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

Image

Canadian mold maker Thibault adding to new operation in Mexico

August 27, 2014 3:19 pm ET

Canadian mold maker I Thibault Inc has purchased an established Mexican company, Tecnimoldes SA de CV, for a seven-figure-dollar-sum and renamed it...    More

Image

Design, materials, engineering finding a faster way forward

August 27, 2014 1:50 pm ET

Engineering and design specialists at Altair Thinklabs and Eastman Chemical Co. have developed prototypes that would not just help Paralympics...    More

Image

Design Stories: Young designers showing the way in adaptive design

August 27, 2014 12:12 pm ET

Amanda Bolton, then 19, decided to change her major at the University of Cincinnati from fine arts to industrial design, creating products for people ...    More

Image

Mission Plastics brings new automated work cell on line

August 26, 2014 4:17 pm ET

Custom injection molder Mission Plastics Inc. and a customer have created a $1.5-million automated work cell for a medical diagnostics product.    More

Image

Megadyne buying Belt Corp. of America

August 26, 2014 10:35 am ET

In a move aimed at building its specialty belting manufacturing and fabrication operations, Jason Industrial Inc. — Megadyne SpA's wholly owned ...    More

Market Reports

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

2014 Injection Molding Industry Report

GROWTH, OPPORTUNITY IN SIGHT FOR INJECTION MOLDERS IN 2014

In the wake of the economic turbulence earlier in this decade, molders today find themselves in much better shape. Molders are gaining a competitive advantage by investing in people, equipment and seeking inroads into new markets on a global scale.

Growth in the injection molding industry is going to be driven by low financing costs and a continued move to reshore some business.

Learn more

Upcoming Plastics News Events

September 10, 2014 - September 12, 2014Plastics Caps & Closures 2014

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

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

More Events