Protolabs

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]

Protolabs

Formerly	The ProtoMold Company
Traded as	NYSE: PRLB S&P 600 Component
Founded	1999; 25 years ago (1999)
Founder	Larry Lukis
Headquarters	Maple Plain, Minnesota , U.S.
Area served	Global
Key people	Larry Lukis, Brad Cleveland Robert Bodor (CEO)
Products	Prototyping and short-run production parts
Revenue	$445.6 million (2018)
Number of employees	2,700 (2019)
Website	www.protolabs.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

• Injection molding
• 3D printing
• Milling (machining)
• Numerical control
• Computer-aided design
• Digital manufacturing

References

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

Further reading

• Injection Molding: New Twists for a Mainstream Technology
• "How Proto Labs Is Building The Factory Of The Future", Forbes

External links

• Official site