You can combine and split objects at runtime without effecting fps.
The most Important Bundling feature will let you group combined GameObjects by vertices count.
Features:
• Unity 5 support
• SkinnedRenderer support
• Mesh Bundling (Limit number of vertices per mesh)
• Submeshes support
• Lightmapping support
• SkinnedRenderer support
• Combine at Start or Runtime Support
• Very Low Impact on Framerate
• Tested on Android IOS OSX Linux WIndows
• Multithreaded Structure
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• Does not require unity pro.
• Requires License Per Seat