Incodema3D has developed a strong reputation within the defense and aerospace ecosystems for its ability to produce complex, high-performance metal components that cannot be replicated efficiently by traditional manufacturing processes.
INDIANAPOLIS—Private investment firm AFM Capital Partners Inc., reported in March that it acquired a majority ownership interest in Incodema3D Holdings, Inc., a contract manufacturer specializing in metal additive manufacturing for mission-critical applications across defense, aerospace, space, energy, and industrial markets.
AFM Capital Partners describes itself as “an operationally driven private investment firm focused on control investments in middle-market companies.” The Indianapolis-based company said in a release that it partners with management teams to accelerate growth, enhance operational performance, and build enduring value through hands-on support, strategic alignment, and disciplined execution.
Sectors targeted by AFM Capital are reported to include advanced industrials, consumer goods, and business services.
In connection with the transaction, Incodema3D CEO Sean Whittaker and the senior leadership team were reported to have retained significant equity ownership and will continue to lead the business in partnership with AFM Capital. Incodema3D will continue to operate under its existing name, the release stated.
Incodema3D, headquartered near Ithaca, New York, is reportedly one of the largest independent metal additive manufacturing companies in North America. Founded in 2014, the company has evolved from a prototyping-focused operation into a scaled production platform serving high-performance applications that require advanced engineering, tight tolerances, and complex geometries. Today, Incodema3D operates a 60,000-square-foot advanced manufacturing facility that is said to house one of the largest fleets of industrial metal 3D printers in North America, supported by integrated subtractive machining and robust quality assurance capabilities.
The company’s capabilities are anchored by what AFM Capital described as “deep expertise in Direct Metal Laser Sintering (DMLS) technologies and hybrid manufacturing processes.” This expertise enables customers to transition smoothly from design and prototyping to full-rate production, according to the release.
Incodema3D provides vertically integrated services that include metal additive manufacturing (DMLS); design for additive manufacturing (DfAM) engineering support; multi-axis CNC machining and finishing; and post-processing and heat treatment coordination. The company also provides in-house inspection and quality assurance, and full production program management.
“We are excited to partner with AFM Capital,” said Incodema3D Founder, President, and CEO Sean Whittaker, in the release. “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. 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.”
According to the release, Incodema3D has developed a strong reputation within the defense and aerospace ecosystems for its ability to produce complex, high-performance metal components that traditional manufacturing processes cannot efficiently replicate. Its integrated hybrid manufacturing model—combining additive manufacturing with precision machining—is reported to enable the company to deliver production-ready parts with enhanced performance characteristics, part consolidation benefits, and reduced lead times.
“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, in the release. “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.”