Madison Street Capital Facilitates Sale of IEM Electric to Norlee Group

AUSTIN, Texas, Oct. 7, 2026 /CourierPR/ -- Madison Street Capital, an international investment banking firm, has announced that it successfully facilitated the sale of IEM Electric, Inc., to Norlee Group, a privately held company specializing in electrical, mechanical, and engineering services in the Southeastern United States.

IEM Electric, Inc., founded in 1992, has established itself as a leading industrial electrical contracting firm, providing full-scope industrial electrical contracting services to manufacturing, processing, and heavy industrial facilities. The company is known for its expertise in power distribution, controls, equipment installation, and ongoing electrical support, ensuring safe, reliable, and efficient solutions throughout the project lifecycle.

Paul Brooks, Jr., and Tony Mikeal, the owners of IEM Electric, Inc., expressed satisfaction with the outcome.

Madison Street Capital, with its expertise in mergers and acquisitions, has been committed to delivering corporate financial advisory services, sell-side representation, financial opinions, and valuation services to publicly and privately held businesses. The firm's dedication to integrity, excellence, leadership, and service has positioned it as a trusted advisor in the global marketplace.

Norlee Group, headquartered in Jacksonville, Florida, specializes in electrical, mechanical, technology, fire protection, and engineering & design services for clients in the Southeastern United States. The company serves a diverse range of clients, including government entities, general contractors, property developers, corporations, and small businesses, delivering tailored solutions to meet their unique needs.

Founded in 1992, IEM has built a strong reputation for its technical expertise, reliability, and commitment to customized, client-specific solutions. The transaction was led by Barry Petersen and his team at Madison Street Capital, who worked diligently to secure the best possible outcome for IEM and its owners.

The terms of the transaction were not disclosed, but the sale marks a significant milestone for both IEM and Norlee Group. The integration of IEM's capabilities into Norlee Group's existing services will likely enhance the company's ability to provide comprehensive solutions to its clients in the Southeastern United States.

Madison Street Capital's role as exclusive financial advisor in this transaction underscores its commitment to delivering exceptional results for its clients. The firm's experience and expertise have been instrumental in facilitating this successful sale, ensuring that IEM's legacy and future success are secured within the Norlee Group.