AFM Capital acquires majority stake in Incodema3D
Private equity firm targets defense and aerospace demand with investment in New York-based contract manufacturer, to grow metal AM platform
AFM Capital Partners Inc., an Indianapolis-based private investment firm, has acquired a majority ownership interest in Incodema3D LLC, one of the largest metal 3D printing service providers in the US.
Incodema3D was founded in 2014 and operates a 60,000-square-foot advanced manufacturing facility out of its HQ in Ithaca, New York, which houses one of the largest fleets of industrial metal 3D printers in North America. The company specializes in metal additive manufacturing for defense, aerospace, space, energy, and industrial applications and holds several industry certifications.
Incodema3D’s capabilities are built around Direct Metal Laser Sintering (DMLS) technologies and hybrid manufacturing processes that combine additive production with precision CNC machining, post-processing, heat treatment, and in-house quality assurance.
Founder, President, and CEO Sean Whittaker and the senior leadership team have retained significant equity as part of the transaction and will continue to lead the business.
“AFM Capital brings operational expertise and strategic resources that will allow us to accelerate our growth, expand production capabilities, and continue investing in advanced additive technologies,” stated Whittaker.
“Together, we are well-positioned to meet the increasing demand for high-performance metal components across mission-critical defense, aerospace, space, energy, and industrial markets. I would also like to express my appreciation to our early-stage investors for their support in helping establish our organization as a strong and trusted enterprise.”
Since its founding, Incodema3D has evolved from a prototyping operation into a production platform, serving applications that require tight tolerances and complex geometries that traditional manufacturing processes cannot efficiently replicate.
“Incodema3D represents exactly the type of advanced industrial platform we seek to build at AFM Capital,” said Mark McTigue, President and Founding Partner of AFM Capital. “The Company has established itself as a trusted partner to leading customers by delivering highly engineered metal components at production scale.
“We look forward to working closely with Sean and the Incodema3D team to invest in capacity and large-format additive technologies, while expanding the Company’s manufacturing footprint to support long-term customer programs.”
