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New York firm buys majority stake in for-profit Grand Rapids education group

GRAND RAPIDS, MI – The New York-based private equity firm, Leed Equity Partners, has bought a stake in the growing Grand Rapids education company, Fusion Education Group.

Terms of the transaction were not disclosed.

“Fusion has pioneered a unique and highly effective educational model that is only now becoming available to families and their children as the Company opens more and more schools across the country,” said Carter Harned, managing director of Leeds Equity Partners, in a statement.

The for-profit education provider operates 43 schools in 8 states and Washington, DC, with more than 4,000 students in grades 6 through 12.

Fusion has found success providing one-on-one education. The model is designed to tailor education to a student’s specific learning style.

The school tends to serve students who struggle being in a classroom because of anxiety, depression or ADHD. It also draws students with non-traditional daily schedules, such as elite athletes and entertainers.

The entire management team, including CEO Peter Ruppert, will remain with Fusion following the transaction.

Headquartered in downtown Grand Rapids at 72 Monroe Center NW,  Fusion operates 43 campuses in California, Connecticut, Illinois, Maryland New York, New Jersey, Texas, Virginia and Washington DC.

Leeds’ investment will provide the capital to fund Fusion’s next stage of growth.

“Leeds Equity has unmatched sector experience, an excellent track record and a far-reaching network that will greatly benefit Fusion as we continue to pursue our vision of building the leading national network of private schools that deliver best-in-class education through our one student-one teacher approach,” Ruppert said in a statement.

Leeds Equity invested out of Leeds Equity Partners VI, LP.  Fusion is the third platform company in that fund’s portfolio. The firm  was founded by Jeffrey T. Leeds and Robert A. Bernstein in 1993 and has raised and managed more than $1.5 billion of capital across six funds.