founder, family, and management-owned businesses across various sectors, including specialty chemicals, food, and industrial consumer services.

The recent acquisition successes underscore the strength of the partnership between Heartwood and Norlee. With a clear direction set for further expansion, the collaboration is positioned to harness new opportunities and navigate the complexities of the evolving market. As Norlee continues to roll out new initiatives and expand its service capabilities, both companies are optimistic about the future ahead.

In summary, Heartwood Partners’ investment in Norlee Group represents a significant strategic move aimed at enhancing operational capabilities, expanding service offerings, and establishing a formidable presence in the Southeastern U.S. As Norlee embarks on this new phase of growth, the support from Heartwood promises not only financial backing but also invaluable strategic resources to drive sustained success.

For more information about Norlee Group and its services, please visit Norlee Group.