Hadrian Secures $360 Million Credit Facility to Expand U.S. Manufacturing Network
Opening of Hadrian’s factory in Cherokee, AL.
Hadrian has closed a $360 million revolving credit facility to finance additional manufacturing infrastructure, machinery and related hardware as the advanced manufacturing company expands production capacity for U.S. defense and aerospace customers.
The financing follows Hadrian’s recently announced $1.37 billion Series D funding round, which valued the company at $7.87 billion. Together, the equity raise and new credit facility provide additional capital for a manufacturing buildout that now spans four facilities totaling just under 3 million square feet, with more sites under development.
Morgan Stanley Senior Funding Inc. served as lead left arranger and bookrunner for the revolving facility. Western Alliance Bank, J.P. Morgan, First Citizens Bank, Customers Bank, HSBC Ventures USA Inc., Axos Bank and Texas Capital Securities also served as joint lead arrangers and bookrunners.
Hadrian plans to use the credit facility to continue investing in the physical infrastructure required to scale its manufacturing model. Unlike funding directed primarily toward software development or corporate expansion, the facility is intended to support capital-intensive assets including production equipment and factory hardware.
That capacity is central to Hadrian’s strategy of building highly automated U.S. factories that combine process engineering, artificial intelligence and robotics. The company is targeting defense and aerospace manufacturing, where scaling production requires not only factory space but also specialized machinery, production systems and repeatable processes capable of meeting customer requirements.
“This facility’s closing represents a key next step in Hadrian’s growth trajectory,” founder and CEO Chris Power said. He added that the financing will support the company’s efforts to build additional U.S. industrial capacity and create manufacturing jobs.
Hadrian currently operates two facilities in Torrance, California, along with newly launched sites in Arizona and Alabama. Its four facilities collectively cover just under 3 million square feet, and the company has additional locations in development across the country.
The geographic expansion reflects the infrastructure requirements behind Hadrian’s effort to increase domestic production for space and defense programs. Building a larger manufacturing network requires coordinating factory construction, machinery installation, automation systems and production ramp-up while maintaining consistent processes across sites.
Hadrian’s model is designed to use automation to address those execution challenges. The company combines robotics and AI with manufacturing process engineering, seeking to increase production capacity while giving workers tools to manage more automated factory workflows.
The $360 million revolving structure also provides a different source of capital from Hadrian’s Series D equity financing. A revolving credit facility can give a company access to capital as spending requirements emerge, providing flexibility as equipment purchases and factory investments progress across multiple locations.
The new financing arrives one week after Hadrian announced the $1.37 billion Series D. The company did not provide a breakdown of how the equity financing and revolving facility will be allocated among individual factories or equipment programs.
Hadrian’s expansion is focused on the manufacturing infrastructure behind defense and aerospace supply chains, where increasing output can involve significant capital spending before additional production comes online. Factory footprints must be developed and equipped, manufacturing processes validated and capacity coordinated with customer programs.
The company ultimately aims to enable space and defense manufacturers to produce complete programs at greater scale in the United States. Its growing network of factories provides the physical foundation for that strategy, while automation is intended to improve how production capacity can be deployed and replicated across facilities.
Kirkland & Ellis served as legal counsel to Hadrian on the revolving credit transaction.
With its latest debt facility and Series D financing completed in close succession, Hadrian has added substantial capital for the next stage of its U.S. factory buildout, shifting the focus toward deploying machinery, commissioning infrastructure and translating its expanded footprint into production capacity for aerospace and defense customers.
Amit Kavrie, Managing Director, Supreme Group
