Monroe Capital announced it is acting as joint lead arranger on a senior credit facility to support Fusion Capital Partners’ acquisition of Excel Testing and Engineering Holdings LLC. The facility will provide the debt financing needed for Fusion Capital to complete the purchase of Excel, a company that offers emissions, battery, durability, and specialty testing services across the product lifecycle. The acquisition closed on January 6, 2026, and the financing announcement was made on February 17, 2026.
Excel Testing’s services are critical to original equipment manufacturers in the automotive and industrial sectors, helping them navigate evolving regulatory requirements and the transition to electric vehicles. Fusion Capital, a private‑equity sponsor launched in 2024, focuses on control‑oriented investments in engineered products and essential services. The acquisition is Fusion’s third platform investment and aligns with its strategy to build a portfolio of companies that support the shift to advanced battery technologies and sustainable mobility.
For Monroe Capital, the transaction represents a new financing arrangement and a capital deployment that underscores its role as a private‑credit provider. The firm recently closed its 2025 Monroe Capital Private Credit Fund V with $6.1 billion in new investable capital and is in the process of merging with Horizon Technology Finance Corporation, a move that will expand its scale and shareholder value.
"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. Excel's strong leadership team, coupled with their technical expertise and differentiated value proposition makes them an ideal fit for our portfolio." – Jason Cowett, Managing Partner, Fusion Capital
"This transaction represents a critical milestone for Excel as it highlights the value of our platform and comprehensive suite of testing services. 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." – Doug Sobotka, CEO, Excel Engineering
The senior credit facility, while not disclosed in terms of size, is expected to provide the necessary leverage for Fusion Capital to complete the acquisition and support future growth initiatives for Excel Testing.
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