VulcanForms has agreed to $500 million in financing led by J.P. Morgan and Apollo-managed funds to build three additional US factories, the metal-parts manufacturer announced November 12. The planned additions would double its factory count from three to six, expanding capacity for a business that manufactures customers’ components itself.
VulcanForms designs its own metal 3D-printing systems and keeps them in-house, selling finished parts and production services. Customers can bring engineering designs that it prepares for production, then prints, machines and tests. Its markets include medical devices, aerospace and defense.
The financing follows a $220 million round that closed on January 30, led by Eclipse and 1789 Capital, which also backed factory expansion. The new agreement is more than twice that size, although VulcanForms did not disclose whether it consists of debt, equity or both.
VulcanForms is also working with Specter Aerospace on plans for a dedicated hypersonic-weapons production facility. In their September 15 announcement, the companies said Specter had already used VulcanForms’ printing and engineering in vehicle development. At the time, they were still evaluating potential sites nationwide.