Proto Labs, Inc. Launches New Additive Manufacturing Service
24 Abril 2014 - 6:00AM
Business Wire
Proto Labs acquires FineLine Prototyping to
jump-start entry into additive manufacturing service business
Proto Labs, Inc. (NYSE: PRLB), a leading online and
technology-enabled quick-turn manufacturer, has announced today the
launch of its additive manufacturing service through the
acquisition of privately held FineLine Prototyping, Inc. a leading
provider of additive manufacturing services.
The addition of additive manufacturing expands Proto Labs
services to address a wider spectrum of need for the product
developer. From concept models, to form and fit testing, to
functional testing and short-run production, no other company can
supply a broader range of quick-turn custom parts with the speed,
reliability and consistency of Proto Labs.
FineLine, based in Raleigh, North Carolina, offers high-quality
stereolithography, selective laser sintering and direct metal laser
sintering services to corporate customers in a wide variety of
industries, including medical, aerospace, computer/electronics,
consumer products and industrial machinery, among others. FineLine
has a stellar reputation for delivering high-quality, precision,
rapid-prototype parts, ranging from small, highly-detailed parts to
large patterns.
Fine Line generated revenues of approximately $9.7 million in
2013. Under terms of the agreement, Proto Labs will acquire
FineLine for total consideration of $38 million. Proto Labs will
continue to operate the FineLine facility out of Raleigh, and
expects to retain the services of all key employees, including
FineLine principals Rob Connelly and Craig Goff to lead the global
additive manufacturing services. Proto Labs expects the acquisition
of FineLine to be accretive to Proto Labs earnings per share by the
fourth quarter of 2014.
The addition of an additive manufacturing service is highly
complementary to Proto Labs’ existing CNC machining and injection
molding services. Historically, 70% of Proto Labs customers also
utilize an additive manufacturing service in their product
development process. Proto Labs will announce its new additive
manufacturing service to its substantial database of over 300,000
product developers to leverage the inherent synergy this new
service provides.
“We are excited to launch our new additive manufacturing
service,” said Vicki Holt, Proto Labs President and CEO. “The
FineLine acquisition is the first step in building this new
service. We will look to expand our additive manufacturing
capabilities in the US, as well as globally, through both organic
growth and potential new acquisitions. Our customers have been
asking us to provide additive manufacturing services for quite some
time, and now we can address that need. We’re accepting orders
starting today.”
Piper Jaffray & Co. acted as financial advisors to Proto
Labs and Faegre Baker Daniels LLP acted as legal advisors to Proto
Labs.
Conference Call
The company has scheduled a conference call to discuss these
developments today, April 24, 2014 at 8:30 a.m. ET. To access the
live call, please dial 866-825-1709 or outside the U.S.
617-213-8060, at least five minutes prior to the 8:30 a.m. start
time and use participant code 60779619#. A simultaneous webcast of
the call will also be available on the investor relations section
of the company’s website at www.protolabs.com/investors. An
audio replay will be available for 14 days following the call on
the investor relations section of Proto Lab’s website.
About Proto Labs, Inc.
Proto Labs, Inc. is a leading online and technology-enabled
quick-turn manufacturer of custom parts for prototyping and
short-run production. Proto Labs provides “Real Parts, Really Fast”
to product developers worldwide. Proto Labs uses computer numerical
control (CNC) machining, injection molding, and additive
manufacturing to manufacture custom parts for our customers. For
more information, visit www.protolabs.com.
Proto Labs, Inc.Investor Relations:Jack Judd,
763-479-7408Jack.judd@protolabs.comorMedia Relations:Bill
Dietrick, 763-479-7664Bill.dietrick@protolabs.com
Proto Labs (NYSE:PRLB)
Gráfico Histórico do Ativo
De Ago 2024 até Set 2024
Proto Labs (NYSE:PRLB)
Gráfico Histórico do Ativo
De Set 2023 até Set 2024