Protolabs
| Company type | Public |
|---|---|
| Industry | Rapid manufacturing |
| Founded | 1999 |
| Founder | Larry Lukis |
| Headquarters | Maple Plain, Minnesota , United States |
Area served | Worldwide |
Key people | Larry Lukis (Founder), Suresh Krishna (CEO as of article), Robert Bodor (CEO since March 2021), Vicki Holt (former CEO) |
| Products | Custom parts via 3D printing, CNC machining, sheet metal fabrication, injection molding |
| Revenue | $445.6 million (2018) |
Number of employees | 2700 (2019) |
| Website | www |
Protolabs is a company focused on rapid manufacturing, offering custom parts produced through low-volume 3D printing, CNC machining, sheet metal fabrication, and injection molding for prototyping and limited production runs. Its clientele spans various sectors such as medical devices, electronics, household appliances, automotive, and consumer products. Established in 1999 by entrepreneur Larry Lukis, Protolabs has grown into a global enterprise with its main headquarters and primary manufacturing site located in Maple Plain, Minnesota, complemented by additional facilities in England and Germany.
The firm’s operational approach utilizes automation to ensure swift delivery times, granting it a competitive edge in rapid prototyping and just-in-time manufacturing. Protolabs reported revenues of $445.6 million in 2018 and employed around 2,700 staff members by 2019. Leadership includes founder Larry Lukis alongside CEO Suresh Krishna, both of whom guide the company’s strategic direction and expansion efforts.
Protolabs holds significant market influence by simplifying manufacturing processes across multiple industries through digital production technologies, enabling clients worldwide to accelerate innovation and reduce their time-to-market.
Protomold
Larry Lukis founded Protomold Company, Inc. in 1999, focusing on fast-turnaround custom plastic injection molded components. Protomold became known for its ability to deliver small batch molded parts quickly and handle urgent orders. Prior to this, Lukis was CEO of ColorSpan and took on the role of chief technology officer at Protomold. Brad Cleveland joined the company as CEO and president in 2001.
In 2005, Protomold launched its first manufacturing facility in the UK, located in Telford, England. Two years later, the company introduced the Firstcut service for rapid CNC machining.
Protolabs
In 2009, Protomold merged with Firstcut under the unified corporate identity Proto Labs Inc., commonly referred to as Protolabs. That same year marked the company's entry into the Japanese market, focusing on serving Japanese design engineers. Firstcut expanded its offerings to include CNC-machined prototype parts made from materials such as aluminum, ABS, nylon, and PEEK.
Protolabs went public with an initial public offering in February 2012. By 2013, the company’s revenue had grown to $150 million.
In 2014, Protolabs acquired FineLine Prototyping Inc., a 3-D printing business based in North Carolina, broadening its product range and service capabilities. Its 3D printing operations were relocated to a newly established 77,000 square foot facility in Cary, North Carolina. Additionally, a new plant was opened in Plymouth, Minnesota.
Vicki Holt was appointed CEO in February 2014 to lead Protolabs toward achieving billion-dollar manufacturing status.
In November 2017, Protolabs expanded further by acquiring RAPID Manufacturing located in Nashua, New Hampshire for $120 million, integrating sheet metal fabrication into its global manufacturing portfolio.
COVID-19 Pandemic
Amid the 2019–2020 COVID-19 crisis, Protolabs contributed by producing face shields, plastic clips, and components essential for test kits used by hospitals across Minnesota. The company also collaborated with the University of Minnesota to manufacture parts for an affordable ventilator design.
2021
In January 2021, Protolabs finalized the acquisition of 3D Hubs, a manufacturing platform headquartered in Amsterdam, for $280 million through a combination of cash, equity, and performance incentives. This move broadened Protolabs' portfolio in the digital manufacturing sector. Subsequently, in March 2021, Robert Bodor, who previously served as Vice President and General Manager for the Americas region, took over the role of CEO from Vicki Holt.
Cool Idea! Program
Since its inception in 2011, the Cool Idea! Award initiative by Protolabs has provided up to $250,000 annually in manufacturing services to support entrepreneurs in the U.S. and Europe who present groundbreaking product concepts.
Awards
- 2004: Included in the Minneapolis/St Paul Business Journal’s “Growth 50” rankings.
- 2010 & 2013: Honored with the Queen's Awards for Enterprise.
- 2012: Founders Larry Lukis and Brad Cleveland received the Ernst & Young Entrepreneur of the Year Award.
- 2013 & 2014: Featured among Forbes' top five America's Best Small Companies.
- 2015: Acknowledged by customers as a leading rapid prototyping provider.
- 2016: Recognized as one of Minnesota’s premier workplaces by Workplace Dynamics.
- 2016: Earned the Tekne award from the Minnesota High Tech Association for excellence in advanced manufacturing.
Further reading
- Injection Molding: New Twists for a Mainstream Technology
- "How Proto Labs Is Building The Factory Of The Future", Forbes
External links
- Companies listed on the New York Stock Exchange
- Manufacturing companies established in 1999
- Manufacturing companies based in Minnesota
- 1999 establishments in Minnesota
- American companies established in 1999
- 2012 initial public offerings
- Injection molding
- 3D printing
- Numerical control
- Fused filament fabrication
- Companies of the United States by year of establishment