Dipo Olowookere
Leading independent metal additive manufacturing firm, Sintavia, says it has closed a $15 million round of equity financing from its primary investor, Neff Capital Management LLC.
The follow-on investment is in addition to an original $10 million of equity financing by Neff Capital which was announced in July 2015.
It is expected that the new investment will be used for additional manufacturing capacity and facility expansion in 2017 and 2018.
Established in 2012, Sintavia provides a complete suite of metal AM solutions to OEMs in precision industries worldwide.
In particular, the company has built a customer base within the Aerospace & Defense, Oil & Natural Gas, Industrial Turbine, and Automotive industries.
“Over the past two years, Sintavia has grown into a leader in the provision of critical metal AM components,” said Brian R. Neff, Managing Partner of Neff Capital Management.
“Customers who have worked with Sintavia appreciate the sheer breadth of in-house capabilities — in particular with respect to proprietary material processes, such as the recent developments in F357 Aluminum. Doug has assembled a great team of professionals committed to not only the success of Sintavia, but also of the entire metal AM industry,” Neff adds.
Added Doug Hedges, President & COO of Sintavia, “It has been refreshing to work with an investor that shares our company’s vision of the future — and future potential — of metal AM. At every stage, Neff Capital has ensured that we have the resources we need to grow and develop the company’s operations. We are excited about the future!”
Adedapo Adesanya