Norsk Titanium Announces Close of $25 Million Funding Round to Expand Aerospace Titanium Additive Manufacturing Operations

Norsk Titanium AS, an Oslo, Norway-based supplier of aerospace-grade, additive manufactured, structural titanium components today announced the successful close of its Q2 2016 funding round.

The money comes as $15 Million in Equity and a $10 Million Growth Debt Facility in a financing effort led by Piper Jaffray Companies.

Minneapolis-based investment bank Piper Jaffray led the round for Norsk Titanium to secure investment from institutional and strategic investors to provide financing for a rapidly expanding customer base, aerospace production part qualification programs, a U.S. expansion into New York State and key additions to the leadership team.

Highlights of the Q2 funding round include:

$10 million equity investment from Insight Equity Holdings LLC, a mid-market private equity firm
$10 million growth debt facility from Harbert European Growth Capital Fund I (HEGCF)
$5 million equity investment from a number of smaller investors

John Andersen, Jr., Chairman of the Board of Directors of Norsk Titanium:

“We are delighted to announce the successful close of this round of funding. The Board of Norsk Titanium believes our current industrial-scale expansion strategy in the U.S. will create significant shareholder value and service the needs of our American aerospace and defense customers.”

The $25 million funding round follows the inclusion in the 2016 New York State budget of $125 million to support the development of Norsk Titanium’s Plattsburgh, New York factory, which is part of Norsk’s proposed $1 billion, 10-year project in the state.