Norlee Group Acquires Beaumont Electric Company

NORWALK, Conn., Oct. 14, 2025 /PRNewswire/ -- Heartwood Partners is pleased to announce that Norlee Group has acquired Beaumont Electric Company (BEC), a well-established electrical services firm based in Naples, Florida. The transaction, finalized on September 30, 2025, further strengthens Norlee Group's market presence and reinforces its ongoing strategy to expand capabilities and services across Florida and the broader Southeast region.

Founded in 1979, Beaumont Electric Company has grown into one of Southwest Florida's premier electrical contractors. With more than four decades of experience, BEC is recognized for delivering high-quality electrical services in new construction, renovations, and ongoing maintenance and service work. The company serves both residential and commercial clients throughout the Naples area and beyond.

"We're thrilled to welcome Beaumont Electric Company to the Norlee Group family," said Wally Budgell, CEO of Norlee Group. "Expanding into Naples is more than a geographic move. It's a strategic step into a dynamic, growing region full of opportunity. Beaumont's values align seamlessly with our commitment to innovation, excellence, and community impact. We're excited for what lies ahead in Southwest Florida."

"We are pleased to support Norlee Group with this strategic acquisition," said Demetrios Dounis, Managing Partner, Heartwood Partners. "The acquisition of Beaumont Electric Company will help fuel Norlee Group's vision of establishing the Company as a trusted leader in integrated electrical and mechanical solutions across the Southeastern U.S."

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. 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 12/31/2024) in investments and commitments, and our principals have invested in more than 100 platform and add-on acquisitions. 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.

Norlee Group: Headquartered in Jacksonville, Florida, Norlee Group ("Norlee") is a privately held company that delivers intergrated solutions in electrical, mechanical, low-voltage, design/build engineering, underground infrastructure, and ongoing service and maintenance 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, Allstate Electric and Beaumont Electric, Norlee provides expertise to clients in commercial, educational, healthcare, hospitality, industrial, institutional, manufacturing, multi-family, and residential sectors.

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/.

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SOURCE Heartwood Partners