Protolabs Explained

Protolabs
Traded As:
S&P 600 Component
Former Name:The ProtoMold Company
Founder:Larry Lukis
Location City:Maple Plain, Minnesota
Location Country:U.S.
Area Served:Global
Key People:Larry Lukis, Brad Cleveland
Robert Bodor
Products:Prototyping and short-run production parts
Revenue:$445.6 million (2018)
Num Employees:2,700 (2019)

Protolabs is a company that provides rapid manufacturing of low-volume 3D printed, CNC-machined, sheet metal, and injection-molded custom parts for prototyping and short-run production.[1] [2] [3] [4] [5] [6] Markets like medical devices, electronics, appliances, automotive and consumer products use these parts.[5] [6] [7] Protolabs' headquarters and manufacturing facilities are located in Maple Plain, Minnesota.[1] [3] [8] [9] The company also has manufacturing facilities in England, Germany, and Japan.[1] [3]

History

Protomold

In 1999, Larry Lukis founded the Protomold Company, Inc., that specialized in the quick-turn manufacture of custom plastic injection molded parts.[2] [5] Protomold was recognized for its small batch molded parts and rush orders.[10] He previously ran ColorSpan, an original equipment manufacturer that produces printers and desktop publishing systems.[2] He was the chief technology officer of Protomold.[2] Later, in 2001, Brad Cleveland joined Protomold as CEO and president.[1] [2] [9] [11]

In 2005, Protomold opened up its first UK plant in Telford, England.[12] Two years later, Protomold introduced the Firstcut quick-turn CNC machining service.[13]

Protolabs

In 2009, the company combined its Protomold and Firstcut services under its corporate name, Proto Labs Inc., known colloquially and in official messaging as Protolabs.[3]

In 2009, Protolabs opened a location in Japan to serve Japanese design engineers.[3] In the same year, Firstcut, a service from Protolabs, made available CNC-machined prototype parts made of aluminum, as well as ABS, nylon, and PEEK.[14]

In February 2012, Protolabs completed its initial public offering of common stock.[15] [16]

In 2013, Protolabs reached $150 million in revenue.[17] In 2014, Protolabs acquired the North Carolina-based 3-D printing company, FineLine Prototyping Inc. In fall 2016, Protolabs' 3D printing services moved to a new 77,000 sq. ft. facility in Cary, North Carolina. The company also opened a plant in Plymouth, Minnesota.[18] [19] [20] [21]

In February 2014, Vicki Holt was named CEO. She was hired to help Protolabs become a billion dollar manufacturing company. Holt is expanding Protolabs into the medical equipment markets and the lighting industry.[10]

In November 2017, Protolabs acquired RAPID Manufacturing in Nashua, New Hampshire for an aggregate purchase price of $120 million to expand into sheet metal fabrication capabilities.[22]

COVID-19 Pandemic

During the 2019–2020 coronavirus pandemic, Protolabs began producing face shields, plastic clips, and components for coronavirus test kits for use in Minnesota hospitals.[23] The company also collaborated with the University of Minnesota to produce parts for a low-cost ventilator.

2021

In January 2021, Protolabs announced an agreement to acquire Amsterdam-based manufacturing platform 3D Hubs for $280 million in cash and stock plus incentives.[24]

In March 2021, Holt plans to retire and will be succeeded as CEO by VP and GM of Americas, Robert Bodor, according to a company announcement.[25]

Cool Idea! Program

In 2011, Protolabs launched the Cool Idea! Award program. The program awards a total of up to $250,000 each year in services to entrepreneurs with innovative product ideas in the United States and Europe.[26] [27] [28]

Awards

Further reading

External links

Notes and References

  1. Web site: Proto Labs Ltd Does with the Queen's Award for the second time. Interempresas. 30 September 2013.
  2. Web site: Fast forward prototyping arrives. Plastics Today. 30 September 2013.
  3. Web site: Rapid Injection Molder's Automated Process Creates Strategic Advantages for Clients. Design-2-Part Magazine. 30 September 2013.
  4. Web site: Proto Labs. PMW Magazine. 30 September 2013.
  5. Web site: The Changing Face of Injection Molding. Medical Design. 30 September 2013.
  6. Web site: Fashion Meets Function with Proto Labs' Latest Cool Idea! Award Winner. Daily Finance. 30 September 2013.
  7. Web site: 3D Technology Will Be "Printing" Money. Money Show. 30 September 2013.
  8. Web site: Women in Business 2013—Jackie Schneider. Minneapolis/St. Paul Business Journal. 30 September 2013.
  9. Web site: Large Manufacturer of the Year: GNP Company. Minnesota Business Magazine. 30 September 2013. https://web.archive.org/web/20131005005110/http://minnesotabusiness.com/article/2012-large-manufacturer-year-gnp-company. 5 October 2013. dead.
  10. How Proto Labs Is Building The Factory Of The Future . . 15 October 2014 . 1 November 2014 . Slade, Hollie.
  11. Affordable Injection Molding Transforms Tinkerers Into Tycoons. Wired. 30 September 2013.
  12. Web site: Proto Labs: Weiter auf Wachstumskurs mit neuer Betriebsstätte. Plasticker. 30 September 2013.
  13. Web site: How Proto Labs makes manufacturing in the USA possible for more inventors . Adrienne Burke . Yahoo! Small Business Advisor . 3 January 2014 . 14 August 2014 .
  14. Web site: Proto Labs: First Cut mit Prototypenteilen aus Aluminium. Plasticker. 30 September 2013.
  15. Web site: United States Securities and Exchange Commission - Proto Labs Inc. Nasdaq. 30 September 2013.
  16. News: St. Anthony: Proto Labs learns a long-term lesson. Star Tribune. 30 September 2013. https://web.archive.org/web/20131005012522/http://www.startribune.com/business/151198795.html. 5 October 2013. dead.
  17. Web site: Minnesota firm upgrades LSR capabilities . Mike Scott . Rubber News . 28 May 2014 . 14 August 2014 .
  18. News: Proto Labs gets into 3-D printing with N.C. acquisition, opens Plymouth plant . Sam Black . Minneapolis / St. Paul Business Journal . 24 April 2014 . 14 August 2014.
  19. Web site: Proto Labs Enters 3-D Printing With $38M Deal . Kevin Mahoney . Twin Cities Business . 24 April 2014 . 14 August 2014.
  20. Web site: Proto Labs Buys 3D Printing Service Bureau . Ann R. Thryft. Design News. 13 May 2014. 14 August 2014.
  21. News: Proto Labs buys 3-D printing company in Raleigh, opens Plymouth factory . Dee Depass. Star Tribune . 25 April 2014. 14 August 2014.
  22. Web site: Proto Labs acquires New Hampshire sheet metal manufacturer for $120 million. Williams. Nick. 2017-11-21. www.bizjournals.com. 2017-11-21.
  23. Web site: How factories change production to quickly fight coronavirus. Miller. Norman. www.bbc.com. en. 2020-04-28.
  24. Web site: Protolabs Reaches Agreement to Acquire 3D Hubs, Creates the World's Broadest Digital Manufacturing Offer for Custom Parts. 2021-01-19. www.businesswire.com. 2021-01-21.
  25. Web site: Protolabs' VP and GM of Americas Named Successor to Company's President and CEO. 2020-12-14. www.protolabs.com. 2021-01-21.
  26. Web site: A Phone Charging Device For The Next Billion Turns Heat Into Power . Jessica Leber . Fast.co Exist . 19 November 2013 . 14 August 2014 .
  27. Web site: Proto Labs Gives Entrepreneurs with Cool Ideas a Kickstart . Adrienne Burke . Yahoo! Small Business Advisor . 8 February 2014 . 14 August 2014 .
  28. An Award For Hardware . Rakesh Sharma . Forbes . 18 February 2014 . 14 August 2014.
  29. Web site: The Business Journal names "Growth 50". Minneapolis/St. Paul Business Journal. 30 September 2013.
  30. Web site: Proto Labs: Auszeichnung mit dem Queen's Award. Plasticker. 30 September 2013.
  31. Web site: EY announces winners for the Entrepreneur Of The Year™ 2012 Upper Midwest Award. EY. 30 September 2013. https://web.archive.org/web/20131005001603/http://www.ey.com/US/en/Newsroom/News-releases/Entrepreneur-Of-The-Year%C2%AE-2012-Upper-Midwest-Winners. 5 October 2013. dead.
  32. Web site: Proto Labs replaces founder Lukis as chief technology officer. Minneapolis/St. Paul Business Journal. 30 September 2013.
  33. The Winners Circle: America's Best Small Companies . Karsten Strauss. Forbes. 9 October 2013 . 14 August 2014.
  34. https://www.vendop.com/best-vendor/2015/rapid-prototyping/ VendOp's Top Rapid Prototyping Vendors of 2015
  35. News: Top Workplaces in Minnesota. Star Tribune. 13 January 2017.
  36. Web site: Proto Labs, Sentera among 2016 Tekne Award winners. Minneapolis/St. Paul Business Journal. 17 November 2016.

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