RF Investment Partners, a growth capital investor based in New York and focused on lower-middle market businesses, has partnered with Chicago-based private equity firm Prairie Capital to make the investment.
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The parent company of Norel Service Co., a fire and life safety firm based in Littleton, has received financial support from two large private equity firms.
RF Investment Partners, a growth capital investor based in New York and focused on lower-middle market businesses, has partnered with Chicago-based private equity firm Prairie Capital to invest in NSG-Norel.
RF Investments generally makes investments of $10 to $40 million, according to its website. The firm declined to make the exact amount of the Norel investment available when contacted by WBJ.
The investment will allow NSG-Norel to expand its headcount and geographical range, according to a Feb. 3 press release announcing the investment.
NSG-Norel comprises two separate entities, with Norel Service Co. focused on fire and life safety systems, and NSG Life Safety focused on fire alarm and security system integration with in-house engineering, design, and programming capabilities.
Norel was founded in 1973 and is based in Littleton, while NSG was founded in 2017 and is headquartered in West Bridgewater, according to both firm’s websites.
“This investment reflects RF’s collaborative partnership with Prairie Capital and our shared focus on supporting high-quality businesses,” Patrick Riggio, managing director of RF Investments, said in the press release. "NSG-Norel operates in a mission-critical sector with strong fundamentals, and we are excited to work alongside Prairie and the company's leadership team to support continued growth and long-term value creation."
Eric Casey is the managing editor at Worcester Business Journal, who primarily covers the real estate and banking & finance industries.
