Lower middle market private equity firm

Fusion Capital Partners

  • HeadquartersLos Angeles, CA S7
  • Founded2024 S6
  • Websitefcpartners.com
  • Last verifiedOctober 29, 2026

At a glance

EBITDA range$10M to $30M S2
Deal typesPlatform, Add-on S2
GeographyNorth America S2
SectorsEnvironmental & Waste, Distribution, Industrial & Manufacturing

What Fusion Capital Partners buys

Fusion Capital Partners is a Los Angeles private equity firm launched in 2024 by six investors who had already worked together for about a decade. It buys companies that make engineered products or provide essential services to industrial and commercial customers in North America. Its five current companies cover industrial automation distribution (Tavoron and Relevant Solutions), engine and battery testing (Excel Engineering), stormwater and wastewater services (AQUALIS) and electrical power system studies (Pioneer Power Group).

For a new platform, Fusion looks for roughly $10 million to $30 million of EBITDA and takes majority control, though it says it can be flexible on structure. It favors fragmented markets where it can keep buying, and it has moved quickly: Tavoron alone has made six add-ons since mid-2025. Fusion will consider add-ons of any size, so a smaller company is most likely to meet the firm by selling to one of its existing platforms.

Recent deals

Announced in the 24 months before October 29, 2026.

DateCompanyTypeSectorSource
Oct 2026Full Circle Environmental ServicesGarner, North Carolina septic installation, repair and inspection company added to AQUALIS; first add-on since Fusion bought the platformAdd-onEnvironmental & WasteSource
Sep 2026Pioneer Power GroupRockville, Maryland provider of electrical power system studies, inspection and testing; Fusion's fifth platform, with current management staying onPlatformSource
Sep 2026Power MotionSt. Louis area automation, robotics and machine vision integrator added to Tavoron, its sixth add-on under FusionAdd-onDistributionSource
Sep 2026Conrad Kacsik Instrument SystemsSolon, Ohio thermal processing controls, testing and calibration firm added to Relevant SolutionsAdd-onSource
Jul 2026FluidraulicsAutomation component distributor serving Pennsylvania and Ohio since 1967, added to TavoronAdd-onDistributionSource
May 2026Automation WerxIdaho Falls controls and systems integration firm serving water, wastewater and dairy customers, added to Relevant SolutionsAdd-onSource
Apr 2026AQUALISStormwater, wastewater and water quality services company bought from DFW Capital Partners; Fusion's fourth platformPlatformEnvironmental & WasteSource
Feb 2026Doig CorporationCedarburg, Wisconsin factory automation distributor founded in 1956, added to TavoronAdd-onDistributionSource
Feb 2026DP Technologies Group and DP Brown of SaginawSaginaw, Michigan motion control businesses dating to 1894, added to TavoronAdd-onDistributionSource
Jan 2026Seltrol and B.W. ClarkGreenville, South Carolina factory automation distributor added to TavoronAdd-onDistributionSource
Jan 2026Excel EngineeringEngine, powertrain and battery testing firm founded in 2002 by its current CEOPlatformSource
Jun 2025Arkansas Industrial MachineryCompressor and pump distributor and service shop, Tavoron's first add-onAdd-onDistributionSource
May 2025Relevant IndustrialHouston industrial equipment and flow control provider bought from LKCM Headwater, which stayed as a minority ownerPlatformDistributionSource
Jan 2025TavoronEagan, Minnesota automation components, robotics and compressed air company; Fusion's first investmentPlatformDistributionSource

Portfolio by sector

From the firm's portfolio page S4.

Essential Services / Industrial Automation

  • Relevant Solutions
  • Tavoron

Essential Services / Power Services

  • Pioneer Power Group

Essential Services / Testing

  • Excel Engineering

Essential Services / Water Services

  • AQUALIS

Greymont’s take

How Fusion Capital Partners fits a seller

Fusion suits owners of industrial service, testing, water and stormwater, or automation distribution businesses who want a buyer that keeps adding companies around theirs. Nine of its 14 announced deals since January 2025 were add-ons to its platforms, and sellers have included long-running family companies such as DP Technologies Group, founded in 1894, which joined Tavoron in February 2026. In its platform deals Fusion has kept the existing management team and headquarters, and two of its platforms, AQUALIS and Relevant, came from other private equity owners.

The firm is young and all five platforms sit in its first fund, so an owner should ask how much capital remains for add-ons and how long Fusion expects to hold the platform before selling it. Septic, stormwater and wastewater owners in the Southeast should note that AQUALIS began buying septic businesses in October 2026.

Questions owners ask

Does Fusion Capital Partners buy environmental or water services companies?

Yes. In April 2026 it bought AQUALIS, a Morrisville, North Carolina provider of stormwater, wastewater and water quality testing services, from DFW Capital Partners. In October 2026 AQUALIS added Full Circle Environmental Services, a septic company in Garner, North Carolina that also serves homeowners associations.

What size company does Fusion look for?

For a new platform it looks for about $10 million to $30 million of EBITDA and a majority control position. It will consider strategic add-ons of any size for its existing companies, and nine of its announced deals since 2025 have been add-ons.

Does management stay after Fusion invests?

In its Tavoron, Relevant and Pioneer Power Group announcements, Fusion said each company would keep its current management team and headquarters. The firm describes management teams as partners and says it structures deals so that owners and managers share in the results.

How long has Fusion been investing?

The firm launched in 2024 and closed its first deal, Tavoron, in January 2025. Its six founders had worked together for years before that, and the site credits the team with 23 platform investments and more than 125 add-ons across their careers.

Sources

  1. S1Fusion Capital Partners home page Accessed October 29, 2026
  2. S2Fusion Capital Partners: Focus Areas Accessed October 29, 2026
  3. S3Fusion Capital Partners: Our Approach Accessed October 29, 2026
  4. S4Fusion Capital Partners: Portfolio Accessed October 29, 2026
  5. S5Fusion Capital Partners: News Accessed October 29, 2026
  6. S6Fusion Capital Partners Acquires Tavoron (January 24, 2025) Accessed October 29, 2026
  7. S7Fusion Capital Partners Announces Partnership with Pioneer Power Group (September 30, 2026) Accessed October 29, 2026
  8. S8Fusion Capital Partners Acquires AQUALIS from DFW Capital Partners (April 27, 2026) Accessed October 29, 2026
  9. S9AQUALIS Acquires Full Circle Environmental Services (October 1, 2026) Accessed October 29, 2026
  10. S10Fusion Capital Partners: Team Accessed October 29, 2026
  11. S11Fusion Capital Partners portfolio: AQUALIS Accessed October 29, 2026

Compiled by Greymont Advisors from public sources, including the firm’s own website and press releases. Greymont is not affiliated with Fusion Capital Partners. Figures are as reported on the dates shown and may have changed. Request a correction

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