Rapid Announces Acquisition by Proto Labs
NASHUA, NH—November 21, 2017—Rapid and Proto Labs (NYSE: PRLB) announced today that the two companies have reached an agreement for Proto Labs, a digital manufacturer based in Minnesota, to acquire Rapid subject to standard terms and conditions of purchase.
Rapid is a leading sheet metal fabrication and CNC machining company with more than 140,000 sq. ft. of manufacturing space in Nashua, NH. This acquisition will expand Proto Labs’ machining capabilities and grow its service portfolio with quick-turn sheet metal parts.
“This exciting acquisition is a natural fit, providing both growth and opportunity for all aspects of our business and for our employees”, said RAPID founder, Jay Jacobs. “Culturally, Proto Labs and Rapid have a very similar purpose and mission, which is to help our customers get their ideas to market faster through rapid services. We are excited to be joining forces with a leader in digital manufacturing.”
This expansion of Proto Labs’ services and capabilities reinforces its promise to customers to continue to seek ways to further optimize product development and improve supply chain efficiencies through a variety of digital manufacturing methods. The transaction is expected to be completed in early December.
Rapid specializes in quick-turn sheet metal fabrication and CNC machining for prototypes and production parts within days. Instant quotes are available with eRapid, a free SOLIDWORKS add-in that allows users to instantly cost and order sheet metal parts inside the CAD software. Design for manufacturability feedback on machined parts is also available with eRapid within 24 hours. Other services include wire harnesses, cable assemblies, and box builds. Learn more at rapidmanufacturing.com.
About Proto Labs
Proto Labs is the world’s fastest digital manufacturing source for rapid prototyping and on-demand production. The technology-enabled company produces custom parts and assemblies in as fast as 1 day with automated 3D printing, CNC machining, sheet metal fabrication, and injection molding processes. Its digital approach to manufacturing enables accelerated time to market, reduces development and production costs, and minimizes risk throughout the product life cycle. Visit protolabs.com for more information.