PRNewswire/ – Michigan Capital Advisors, a private equity firm focused on the automotive and transportation-related industries, announced today that it has partnered with Material Impact, a Boston.
Based venture capital firm, in a joint investment in Fusion Coolant Systems.
FCS is a patented disruptive technology company that uses supercritical carbon dioxide as a cutting lubricant to the metal machining industry.
MCA’s growth equity investment was strongly supported by existing investors including Michigan Investment in New Technology Startups, Amherst Fund, and Invest Michigan, and will support FCS’s continued growth strategy and pursuit of new opportunities.
The investment in FCS fits in MCA’s technology vertical, one of five industry sectors targeted by the firm.
“Fusion Coolant has truly developed a game-changing technology that addresses an age-old challenge of the machine tooling industry, providing the first cost effective, environmentally friendly cooling and lubrication solution to a wide array of metal cutting and forming applications,” said Chip McClure.
“The addition of the new investment firms Michigan Capital Advisors and Material Impact, with their wealth of experience and profound industry expertise, is confirmation of the company’s progress during the last several years and a testament of its current business strategy and future prospects,” stated Rafael Castilla.