The Norlee Group
Jacksonville, FL · CEO Wally Budgell
How it operates
Florida-based electrical, mechanical and low-voltage/technology roll-up backed by Heartwood Partners since an October 2024 growth investment (publicly announced June 2025). Norlee's stated goal is to become 'the go-to provider for comprehensive electrical and mechanical solutions throughout the Southeast,' acquiring founder-led firms across fire protection, engineering/design, data cabling, underground infrastructure and energy-efficiency systems alongside core electrical contracting.
Tampa Bay brands (1)
Inter-Bay Electric Company
Deal history in the region
Capital events
Recapitalizations, sponsor changes, debt raises, bankruptcies and exits at the platform level. These set the clock that local brands live on.
- recap — Heartwood Partners publicly announces a growth-capital investment in Norlee Group (investment itself dated October 28, 2024). [source]
Frequently asked
Who owns The Norlee Group?
The Norlee Group is owned by its investors — Heartwood Partners — together with management.
Which Tampa Bay companies does The Norlee Group own?
Does The Norlee Group keep the local brand names?
1 of 1 Tampa Bay brands we track still operate under their original names.
Is The Norlee Group private equity?
Yes — it is a private-equity-backed platform (see the capital chain above).
Sources Reported — credible press
- Heartwood Partners (2025-06-12) — press release. Jacksonville, FL HQ; Heartwood Norwalk, CT HQ; roll-up thesis; brand list (Adkins Electric, Colwill Enterprises, Millennium Electric, Tietjen Technologies plus later AEC Electrical, Regency Electric, Allstate Electric).
- PR Newswire (2025-11-12) — press release. CEO Wally Budgell quote; Inter-Bay Electric acquisition.
Researcher notes: Formed/founding year of Norlee Group itself not confirmed in sources reviewed; only its Heartwood-backed growth phase (from 2024) is documented. Its other named brands (Adkins Electric, Colwill Enterprises/Engineering, Millennium Electric, Tietjen Technologies, AEC Electrical, Regency Electric, Beaumont Electric) are located outside the Tampa Bay MSA/adjacent-county footprint (Jacksonville, Naples, Atlantic Beach, etc.) and are not included as separate company records here.
See something wrong? Request a correction — we publish our corrections log.
Loading comments…