Proto Labs IPO to raise up to $65 million

By Frank Antosiewicz
Correspondent

Published: February 14, 2012 6:00 am ET

Related to this story

Topics Mergers & Acquisitions, Injection Molding, Design

MAPLE PLAIN, MINN. (Feb. 14, 3:25 p.m. ET) — Proto Labs Inc. plans to offer 4.3 million shares of common stock at a price between $13 and $15 per share in its initial public offering, according to recently updated registration statement with Securities and Exchange Commission.

According to the filing, the company plans to apply to the New York Stock Exchange for a listing under the ticker symbol PRLB. Jefferies & Co., Inc. and Piper Jaffray & Co. are acting as joint book-running managers for the offering.

Proto Labs said the money raised is intended for working capital and general corporate purposes. The offering is expected to raise between $56 million and $65 million.

Proto Labs describes itself as an online and technology enabled manufacturer of quick turned CNC machined and injection molded custom parts for prototyping and short-run production. The company said almost all of its business is conducted via the internet and it targets services to millions of product developers using three-dimensional CAD systems.

It has 511 employees and 2011 sales of $98.9 million. The company has manufacturing operations in Maple Plain, Minn.; Telford, England; and Ebina, Japan.

Proto Labs also disclosed that it has plans to expand in both the U.S. and Japan with key purchases in the fourth quarter of 2011.

The company spent $3.95 million to buy a property in Rosemount, Minn.; that includes 128,000 square feet of manufacturing and office space. It has about 170,000 square feet of space while currently occupying three buildings.

The company also said that it signed a lease for about 32,000 square feet of office and manufacturing space in Yamoto-shi, Kanagawa, Japan, and that it will be available in April 2012 when its current lease expires in Ebina. That is more than double the space of its current 14,000-square-foot facility.


Comments

Proto Labs IPO to raise up to $65 million

By Frank Antosiewicz
Correspondent

Published: February 14, 2012 6:00 am ET

Post Your Comments


Back to story


More stories

Badger buys competitor Joseph Homa

September 17, 2014 4:04 pm ET

Badger Plug Co. has extended its protective plugs customer base by acquiring and closing a rival, Joseph Homa Consultants Inc. of Montreal.    More

Image

Cascade Engineering founder Keller to step down as CEO

September 16, 2014 8:33 pm ET

Cascade Engineering Inc. is undergoing a transition as President Mark Miller will also add the role of CEO, replacing founder Fred Keller, who has...    More

Image

Canadian, Mexican injection molders form auto supply joint venture

September 16, 2014 2:26 pm ET

A new automotive parts manufacturer will open in Querétaro, Mexico, through a joint venture between Canadian automotive supplier Papp Plastics and...    More

Image

ZF finalizes deal to buy TRW, creating another global auto supply giant

September 15, 2014 1:09 pm ET

TRW Automotive Holdings, in a supply chain megadeal that has been in the works since mid-July, said Sept. 15 it has agreed to be acquired by German...    More

Image

Germany's Lehmann & Voss buys U.S.-based Performance Compounding

September 12, 2014 11:36 am ET

German compounding firm Lehmann & Voss & Co. KG has acquired Performance Compounding LLC for an undisclosed price.    More

Market Reports

Shale Gas Market - Analysis of North American Region

This report highlights the impact of shale-based natural gas on the North American plastics market and features an in-depth analysis of production trends in the United States during 2013 and a forecast for 2014 and beyond.

Learn more

Thermoformed Packaging 2014 Market Review & Outlook – North America

This in-depth report analyzes economic and market trends, legislative/regulatory activity impacting supply and demand, business opportunities and threats, materials pricing, manufacturing technology, as well as growth strategies being implemented by thermoformed packaging companies.

Learn more

Pipe, Profile & Tubing Extrusion in North America 2014

U.S. demand for extruded plastics is expected to grow by 3 percent in 2014, with PVC remaining the largest segment.

Plastic pipe will post the strongest gains through 2018, continuing to take market share from competing materials in a range of markets.

Our latest market report provides in-depth analysis of current trends and their financial impact on the pipe, profile and tubing extrusion industry in North America.

Learn more

Upcoming Plastics News Events

January 14, 2015 - January 14, 2015Plastics in Automotive

February 4, 2015 - February 6, 2015Plastics News Executive Forum 2015

More Events