Proto Labs acquires Rapid Manufacturing Group

Proto Labs has recently entered a definitive agreement that allows them to acquire Rapid Manufacturing Group.

The company has agreed to purchase Rapid Manufacturing for $120 million – broken down into $110 million in cash and $10 million in Proto Labs stock. The transaction is set to close by the end of this year.

The acquisition of the Nashua, N.H.–based company expands Proto Labs’s CNC machining capabilities while offering more quick-turn manufacturing services to its customers.

“Quick-turn prototyping and low-volume manufacturing have always been at the core of RAPID, and this foundation makes us a natural fit with Proto Labs’ digital model,” Jay Jacobs, founder of Rapid Manufacturing, said in a press release. “I’m excited about the opportunities our combined manufacturing services will provide for our customers who will now have a single source for a variety of manufacturing services, including injection molding and 3D printing.”

Rapid Manufacturing currently employs about 300 people, bringing Proto Labs’s total employee count to more than 2,000 employees worldwide.

“We listen to our customers very closely to understand their needs,” Vicki Holt, CEO of Proto Labs, said. “We continue to look for opportunities to expand our capabilities to serve our existing customers and to expand our customer base. RAPID not only adds quick-turn and e-commerce-enabled sheet metal services to our portfolio, it also expands our machining capabilities to support larger and more complex projects. In addition, RAPID’s culture is highly aligned with that of Proto Labs, with a talented and experienced team that we are very excited to welcome to the Proto Labs family.”

From the Hospital Bed to the Finish Line Heidi Dohse was diagnosed with a rare arrhythmia in 1982 and has been 100% pacemaker dependent for over 30 years. With the help of wearable devices, she has been able to pursue her dream to become a competitive cyclist. You can hear her story and more when you register for DeviceTalks Boston, October 8-10. REGISTER NOW Use code FINISHLINE to save an additional 10%.