Workforce-focused private equity and growth investment firm
FoW Partners
Formerly Two Sigma Impact
- HeadquartersPortland, ME S1
- Founded2024 S3
- Websitefowpartners.com
- Last verifiedNovember 6, 2026
At a glance
| Latest fund | Impact Fund (raised as Two Sigma Impact, including managed co-investments), $677M (Apr 2023) S4 |
|---|---|
| Deal types | Platform, Add-on, Minority, Growth S1 |
| Sectors | Healthcare Services, HVAC, Plumbing & Electrical, Education, Software & SaaS |
What FoW Partners buys
FoW Partners is a Portland, Maine investment firm built on one idea: service companies do better when they invest in their workers and use technology well. Its private equity side builds and buys people-heavy businesses in healthcare and consumer services. A separate sleeve, Future of Work Tech, makes growth and venture investments in workforce software. The team operated as Two Sigma Impact until April 2024, when its principals left Two Sigma and set up as an independent firm. Its first fund drew $677 million of commitments, a figure that includes co-investments.
FoW publishes no revenue, EBITDA or check size range. It has acquired companies such as Eclipse Advantage and Circle of Care, shared a majority purchase of Community Medical Services with FFL Partners, and taken a minority stake in Milestone Technologies beside Halifax. A smaller owner is most likely to meet FoW through ResiXperts, the HVAC, plumbing and electrical platform it formed, which reached 17 acquisitions by June 2026. ResiXperts wants mainly residential companies with revenue growth of 5% or more and profit margins of at least 10%.
Recent deals
Announced in the 24 months before November 6, 2026.
| Date | Company | Type | Sector | Source |
|---|---|---|---|---|
| Nov 2026 | West Coast PlumbingSanta Rosa plumbing company bought by Bragg Home Services, a ResiXperts brand; its team moves under the Bragg name | Add-on | HVAC, Plumbing & Electrical | Source |
| Jun 2026 | Simply Cooling, Heating & PlumbingResiXperts' 17th acquisition and its entry into Nevada; about 90 employees in Las Vegas, keeping its brand | Add-on | HVAC, Plumbing & Electrical | Source |
| Apr 2026 | Bragg Home ServicesResiXperts' 16th acquisition; North Bay HVAC and plumbing company dating to 1968, keeping its brand | Add-on | HVAC, Plumbing & Electrical | Source |
| Feb 2026 | Option One PlumbingAdded to ResiXperts; California operations fold into Marathon and Arizona operations into Rescue One Air | Add-on | HVAC, Plumbing & Electrical | Source |
| November 2025 | BenepassTech sleeve, not a buyout: employer benefits software; stake and round not stated | Growth | Software & SaaS | Source |
| Sep 2025 | Handy Plumbing ManFounder-led San Carlos, California plumbing company added to ResiXperts | Add-on | HVAC, Plumbing & Electrical | Source |
| Sep 2025 | Elevated Veterinary SolutionsNew veterinary platform launched with CEO Torie Madore; builds its own general practice hospitals | Platform | Source | |
| Jun 2025 | Temco Air EnvironmentalFounder-led Tucson cooling and heating company added to ResiXperts | Add-on | HVAC, Plumbing & Electrical | Source |
| May 2025 | Crossbridge HospiceHospice provider listed on FoW's portfolio page; size of the stake not stated | Investment | Healthcare Services | Source |
| May 2025 | SkanTech sleeve, not a buyout: AI process intelligence software; stake and round not stated | Growth | Software & SaaS | Source |
| February 2025 | HRBenchTech sleeve, not a buyout: people analytics software; stake and round not stated | Growth | Software & SaaS | Source |
| Jan 2025 | Marathon Plumbing, Heating, & Air and Tokay Heating & AirResiXperts' first California companies, both backed by Sound Partners before the deals | Add-on | HVAC, Plumbing & Electrical | Source |
| December 2024 | WorkhelixTech sleeve, not a buyout: AI planning software for employers; stake and round not stated | Growth | Software & SaaS | Source |
Portfolio by sector
From the firm's portfolio page S2.
Future of Work Tech
- Benepass
- HRBench
- Skan
- Workhelix
Private Equity
- Community Medical Services
- Crossbridge Hospice
- Eclipse Advantage
- Elevated Veterinary Solutions
- Empower Behavioral Health
- Indimade Brands
- Milestone Technologies
- Penn Foster
- ResiXperts
Greymont’s take
How FoW Partners fits a seller
FoW suits owners of people-heavy service companies who care what happens to their team after a sale. For a residential HVAC, plumbing or electrical owner in the Southwest or West, the route in is ResiXperts rather than FoW directly. ResiXperts says it prefers sellers to keep some equity, and it wants under 20% new construction work and technician turnover below the industry norm.
Brands do not always survive. Bragg and Simply kept their names, while Option One was split between two existing brands and West Coast Plumbing's team moved under the Bragg name. Owners should ask which path their company would take, and how long FoW expects to hold ResiXperts before any rolled equity can be sold. Veterinary owners should note that Elevated Veterinary Solutions describes a de novo model, so it may not be a buyer of existing practices.
Questions owners ask
Is FoW Partners the same firm as Two Sigma Impact?
FoW is the new name for that business. Its own site says its principals separated from Two Sigma in April 2024 to form FoW as an independent organization, and that any Two Sigma references on the site are historical.
Does FoW Partners buy HVAC, plumbing and electrical companies?
Yes, through ResiXperts, a platform FoW formed and sponsors. ResiXperts reached 17 acquisitions by June 2026 and operates in Arizona, California, Nevada and Texas. Its brands also buy on their own, as Bragg did with West Coast Plumbing in November 2026.
Does FoW Partners take control of the companies it backs?
Often, but not always. It acquired Eclipse Advantage and Circle of Care, and bought majority ownership of Community Medical Services together with FFL Partners. In Milestone Technologies it took a minority stake while Halifax held control, and its workforce software investments are growth and venture deals.
What does ResiXperts look for in a home services company?
Its site asks for a profitable, mainly residential company with under 20% new construction, revenue growth of 5% or more, profit margins of 10% or more, strong general manager leadership and technician turnover below the industry norm. It also prefers sellers to keep some equity.
Sources
- S1FoW Partners home page Accessed November 6, 2026
- S2FoW Partners: Portfolio Accessed November 6, 2026
- S3FoW Partners: Legal Disclosures and Terms of Use (separation from Two Sigma, April 2024) Accessed November 6, 2026
- S4Two Sigma Impact Successfully Raises Over $675 Million (April 13, 2023) Accessed November 6, 2026
- S5Two Sigma Impact Invests Alongside Halifax in Milestone Technologies (December 13, 2022) Accessed November 6, 2026
- S6Two Sigma Impact and FFL Partners Acquire Majority Ownership of Community Medical Services (December 21, 2021) Accessed November 6, 2026
- S7Two Sigma Impact Partners with Workforce Solutions Leader Eclipse Advantage (October 12, 2021) Accessed November 6, 2026
- S8Two Sigma Impact Partners with Pediatric Therapy Leader Circle of Care (July 12, 2021) Accessed November 6, 2026
- S9FoW Partners' ResiXperts Builds Footprint in Phoenix Metro Area (June 13, 2024) Accessed November 6, 2026
- S10ResiXperts home page (partner criteria, acquisitions list, news) Accessed November 6, 2026
- S11ResiXperts Acquires Simply Cooling, Heating & Plumbing (June 16, 2026) Accessed November 6, 2026
- S12Bragg Home Services Acquires West Coast Plumbing (November 2, 2026) Accessed November 6, 2026
- S13FoW Partners Launches Elevated Veterinary Solutions (September 3, 2025) Accessed November 6, 2026
- S14Elevated Veterinary Solutions: About Us (de novo model) Accessed November 6, 2026
- S15FoW Partners: News & Insights Accessed November 6, 2026
Compiled by Greymont Advisors from public sources, including the firm’s own website and press releases. Greymont is not affiliated with FoW Partners. Figures are as reported on the dates shown and may have changed. Request a correction