AFM Capital Acquires Incodema3D to Expand Additive Manufacturing Platform

The acquisition will allow Incodema3D to accelerate growth and expand production capabilities.

Published on Mar. 5, 2026

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AFM Capital Partners Inc., a private investment firm, has acquired a majority ownership interest in Incodema3D Holdings, Inc., a leading contract manufacturer specializing in metal additive manufacturing for mission-critical applications across Defense, Aerospace, Space, Energy, and Industrial markets. Incodema3D will continue to operate under its existing name, and CEO Sean Whittaker and the senior leadership team will retain significant equity ownership and continue to lead the business in partnership with AFM Capital.

Why it matters

The acquisition of Incodema3D by AFM Capital represents a significant investment in the growing additive manufacturing industry, particularly in the production of high-performance metal components for critical applications. This deal highlights the increasing demand for advanced manufacturing capabilities that can deliver complex, customized parts with enhanced performance and reduced lead times.

The details

Incodema3D is one of the largest independent metal additive manufacturing companies in North America, operating a 60,000-square-foot advanced manufacturing facility with one of the largest fleets of industrial metal 3D printers in the region. The company's capabilities include Direct Metal Laser Sintering (DMLS) technologies, hybrid manufacturing processes, multi-axis CNC machining, and robust quality assurance. The acquisition will allow Incodema3D to accelerate its growth, expand production capabilities, and continue investing in advanced additive technologies.

  • AFM Capital announced the acquisition on March 5, 2026.

The players

AFM Capital Partners Inc.

An operationally driven private investment firm focused on control investments in middle-market companies.

Incodema3D Holdings, Inc.

A leading contract manufacturer specializing in metal additive manufacturing for mission-critical applications across Defense, Aerospace, Space, Energy, and Industrial markets.

Sean Whittaker

The Founder, President, and CEO of Incodema3D, who will continue to lead the business in partnership with AFM Capital.

Mark McTigue

The President and Founding Partner of AFM Capital.

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What they’re saying

“We are excited to partner with AFM Capital. 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.”

— Sean Whittaker, Founder, President & CEO of Incodema3D

“Incodema3D represents exactly the type of advanced industrial platform we seek to build at 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.”

— Mark McTigue, President & Founding Partner of AFM Capital

What’s next

The acquisition is expected to allow Incodema3D to accelerate its growth, expand production capabilities, and continue investing in advanced additive technologies to meet the increasing demand for high-performance metal components across mission-critical industries.

The takeaway

This acquisition highlights the growing importance of additive manufacturing in the production of complex, customized parts for critical applications, as well as the increasing demand for advanced manufacturing capabilities that can deliver enhanced performance and reduced lead times.