The Elmet Group, which makes critical materials and high-power microwave products for aerospace and defense, filed on Monday with the SEC to raise up to $115 million in an initial public offering.
Elmet manufactures precision components and engineered systems using refractory metals such as tungsten, molybdenum, and niobium, along with high-power microwave technologies. Its products are designed for applications that require performance in extreme heat, electromagnetic intensity, and other demanding operating environments, including aerospace, defense, semiconductor equipment, medical devices, industrial systems, and energy infrastructure. The company’s operations span material processing, machining, fabrication, and engineered microwave components, giving it a vertically integrated manufacturing model that supports both custom parts and specialized system-level solutions.
The Portland, ME-based company traces its roots to 1929 and booked $202 million in revenue for the 12 months ended December 31, 2025. It plans to list on the Nasdaq under the symbol ELMT. Cantor Fitzgerald, Needham & Co., Canaccord Genuity, and Roth Capital are the joint bookrunners on the deal.
