Fusion Capital Partners, a private investment firm focused on engineered products and essential services in the industrial sector, has announced the acquisition of AQUALIS from DFW Capital Partners, LLC. The financial terms of the transaction have not been disclosed.
AQUALIS, headquartered in Morrisville, North Carolina, was founded in 2001 and specialises in stormwater and wastewater management. The company reports more than 25 years of experience and a customer base of over 1,750 commercial, industrial, and municipal clients across the United States. Its services span the full lifecycle of water assets, including engineering, design, testing, permitting, and compliance support, as well as inspections, preventative maintenance, repairs, infrastructure rehabilitation, and emergency response. The company's stated focus areas include improving water quality, preventing flooding, and managing runoff, stormwater infrastructure, wastewater systems, and water quality testing.
AQUALIS, headquartered in Morrisville, North Carolina, was founded in 2001 and specialises in stormwater and wastewater management
“We are thrilled to welcome Fusion as our strategic partner,” said Richard Matero, CEO of AQUALIS. “Fusion’s industry knowledge, partnership-oriented approach, and tangible experience pursuing transformational growth with similar businesses were compelling for my team and me and will be invaluable as we strengthen our value to customers and accelerate our growth trajectory. I would also like to thank DFW for their strong support over the years, which has been instrumental to our success. I am excited about our future, and our entire team is looking forward to our next chapter.”
“AQUALIS epitomises the calibre of company that we strive to partner with,” said Winston Dumont-Aubrey, Senior Associate at Fusion. “Their strong market position and experienced management team, coupled with their suite of solutions and differentiated value proposition, make them an ideal fit for our portfolio. We are looking forward to collaborating with the AQUALIS team as we execute a value creation roadmap that will build upon their strong foundation and drive continued success.”
AQUALIS will continue to operate from its Morrisville headquarters under its existing management team.
The acquisition is Fusion's first platform investment of 2026 and its fourth platform investment overall. In late 2025, Fusion acquired Excel Engineering, a North American provider of testing services for engines, powertrains, generators, battery systems, and fuel types serving mobility and industrial applications.
