Miami, Florida (November 5, 2024) – White Wolf Capital (“White Wolf”) is pleased to announce its successful exit from The Norlee Group (“NLG”) through a sale to Heartwood Partners, marking the beginning of an exciting new chapter for NLG.

This transaction concludes a productive partnership between White Wolf Capital and NLG’s management team, which began in July 2021. Throughout this collaboration, White Wolf worked closely with NLG to drive growth, expand its service offerings, and enhance operational efficiencies. The details of the transaction were not disclosed.

Elie P. Azar, Founder and CEO of White Wolf, commented, “We wish Wally and the NLG team continued success as they embark on this new journey with Heartland. It has been a privilege to work alongside NLG’s team, and while we’ll miss our partnership, we are confident that Heartwood will support NLG in reaching new heights.”

Wally Budgell, CEO of NLG, shared his appreciation for the partnership, stating, “Our time with White Wolf has been transformative. Their support has been instrumental in navigating challenges and celebrating milestones, and they have undoubtedly contributed to our success. We’re enthusiastic about this new opportunity with Heartland and look forward to enhancing our services for our clients.”

About The Norlee Group

The Norlee Group (NLG) is a privately held company headquartered in Jacksonville, Florida, specializing in electrical and specialty services for a wide range of projects across the United States. With a diverse portfolio that includes companies such as Adkins Electric, Colwill Enterprises, Millennium Electric, Tietjen CET Technologies, and Pacific Power & Systems, NLG provides expertise to clients in sectors such as public works, industrial, commercial, underground, multi-family, and technology. NLG 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.

About White Wolf Capital Group

White Wolf Capital Group is a diversified investment management firm that provides investors with access to both private and public strategies.

White Wolf’s private capital strategies include private equity, private credit, and private funds.

In general, White Wolf Capital Group seeks private equity and private credit investment opportunities in companies with $20 million to $200 million in revenues and up to $20 million in EBITDA. Typical situations include management buyouts, leveraged buyouts, recapitalizations, and investments for growth. Preferred industries include manufacturing, business services, government services, information technology, security, aerospace, and defense. White Wolf’s private funds’ strategy involves investing with other private fund managers as a limited or financing partner. Targeted investment candidates are North American-focused private credit funds looking to raise $50 million to $500 million, with a focus on the lower-middle and middle-market.

White Wolf’s publicly traded strategy provides investors with exposure to liquid alternatives through an actively managed exchange-traded fund (ETF). This fund enables investors to access publicly traded private equity and private credit. The publicly traded fund offers additional liquidity options in the public market while providing opportunities for both current income yield and long-term capital appreciation.

For further information, please visit https://www.whitewolfcapital.com.

White Wolf’s office locations include Miami, Chicago, Montreal, and New York City.

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