Heartwood Partners Announces Growth Investment in Norlee Group

心木合伙人宣布对诺里集团进行增长投资

NORWALK, Conn., June 12, 2025-- Heartwood Partners® is pleased to announce that, on October 28, 2024, in partnership with the management team who will continue to lead the Company, it made a growth investment in Norlee Group ('Norlee' or the 'Company').

康涅狄格州诺沃克，2025年6月12日——Heartwood Partners® 很高兴地宣布，于2024年10月28日，与将继续领导公司的管理团队合作，其对Norlee集团（“Norlee”或“公司”）进行了增长性投资。

Headquartered in Jacksonville, Florida, Norlee is a leading multi-brand full-service provider of mission-critical electrical, mechanical, technology, fire protection, and engineering & design services. The Company serves clients across the commercial, healthcare, infrastructure, education, government, retail, institutional, multi-family, and hospitality sectors.

总部位于佛罗里达州杰克逊维尔的Norlee是一家领先的多品牌全方位服务提供商，专注于提供关键任务的电气、机械、技术、消防、工程与设计服务。公司服务于商业、医疗、基础设施、教育、政府、零售、机构、多户住宅和酒店等多个领域的客户。

With a workforce of approximately 600 employees, the Company offers a comprehensive suite of electrical and mechanical services, including system engineering & design-build, in-plant service & repair, underground infrastructure, and medium-to-low voltage solutions such as access control, 5G fiber optics, communication cabling, security and energy efficiency systems..

公司拥有约600名员工，提供全面的电气和机械服务，包括系统工程与设计建造、厂内服务与维修、地下基础设施，以及中低压解决方案，如门禁控制、5G光纤、通信布线、安全和能效系统等。

At the time of Heartwood's growth investment in Norlee, the Company operarated multiple leading service providers across Central and Northern Florida, including Adkins Electric ('AEI'), Colwill Enterprises ('CEI'), Millennium Electric ('MEI'), and Tietjen Technologies ('TTI'). Heartwood has partnered with the Norlee team, led by Wally Budgell, Norlee's founder and CEO, to support the Company's continued growth.

在 Heartwood 对 Norlee 进行增长投资时，该公司在佛罗里达州中部和北部运营着多家领先的服务提供商，包括 Adkins Electric（AEI）、Colwill Enterprises（CEI）、Millennium Electric（MEI）和 Tietjen Technologies（TTI）。Heartwood 与 Norlee 团队合作，该团队由 Norlee 创始人兼首席执行官 Wally Budgell 领导，以支持公司的持续增长。

Since the investment, the Company has completed three strategic acquisitions to further expand its service capabilities and strengthen its presence in core markets: (1) AEC Electrical ('AEC'), a Jacksonville, FL-based provider of data & communication cabling, electrical & energy management, and maintenance & repairs serving educational, commercial, and industrial clients; (2) Regency Electric Company ('RE'), a Jacksonville, FL-based provider of electrical design/build, building information modeling ('BIM'), and on-site support & inspections services across the healthcare, commercial, sports & entertainment, and hospitality sectors; and (3) Allstate Electric ('AE'), a Jacksonville, FL-based provider of electrical and underground services serving commercial and industrial clients..

自投资以来，公司已完成三次战略性收购，以进一步扩展其服务能力并加强在核心市场的地位：(1) AEC电气公司（“AEC”），佛罗里达州杰克逊维尔的一家为教育、商业和工业客户提供数据与通信布线、电气与能源管理以及维护与维修服务的供应商；(2) 摄政电气公司（“RE”），佛罗里达州杰克逊维尔的一家为医疗、商业、体育与娱乐及酒店业提供电气设计/建造、建筑信息建模（“BIM”）以及现场支持与检查服务的供应商；以及(3) 全州电气公司（“AE”），佛罗里达州杰克逊维尔的一家为商业和工业客户提供电气和地下服务的供应商。

'We are delighted to partner with Wally and the rest of the Norlee team to continue executing on their vision of establishing the Company as a trusted leader in integrated electrical and mechanical solutions across the Southeastern U.S.,' said Demetrios Dounis, Managing Partner, Heartwood Partners. 'Norlee is a fantastic fit for Heartwood's model of backing strong management teams and applying our low-leverage strategy and growth-focused approach.

“我们很高兴与瓦利和诺里团队的其他成员合作，继续实现他们将公司打造为美国东南部综合电气和机械解决方案的可信赖领导者的愿景，”哈特伍德合伙人管理合伙人德米特里奥斯·杜尼斯表示。“诺里完美契合哈特伍德支持强大管理团队、运用低杠杆策略以及专注于增长的方法。”

The Norlee team has a track record of success, and we're excited to help them execute and accelerate their growth strategy.'.

诺利团队有着成功的记录，我们很兴奋能帮助他们执行并加速其增长战略。

'Our partnership with Heartwood Partners marks an exciting new chapter in Norlee's growth journey,' said Wally Budgell, CEO of Norlee. 'Since founding Norlee, we've been committed to building a comprehensive platform of best-in-class service providers across the Southeastern U.S. Heartwood's investment approach aligns perfectly with our vision – they understand the value of maintaining operational excellence while providing the strategic resources and capital needed to accelerate our expansion.

“我们与Heartwood Partners的合作标志着Norlee增长历程中一个令人兴奋的新篇章，”Norlee首席执行官Wally Budgell表示。“自成立以来，我们一直致力于在东南部美国建立一个一流的综合服务平台。Heartwood的投资理念与我们的愿景完美契合——他们理解在保持卓越运营的同时提供加速我们扩展所需的战略资源和资本的价值。”

The successful completion of three acquisitions in less than a year following our partnership demonstrates the strength of this partnership.'.

“在我们合作不到一年的时间里，成功完成了三笔收购，这证明了我们合作关系的实力。”

Heartwood Partners: Heartwood Partners, a middle market private equity firm founded in 1982, is differentiated by a unique lower-leverage, current cash yield approach designed to create partnership with continuing management. Our approach combines a conservative capital structure with strategic execution to support long-term growth, including organic and acquisition-driven expansion into new products, services, and end markets.

心木合伙人：心木合伙人是一家成立于1982年的中型市场私募股权公司，以其独特的低杠杆、当前现金收益方法而与众不同，旨在与持续经营的管理层建立合作关系。我们的方法结合了保守的资本结构与战略执行，以支持长期增长，包括通过有机增长和收购驱动扩展到新产品、服务和终端市场。

In addition, we support each management team with our in-house Value Creation team who provide deep, subject-matter experience in strategic areas such as eCommerce and digital marketing, human capital and organizational design, IT improvement, and acquisition integration. We currently manage over $1.3 billion (as of 12/31/24) in investments and commitments, and our principals have invested in more than 100 platform and add-on acquisitions.

此外，我们通过内部的价值创造团队为每个管理团队提供支持，该团队在电子商务和数字营销、人力资本和组织设计、IT改进以及收购整合等战略领域提供深入的专业知识。截至目前（2024年12月31日），我们管理的投资和承诺超过13亿美元，并且我们的核心团队已投资了100多项平台和附加收购项目。

Heartwood is currently investing from Heartwood Partners IV, LP, and is focused on founder, family and management-held businesses serving the niche manufacturing, specialty chemicals, food, agriculture, packaging, and industrial & consumer services markets. For additional information about Heartwood, please visit www.heartwoodpartners.com..

心木资本目前正在从其第四只基金Heartwood Partners IV, LP进行投资，专注于为利基制造、特种化学品、食品、农业、包装以及工业和消费品服务市场提供服务的创始人、家族和管理层持股的企业。有关心木资本的更多信息，请访问www.heartwoodpartners.com。

Norlee Group: Headquartered in Jacksonville, Florida, the Norlee Group ('Norlee') is a privately held company that specializes in electrical, mechanical, technology, fire protection, and engineering & design services for clients in the Southeastern U.S.. With a growing portfolio that includes Adkins Electric, Colwill Enterprises, Millennium Electric, Tietjen Technologies, AEC Electrical, Regency Electric and Allstate Electric, Norlee provides expertise to clients in commercial, healthcare, infrastructure, education, government, retail, institutional, multi-family, and hospitality sectors.

诺利集团：总部位于佛罗里达州杰克逊维尔，诺利集团（“Norlee”）是一家私营公司，专注于为美国东南部的客户提供电气、机械、技术、消防以及工程与设计服务。旗下不断扩展的业务组合包括阿德金斯电气、科尔威尔企业、千禧电气、蒂特延科技、AEC电气、摄政电气和全州电气，诺利为商业、医疗、基础设施、教育、政府、零售、机构、多户住宅及酒店业等领域的客户提供专业支持。

Norlee 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. For additional information on Norlee, please visit https://norleegroup.com/..

诺利服务于各类客户，从政府机构、总承包商到房地产开发商、企业以及小型企业，为其提供满足其独特需求的解决方案。有关诺利的更多信息，请访问 https://norleegroup.com/。

Contact:

联系：

Name: Michelle Ryan

姓名：米歇尔·瑞安

Email: mryan@heartwoodpartners.com

电子邮件：mryan@heartwoodpartners.com

Phone: 203-945-0432

电话：203-945-0432