#United States #Austin #Madison Street #Norlee Group #IEM Electric

Madison Street Capital Advises on IEM Electric's Transition to Norlee Group

On October 7, 2026, Madison Street Capital and its affiliated broker-dealer MSC-BD announced their role as the exclusive financial advisor in the acquisition of IEM Electric, Inc. by Norlee Group, Inc. This significant transaction highlights the growing collaboration within the sectors of electrical engineering and industrial contracting.

Founded in 1992, IEM Electric, Inc., based in Hickory, North Carolina, has established itself as a leading player in the industrial electrical contracting landscape. The firm specializes in comprehensive electrical solutions that cater to manufacturing and heavy industrial facilities across the Southeastern United States. From power distribution to ongoing electrical support, IEM has built a reputation for delivering safe, reliable, and efficient services that encompass the entire project lifecycle.

Madison Street Capital’s CEO, Charles Botchway, proudly announced the successful execution of this transaction. He commended IEM Electric's leadership, stating, “For more than three decades, IEM has earned the trust of its industrial customers through technically demanding work done reliably.” The deal was led by Senior Managing Director Barry Petersen, who expressed gratitude for the opportunity to help facilitate the transition of IEM to a new ownership structure.

IEM Electric's owners, Paul Brooks, Jr. and Tony Mikeal, shared their enthusiasm about joining forces with Norlee Group, a move they assert will uphold and enhance the mission and values of IEM Electric. They expressed confidence in Norlee Group's alignment with their vision, promising a seamless transition into this next chapter.

“The culmination of decades of hard work has led to this momentous occasion,” Barry Petersen highlighted, reflecting on the dedication and commitment IEM has shown over the years. Under Norlee Group’s ownership, IEM Electric is anticipated to enhance its service offerings while embarking on new growth initiatives.

Norlee Group, headquartered in Jacksonville, Florida, is known for its extensive portfolio in electrical, mechanical, technology, fire protection, and engineering design services. The group services a wide demographic, including government entities and a variety of corporations, ensuring tailored solutions to meet unique client needs. As they move forward, both IEM Electric and Norlee Group are poised for exciting opportunities that leverage their respective strengths.

Madison Street Capital has garnered widespread recognition as an international investment bank specializing in mergers and acquisitions. Their core values focus on integrity and service excellence, consistently placing client objectives at the forefront of their operations. By facilitating this partnership, Madison Street not only underscores its commitment to client success but also its proficiency in navigating complex industry landscapes.

This transaction marks a significant milestone in IEM Electric's trajectory, promising renewed capabilities and market presence under Norlee Group’s stewardship. As both firms look ahead, the future appears bright for enhanced service offerings, operational efficiencies, and strategic growth opportunities. Madison Street Capital remains a prominent player in the investment banking sector, dedicated to fostering successful outcomes through expert advisory services and informed decision-making. For more information about Madison Street Capital and its offerings, visit madisonstreetcapital.com.