Company:Protolabs

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Protolabs
FormerlyThe ProtoMold Company
NYSE: PRLB
S&P 600 Component
Founded1999; 25 years ago (1999)
FounderLarry Lukis
Headquarters
Maple Plain, Minnesota
,
U.S.
Area served
Global
Key people
Larry Lukis, Brad Cleveland
Robert Bodor (CEO)
ProductsPrototyping and short-run production parts
Revenue$445.6 million (2018)
Number of employees
2,700 (2019)
Websitewww.protolabs.com

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]

Other companies appear to offer very similar services, such as Xometry.com.

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]

An aerial view of Protolabs manufacturing facility in Plymouth, Minnesota.

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.[23]

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

  • In 2004, the Minneapolis/St Paul Business Journal named Protomold to the top of its “Growth 50” list.[29]
  • In 2010 and 2013, Protolabs was awarded the Queen's Awards for Enterprise.[30]
  • In June 2012, Larry Lukis and Brad Cleveland won the Ernst & Young Entrepreneur of the Year Award for their work with Protolabs.[31][32]
  • In 2013 and 2014, Protolabs was recognized by Forbes in the top 5 of America's Best Small Companies.[33]
  • In 2015, Protolabs was recognized as one of the top-ranked rapid prototyping vendors in the United States by their customers.[34]
  • In 2016, Workplace Dynamics recognized Protolabs as a top-ranked workplace in Minnesota [35]
  • In 2016, the Minnesota High Tech Association awarded Protolabs (alongside Recombinetics, Sentera, and 12 other companies) with a Tekne award for its work in advanced manufacturing.[36]

See also

References

  1. ↑ 1.0 1.1 1.2 1.3 "Proto Labs Ltd Does with the Queen's Award for the second time". Interempresas. http://www.interempresas.net/Plastics/Articles/109419-Proto-Labs-Ltd-Does-with-Queen-s-Award-for-second-time.html. Retrieved 30 September 2013. 
  2. ↑ 2.0 2.1 2.2 2.3 2.4 "Fast forward prototyping arrives". Plastics Today. http://www.plasticstoday.com/articles/fast-forward-prototyping-arrives. Retrieved 30 September 2013. 
  3. ↑ 3.0 3.1 3.2 3.3 3.4 "Rapid Injection Molder's Automated Process Creates Strategic Advantages for Clients". Design-2-Part Magazine. http://www.jobshoptechnology.com/Article.aspx?ArticleID=47. Retrieved 30 September 2013. 
  4. ↑ "Proto Labs". PMW Magazine. http://www.pmw-magazine.com/directory.php?CompanyID=162. Retrieved 30 September 2013. 
  5. ↑ 5.0 5.1 5.2 "The Changing Face of Injection Molding". Medical Design. http://medicaldesign.com/contract-manufacturing/changing-face-injection-molding. Retrieved 30 September 2013. 
  6. ↑ 6.0 6.1 "Fashion Meets Function with Proto Labs' Latest Cool Idea! Award Winner". Daily Finance. http://www.dailyfinance.com/2013/07/16/fashion-meets-function-with-proto-labs-latest-cool/. Retrieved 30 September 2013. 
  7. ↑ "3D Technology Will Be "Printing" Money". Money Show. http://www.moneyshow.com/investing/article/1/tptp031113-30841/3D-Technology-Will-Be-Printing-Money/. Retrieved 30 September 2013. 
  8. ↑ "Women in Business 2013—Jackie Schneider". Minneapolis/St. Paul Business Journal. http://www.bizjournals.com/twincities/print-edition/2013/05/24/women-in-business-2013-jackie-schneider.html. Retrieved 30 September 2013. 
  9. ↑ 9.0 9.1 "Large Manufacturer of the Year: GNP Company". Minnesota Business Magazine. http://minnesotabusiness.com/article/2012-large-manufacturer-year-gnp-company. Retrieved 30 September 2013. 
  10. ↑ 10.0 10.1 Slade, Hollie (15 October 2014). "How Proto Labs Is Building The Factory Of The Future". Forbes. https://www.forbes.com/sites/hollieslade/2014/10/15/how-proto-labs-is-building-the-factory-of-the-future/. Retrieved 1 November 2014. 
  11. ↑ "Affordable Injection Molding Transforms Tinkerers Into Tycoons". Wired. https://www.wired.com/design/2013/01/protomold/. Retrieved 30 September 2013. 
  12. ↑ "Proto Labs: Weiter auf Wachstumskurs mit neuer Betriebsstätte". Plasticker. http://plasticker.de/Kunststoff_News_14397_Proto_Labs_Weiter_auf_Wachstumskurs_mit_neuer_Betriebsstaette?begriff=proto+labs&div=n. Retrieved 30 September 2013. 
  13. ↑ Adrienne Burke (3 January 2014). "How Proto Labs makes manufacturing in the USA possible for more inventors". Yahoo! Small Business Advisor. http://smallbusiness.yahoo.com/advisor/blogs/profit-minded/proto-labs-makes-manufacturing-usa-possible-more-inventors-000922637.html. Retrieved 14 August 2014. 
  14. ↑ "Proto Labs: First Cut mit Prototypenteilen aus Aluminium". Plasticker. http://plasticker.de/Kunststoff_News_9516_Proto_Labs_First_Cut_mit_Prototypenteilen_aus_Aluminium?begriff=proto+labs&div=n. Retrieved 30 September 2013. 
  15. ↑ "United States Securities and Exchange Commission - Proto Labs Inc". Nasdaq. http://www.nasdaq.com/markets/ipos/filing.ashx?filingid=7994499. Retrieved 30 September 2013. 
  16. ↑ "St. Anthony: Proto Labs learns a long-term lesson". Star Tribune. http://www.startribune.com/business/151198795.html. Retrieved 30 September 2013. 
  17. ↑ Mike Scott (28 May 2014). "Minnesota firm upgrades LSR capabilities". Rubber News. http://www.rubbernews.com/article/20140528/NEWS/305199987/minnesota-firm-upgrades-lsr-capabilities. Retrieved 14 August 2014. 
  18. ↑ Sam Black (24 April 2014). "Proto Labs gets into 3-D printing with N.C. acquisition, opens Plymouth plant". Minneapolis / St. Paul Business Journal. http://www.bizjournals.com/twincities/news/2014/04/24/protlabs-buys-fineline-prototyping-plymouth-plant.html?page=all. Retrieved 14 August 2014. 
  19. ↑ Kevin Mahoney (24 April 2014). "Proto Labs Enters 3-D Printing With $38M Deal". Twin Cities Business. http://tcbmag.com/News/Recent-News/2014/April/Proto-Labs-Pays-$38M-For-NC-Company. Retrieved 14 August 2014. 
  20. ↑ Ann R. Thryft (13 May 2014). "Proto Labs Buys 3D Printing Service Bureau". Design News. http://www.designnews.com/author.asp?section_id=1392&doc_id=273197&f_src=designnews_gnews&dfpPParams=ind_183,industry_auto,industry_aero,industry_consumer,industry_gov,industry_machinery,industry_medical,bid_27,aid_273197&dfpLayout=blog&dfpPParams=ind_183. Retrieved 14 August 2014. 
  21. ↑ Dee Depass (25 April 2014). "Proto Labs buys 3-D printing company in Raleigh, opens Plymouth factory". Star Tribune. http://www.startribune.com/business/256715411.html#KGjtebFz6IOiLwOZ.97. Retrieved 14 August 2014. 
  22. ↑ Williams, Nick (2017-11-21). "Proto Labs acquires New Hampshire sheet metal manufacturer for $120 million". https://www.bizjournals.com/twincities/news/2017/11/21/proto-labs-acquires-new-hampshire-sheet-metal.html. 
  23. ↑ 23.0 23.1 Miller, Norman. "How factories change production to quickly fight coronavirus" (in en). https://www.bbc.com/worklife/article/20200413-how-factories-change-production-to-quickly-fight-coronavirus. 
  24. ↑ "Protolabs Reaches Agreement to Acquire 3D Hubs, Creates the World's Broadest Digital Manufacturing Offer for Custom Parts". 2021-01-19. https://www.businesswire.com/news/home/20210119005245/en/Protolabs-Reaches-Agreement-to-Acquire-3D-Hubs-Creates-the-World%E2%80%99s-Broadest-Digital-Manufacturing-Offer-for-Custom-Parts. 
  25. ↑ "Protolabs' VP and GM of Americas Named Successor to Company's President and CEO". 2020-12-14. https://www.protolabs.com/resources/blog/protolabs-vp-and-gm-of-americas-rob-bodor-named-successor-to-company-s-president-and-ceo-vicki-holt/. 
  26. ↑ Jessica Leber (19 November 2013). "A Phone Charging Device For The Next Billion Turns Heat Into Power". Fast.co Exist. http://www.fastcoexist.com/3021869/a-phone-charging-device-for-the-next-billion-turns-heat-into-power. Retrieved 14 August 2014. 
  27. ↑ Adrienne Burke (8 February 2014). "Proto Labs Gives Entrepreneurs with Cool Ideas a Kickstart". Yahoo! Small Business Advisor. http://smallbusiness.yahoo.com/advisor/blogs/profit-minded/proto-labs-gives-entrepreneurs-cool-ideas-kickstart-210056505.html. Retrieved 14 August 2014. 
  28. ↑ Rakesh Sharma (18 February 2014). "An Award For Hardware". Forbes. https://www.forbes.com/sites/rakeshsharma/2014/02/18/an-award-for-hardware/. Retrieved 14 August 2014. 
  29. ↑ "The Business Journal names "Growth 50"". Minneapolis/St. Paul Business Journal. http://www.bizjournals.com/twincities/stories/2004/10/18/daily53.html?jst=m_ln_hl. Retrieved 30 September 2013. 
  30. ↑ "Proto Labs: Auszeichnung mit dem Queen's Award". Plasticker. http://plasticker.de/Kunststoff_News_10957_Proto_Labs_Auszeichnung_mit_dem_Queens_Award?begriff=proto+labs&div=n. Retrieved 30 September 2013. 
  31. ↑ "EY announces winners for the Entrepreneur Of The Year™ 2012 Upper Midwest Award". EY. http://www.ey.com/US/en/Newsroom/News-releases/Entrepreneur-Of-The-Year%C2%AE-2012-Upper-Midwest-Winners. Retrieved 30 September 2013. 
  32. ↑ "Proto Labs replaces founder Lukis as chief technology officer". Minneapolis/St. Paul Business Journal. http://www.bizjournals.com/twincities/news/2013/07/03/bodor-promoted-to-cto-at-proto-labs.html. Retrieved 30 September 2013. 
  33. ↑ Karsten Strauss (9 October 2013). "The Winners Circle: America's Best Small Companies". Forbes. https://www.forbes.com/sites/karstenstrauss/2013/10/09/the-winners-circle-americas-best-small-companies/. Retrieved 14 August 2014. 
  34. ↑ VendOp's Top Rapid Prototyping Vendors of 2015
  35. ↑ "Top Workplaces in Minnesota". Star Tribune. http://www.startribune.com/2016-national-standard-setters/384033281/. Retrieved 13 January 2017. 
  36. ↑ "Proto Labs, Sentera among 2016 Tekne Award winners". Minneapolis/St. Paul Business Journal. https://www.bizjournals.com/twincities/news/2016/11/17/proto-labs-sentera-among-2016-tekne-award-winners.html. Retrieved 17 November 2016. 

Further reading

External links



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