AUSTIN, Texas, Oct. 7, 2026 /PRNewswire/ -- Madison Street Capital and its broker-dealer MSC-BD (MSC), an international investment banking firm, acted as the exclusive financial advisor on the sale of IEM Electric, Inc. to Norlee Group (NLG) a privately held company that specializes in electrical, mechanical, technology, fire protection, and engineering & design services for clients in the Southeastern U.S. Founded in 1992, IEM provides full-scope industrial electrical contracting services supporting manufacturing, processing, and heavy industrial facilities. The company specializes in power distribution, controls, equipment installation, and ongoing electrical support, delivering safe, reliable, and efficient solutions across the full project lifecycle. The transaction was announced by Charles Botchway, CEO of Madison Street Capital, and led by Senior Managing Director Barry Petersen. Terms of the transaction were not disclosed.