New Company Will Focus on Production AM Parts for Aerospace & Defense
DAVIE, Fla. - Thursday, July 9th 2015 [ME NewsWire]
(BUSINESS WIRE)--Neff Capital Management LLC, a private equity firm based in Ft. Lauderdale, FL, announced today that it has established a new company to focus on the additive manufacturing (“AM”) of production parts for aerospace and defense original equipment manufacturers (“OEMs”) around the world. Additive manufacturing, also known as 3-D printing, is the process by which a component is fabricated through the successive layering of material at a microscopic level on a build platform.
The company, called Sintavia, LLC, will be headquartered in Davie, FL, and will produce parts based on the exacting quality control standards required by the aerospace and defense industry. In addition to a serial production capability, the company will maintain a state-of-the-art metallurgical and metrology lab. “We are excited to be a part of the coming industrial revolution within the aerospace and defense industry,” said Brian Neff, Managing Partner of Neff Capital Management. “Over the next few years, as more and more production is shifted to additive manufacturing within this industry, serial manufacturers with exceptional quality control, like Sintavia, will be in high demand by the OEMs.”
Neff Capital’s funding of Sintavia includes a $10 million initial capital investment, to be rolled out in the coming 24 months as the company grows and develops its capabilities. In addition to three SLM Solutions SLM 280HL dual-laser systems for metal part production, the company has to date acquired an ATOS Triple Scan blue light scanner, a Hitachi S-3400N-II Scanning Electron Microscope, and an Ametek SPECTROMAXx F Optical Emission Spectroscopy analyzer. “In our metallurgical and metrology lab, we will be able to perform a large number of tests to ensure the quality control of our production, including hardness, fatigue, impact, temperature, and tensile testing,” said Doug Hedges, General Manager of Sintavia.
A recent study funded by the U.S. Department of Energy Advanced Manufacturing Office demonstrated that aircraft weight can be reduced by 7% by replacing conventional means of manufacturing with additive manufacturing — an astonishing number for an industry where most weight efficiency improvements are one or two percentage points. “Within 20 years, there will be a seismic shift in how we manufacture for the aerospace and defense industry. However, producers who do not understand or are incapable of producing parts with repetitive quality will not play a role in the OEM supply chain,” added Mr. Neff.
In addition to Sintavia, Neff Capital Management’s portfolio companies include CTS Engines, LLC, CTS Testing, LLC, and Apogee Investment Partners LLC, a real estate holding company.
Neff Capital Management LLC
Elizabeth Chedester, +1 954-889-0640