Inter-Bay Electric Company
Electrical · Tampa, Hillsborough County · Founded 1979
About the company
Inter-Bay Electric Company is a Tampa-based commercial electrical contractor performing new construction, site lighting, generator installation, and low-voltage work (security and fire-alarm systems) for public-sector clients including Air Force bases and schools. Founded in 1979, it built a decades-long reputation in the Tampa Bay commercial construction market.
Ownership history
What changed after the sale
No post-sale operational changes (leadership, pricing, brand name) have been reported yet as of the deal's close in November 2025.
Only sourced observations are listed. Customers and employees can add what they saw.
Who really profits
Money paid to Inter-Bay Electric Company now flows to The Norlee Group (Jacksonville, FL), and from there to its investors — Heartwood Partners — whose funds are ultimately owed returns by their limited partners. 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.
Capital events at the platform level: 2025-06-12 recap — Heartwood Partners publicly announces a growth-capital investment in Norlee Group (investment itself dated October 28, 2024)..
Read more: why prices rise after a sale · debt, exits and the 5-year clock.
Frequently asked
Who owns Inter-Bay Electric Company?
Inter-Bay Electric Company is owned by The Norlee Group, a private-equity platform headquartered in Jacksonville, FL, whose capital has come from Heartwood Partners. The sale was announced November 12, 2025.
Is Inter-Bay Electric Company private equity owned?
Yes. Inter-Bay Electric Company is part of The Norlee Group, which is backed by Heartwood Partners. See the buyer profile for the capital structure.
Is Inter-Bay Electric Company locally owned?
Not in the sense most homeowners mean. Control sits with The Norlee Group in Jacksonville, FL, although the local brand name is still used.
When was Inter-Bay Electric Company sold?
November 12, 2025 (announcement date).
Did Inter-Bay Electric Company change its name after the sale?
We have not confirmed either way.
Sources Verified — primary document
- PR Newswire (2025-11-12) — press release. Deal announcement: Tampa, FL location, founded 1979, commercial electrical scope, Norlee CEO and Heartwood managing partner quotes.
- Pulse 2.0 (2025-11-12) — news. Summarizes services (new construction, site lighting, generators, low-voltage/security/fire alarm) and client base.
- PrivSource (2025-11-05) — other. Deal aggregator listing closing date as November 5, 2025.
Researcher notes: Closing date reported as November 5, 2025 by PrivSource, aggregated from the same press release; price and employee count not disclosed.
See something wrong? Request a correction — we publish our corrections log.
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