Supporting Ability to Invest in Manufacturing Infrastructure

Hadrian secured a $360 million revolving credit facility to expand its network of highly automated U.S. factories and increase production for defense and aerospace customers. The company will use the financing to invest in advanced manufacturing infrastructure, machinery and related equipment. Morgan Stanley Senior Funding led the financing alongside several major financial institutions. The new credit facility follows Hadrian’s $1.37 billion Series D funding round, which valued the company at $7.87 billion. Hadrian plans to use the additional capital to expand domestic manufacturing capacity and create thousands of skilled jobs across the country.

The company recently celebrated the opening of Factory 3 (F3), a large-scale manufacturing and software hub in Mesa.

Hadrian via PR Newswire:

Hadrian, the advanced manufacturing company building highly automated factories for America, today announced the closing of a $360 million revolving credit facility. This facility allows Hadrian to further invest in the advanced manufacturing infrastructure, machinery, and related hardware needed to achieve its production goals.

The financing was arranged by a leading group of financial firms, underscoring strong institutional support for Hadrian’s continued growth. Morgan Stanley Senior Funding Inc. served as Lead Left Arranger and Bookrunner, with additional joint lead arrangers and bookrunners Western Alliance Bank, J. P. Morgan, First Citizens Bank, Customers Bank, HSBC Ventures USA Inc, Axos Bank, and Texas Capital Securities. The additional funds come a week after Hadrian announced its $1.37 billion Series D fundraise, which valued the company at $7.87 billion.

“This facility’s closing represents a key next step in Hadrian’s growth trajectory, and underscores the institutional confidence in our strategic direction,” said Hadrian CEO and Founder Chris Power. “This financing will play a critical role in facilitating Hadrian’s build out of the industrial capacity the United States needs to remain strategically competitive, while creating thousands of high-quality jobs across the country.”

The raise will directly support Hadrian’s continued expansion across its growing network of U.S. factories as the company scales production for defense and aerospace customers.

Kirkland & Ellis was counsel to Hadrian on the transaction.

Sponsor Members

About Hadrian

Hadrian is the factory of the future, transforming the U.S. industrial base by building highly automated factories that supercharge American workers with process engineering, AI, machine learning, and robotics to reindustrialize America and compete head-to-head with China’s industrial base. Its mission is to enable space and defense manufacturers to produce domestically at globally competitive costs, restoring U.S. industrial supremacy and countering China’s manufacturing advantages. Currently, Hadrian operates a 100,000-square-foot factory in Torrance, CA, and is in the process of developing other production sites.