CapX Partners has closed a $15 million senior term loan facility for Fusion Academy & Learning. Fusion will use the facility to expand into Pennsylvania and Illinois and to add new centers in existing states.
Fusion Academy is an accredited, alternative private school for grades 6 through 12 with 28 centers in six states.
“As our new lender, the CapX team will be true supporters of our vision and growth. They also did a great job completing the entire loan process within an efficient timeframe,” said David Martin, chief financial officer at Fusion Academy.
“CapX was able to work one-on-one with the ownership/management team to customize a debt facility that would allow Fusion to acquire new site locations and efficiently implement its strategy. CapX looks forward to supporting the business as Fusion delivers its customized learning experience to new markets,” said Bryan Rozum, director at CapX Partners.