Fusion Capital Partners (“Fusion”), a private investment firm specializing in engineered products and services within the industrial sector, today announced it has acquired Excel Engineering, Inc. (“Excel” or “the Company”), a North American provider of testing services for engine, powertrain, battery systems and fuel types across mobility and industrial applications for blue-chip original equipment manufacturer (“OEM”) customers. Terms of the transaction were not disclosed.

Founded in 2002 by its current CEO, Doug Sobotka, Excel supports customers through emissions, battery, durability, and specialty testing programs across the full product lifecycle—from pre-production validation to in-service compliance and certification. The Company is deeply entrenched within OEM’s engineering and compliance departments and serves as a critical testing partner to ensure products and platforms comply with regulatory requirements and performance specifications.

“We continue to focus on identifying and partnering with best-in-class engineered products and essential services businesses that we believe have the potential to achieve transformational growth,” said Jason Cowett, Managing Partner at Fusion. “Excel’s strong leadership team, coupled with their technical expertise and differentiated value proposition makes them an ideal fit for our portfolio. We believe Excel represents an attractive investment opportunity that aligns with our prior experience in the space, and we are looking forward to collaborating with Doug and the Excel team to execute a value creation roadmap that will enhance enterprise valuation.”

“This transaction represents a critical milestone for Excel as it highlights the value of our platform and comprehensive suite of testing services,” said Doug Sobotka, CEO of Excel Engineering. “In looking for a strategic partner to help us further scale our business over the long-term, the Fusion team clearly differentiated themselves as our partners of choice given their partnership-oriented approach, strategic roadmap for growth and robust industry experience. We are excited about our future.”

Excel will continue to operate from its Diagonal, IA headquarters and remain under the leadership of CEO, Doug Sobotka and its current management team.

Fusion was represented by Jefferies Private Funds Group as an advisor, KPMG Corporate Finance as exclusive financial advisor, and Paul Hastings LLP as legal counsel.

This transaction marks the third platform investment for Fusion, which was launched in 2024. Last May, the firm acquired Relevant Industrial, LLC, a leading provider of industrial equipment and engineered solutions. Earlier in 2025, Fusion announced the acquisition of Tavoron, a leader in industrial automation components, systems and services.

About Fusion Capital Partners

Fusion Capital Partners is a Los Angeles-based private equity firm pursuing control-oriented investments within the industrials sector, targeting a specialized set of business models providing engineered products and services to a defined set of end markets. As a growth and relationship-driven firm, Fusion is focused on building market-leading companies by driving value creation through both organic initiatives and strategic M&A, increasing both the scale and operational excellence of its partner companies. For additional information, please visit www.fcpartners.com.

About Excel Engineering, Inc.

Excel is a full-service testing and certification firm specializing in environmental simulation testing services for on- and off-highway engines and powertrains, power generation units, and mobility and backup power battery systems. Excel was founded in 2002 and is headquartered in Diagonal, IA. For additional information, please visit www.excelengineering.org.

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