After operating for a little more than a year, Fusion Capital Partners announced its first acquisition ever: an industrial automation company.
Fusion Capital Partners, a Santa Monica-based private equity firm, finalized its acquisition of Tavoron, a Minnesota-based company that provides automation components, in late January.
Terms of the deal were not disclosed and Fusion declined to be interviewed for this article.
“This transaction is a significant milestone for Tavoron and highlights the value of our advanced automation technology in streamlining production for our customers,” Nicholas Martino, the chief executive of Tavoron, said in a statement.
Tavoron is a parent company made up of a portfolio of subsidiaries that work on all parts of the automation spectrum.
Accu Tech USA, based in North Carolina, provides customizable bits for machines. Automation & Robotics Solutions, based in Iowa, creates custom machine designs and makes custom parts for different automation projects. Illinois-based DevLinks develops programs for robots and Minnesota-based JHFOSTER is a distributor of compressed air systems, robotic and motion control technology and other automation parts.
Fusion Capital Partners was started in January 2024 by a handful of veterans of Odyssey Investment Partners, a private equity firm based in New York.
Fusion is focused on engineered products – parts and appliances that have to be built with specific requirements for specific use cases, rather than mass-produced, commercially available hardware – and essential services.
“We are excited to work alongside Tavoron’s management to help drive the company’s growth into a market leader via a mix of both organic and strategic (merger and acquisition) initiatives,” Jason Cowett, managing partner at Fusion, said in a statement.
“We believe there will continue to be numerous opportunities to expand and invest in cutting-edge technologies to better serve their growing customer base,” he added in a statement.
Tavoron will maintain its headquarters in Minnesota and preserve its current management team.
