Worcester Business Journal

wbjournal.com | February 9, 2026 | Worcester Business Journal 3 The Future of Rent Collection & Escrow Management ZRent and ZEscrow from Cornerstone Bank. Fast | Efficient | Convenient | Cost-Effective Scan QR code to connect with us. Member FDIC | Member DIF 774-745-8698 cornerstonebank.com Harvard Bioscience to shutter Holliston manufacturing facility Harvard Bioscience, a Hollis- ton-based biotech firm, is set to close its Holliston manufacturing facility in a consolidating move to shi its produc- tion to Minneapolis and expected to save the firm millions of dollars. Harvard Bioscience's Holliston facility will stay open through this year for con- tinuity and customer service purposes, with the consolidation anticipated to be complete by the first quarter of 2027, according to a Jan. 29 press release from the manufacturer. e closure is part of the company's overall strategic consolidation plan, known as Project Viking, which will move certain operations internationally to facilities in Germany, Sweden, and the U.K., according to a Jan. 29 filing with the U.S. Securities and Exchange Commission. e company expects the restructuring charges related to Project Viking to cost $3.4 to $4.4 million, primarily related to the Holliston manufacturing facility closure, according to the SEC filing. WBJ has reached out to Harvard Bioscience to determine if the closure will result in employee layoffs. "Building upon the enhanced flexibil- ity provided by our recent refinancing, this consolidation represents a meaning- ful step forward in simplifying our manu- facturing footprint and strengthening our operating model," John Duke, CEO of Harvard Bioscience, said in the release. Harvard Bioscience expects the con- solidation to save the manufacturer $3 million in 2027 and $4 million in annual cost savings starting in 2028, including through non-cash asset write-off and/ or accelerated depreciation charges, according to the filing. "As we have been able to take a deeper look at the business, concentrating our U.S. manufacturing and relocating certain operations to respective inter- national facilities will better leverage the scale, capabilities, and expertise of our sites. We expect the operational syn- ergies generated by the move to improve execution and increase speed-to-market as we build a more agile organization to drive long-term value creation for customers and shareholders," Duke said in the release. Devens manufacturer raises $220M, including from Trump Jr.'s VC firm VulcanForms, a Devens-based metal manufacturing company, has secured its second-largest funding round to date, raising $220 million to expand the company's manufacturing facilities. "is financing enables us to meet surging demand and expand our role as a critical part- ner to companies rebuilding resilient domestic supply chains," VulcanForms CEO Kevin Kassekert said in a Jan. 30 press release. VulcanForms' latest round of Series D funding will support the firm's mission to consolidate the multi-step metal manufacturing supply chain system with U.S. factories, aiming to reduce cost, waste, and cycle time, according to the release. Additionally, the firm's new capital will go toward research and develop- ment to bolster its materials portfolio and support future growth. e firm's $220 million was raised from five investors, including primary backers 1789 Capital of Florida and Eclipse Ventures of Palo Alto, according to private company financial tracker Crunchbase. "1789 Capital is thrilled to support VulcanForms, a company revitalizing America's industrial strength and sharp- ly reducing our dependence on foreign suppliers," Omeed Malik, president of 1789 Capital, said in the release. "By restoring high-skilled manufacturing jobs to American soil, VulcanForms is helping to drive the next great chapter of American prosperity." Donald Trump Jr. joined 1789 Capital as a partner in November 2024 shortly before his father started his second term as U.S. president. 1789 Capital has a history of investing in conservative businesses, according to CNN, includ- ing investing $15 million in Tucker Carlson Network, the media company of far-right political commentator Tuck- er Carlson. VulcanForms has undergone six rounds of investor funding, according to Crunchbase. e firm's largest round was on July 5, 2022, when it raised $250 million. e company has raised a total of $575 million. "Rebuilding America's industrial capacity requires bold engineering and the ability to manufacture at scale, and VulcanForms has proven it can deliver both," Greg Reichow, partner at Eclipse, said in the release. "eir platform brings production of mission critical components back onshore with un- Energy costs are a major concern Last year saw utility bills soar in Massachusetts. The state experienced the eighth- highest increase in annual electric bill spending of the nation, with an over-the- year increase of 12.4%, according to Kiplinger's analysis of U.S. Joint Economic Committee Minority data. The only other New England state to make the top 10 list was Maine, coming in at #7 with a 12.5% over-the-year increase. When polled online, nearly three-fourths of WBJ readers said rising energy costs are a great concern for their operations. Are rising energy costs a concern for your business? Yes, greatly 72% Yes, slightly 23% Kevin Kassekert, CEO of VulcanForms Briefs continue on next page No 5%

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