Fusion Capital Partners Acquires AQUALIS to Expand Water Management Services

Fusion Capital Partners, a Los Angeles-based private equity firm specializing in engineered products and essential industrial services, has acquired AQUALIS, a premier provider of sustainable water management, engineering, and compliance services. The transaction, announced on April 27, 2026, was completed with undisclosed financial terms. This marks Fusion’s first platform acquisition of 2026 and its fourth overall investment platform.

Headquartered in Morrisville, North Carolina, AQUALIS has operated since 2001, delivering stormwater and wastewater management solutions to over 1,750 commercial, industrial, and municipal clients across the United States. The company offers a comprehensive suite of services spanning the full lifecycle of water assets, including engineering, design, testing, permitting, compliance support, inspections, preventative maintenance, repairs, infrastructure rehabilitation, and emergency response.

Richard Matero, CEO of AQUALIS, expressed enthusiasm about the partnership, stating, “Fusion’s industry knowledge and partnership-oriented approach will be invaluable as we accelerate our growth trajectory and enhance value for our customers.” He also acknowledged DFW Capital Partners for their support during AQUALIS’s development.

Winston Dumont-Aubrey, Senior Associate at Fusion, highlighted the strategic fit, noting, “AQUALIS’s strong market position and experienced management team align perfectly with our portfolio. We look forward to collaborating closely to execute a value creation roadmap that builds on their solid foundation.” Jeff Chaney, Principal and Co-Founder of Fusion, emphasized the growing importance of water infrastructure, saying, “Stormwater and wastewater management are critical amid aging assets, regulatory pressures, and climate volatility. AQUALIS is well-positioned to meet these challenges, and our expertise will help accelerate their growth as a leading middle-market platform.”

Fusion Capital Partners has a track record of investing in industrial companies with engineered products and services. Prior to acquiring AQUALIS, Fusion completed three platform investments: Excel Engineering, a North American testing services provider for mobility and industrial applications; Relevant Solutions, specializing in industrial equipment and flow control; and Tavoron, a factory automation components and systems leader.

The acquisition is expected to generate synergies through cross-selling engineered water management solutions to Fusion’s existing industrial client base and expanding service offerings to municipal and commercial customers. Operational efficiencies are anticipated by consolidating back-office functions and leveraging Fusion’s procurement scale to reduce costs. Additionally, integrating compliance and regulatory expertise aims to enhance service delivery and streamline project management.

Advisors on the transaction included Baird and Stifel as financial advisors, Paul Hastings LLP as legal counsel, and Jefferies Private Fund Advisory. AQUALIS will continue to operate from its Morrisville headquarters under its current management team.

Industry experts note that this acquisition strengthens Fusion’s position in the sustainable water management sector amid increasing market consolidation. Competitors may respond with similar platform acquisitions and investments in technology and compliance capabilities to maintain competitiveness.

Looking ahead, Fusion plans to leverage its industrial sector expertise to scale AQUALIS’s service footprint, pursue bolt-on acquisitions, and drive operational excellence. The integration process will focus on aligning corporate cultures and maintaining service quality to ensure customer retention during the transition.