We are pleased to announce the sale of our client, Millennium Enterprises Unlimited, Inc., to The Norlee Group. The acquisition closed July 16, 2021.
Located in Orlando, Florida, Millennium Enterprises Unlimited (Millennium) is a licensed electrical contractor primarily engaged in installing and servicing electrical wiring and equipment. The company serves commercial, industrial and residential clients throughout Orlando, Florida, and surrounding areas.
Millennium provides electrical services to medical facilities, offices and warehouses, retail facilities, worship centers, restaurants, and entertainment facilities.
The Norlee Group, located in Danville, California, owns and operates Pacific Power & Systems in Fairfield, California, and Millennium Electric in Orlando, Florida.
They have a strong investment plan to grow the company organically and through acquisition. They typically prefer acquisitions where the seller is looking for a retirement exit strategy and is willing to remain with the company for 2-5 years, depending on the strength of the management team.
Their ideal acquisition target has revenue of $10 million to $50 million and EBITDA of $1 million to $10 million. They will consider smaller opportunities in their current markets. They are actively interested in opportunities in Southcentral/Southeastern United States and California.
Generational Equity Executive Managing Director, M&A-Technology Practice Leader, David Fergusson, and his team led by Managing Director, M&A, Barry DeWitt, with the support of Vice President Mergers & Acquisitions, Alex Mironov, successfully closed the deal. Executive Managing Director Edward Weber established the initial relationship with Millennium.
“Millennium was a great fit for The Norlee Group and the acquisition allows Norlee to establish a footprint in central Florida which was a primary goal for the Company,” said DeWitt.
“It was a pleasure working with both deal teams, especially Gary Trotter at Millennium who brought an incredible amount of positive energy and levity to the process and provided the institutional knowledge needed to get the deal closed.”
If you would like to explore other transactions our associates have supported in this industry, visit our dedicated Engineering, Contracting & Construction M&A Deals page.
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