FineLine Prototyping to jump-start Proto Labs entry into additive
manufacturing service business
RALEIGH, N.C.--(BUSINESS WIRE)--Apr. 24, 2014--
FineLine Prototyping, Inc. a leading additive manufacturing service
company, has announced today that it has been acquired by online and
technology-enabled quick-turn manufacturer Proto Labs, Inc. (NYSE: PRLB).
Proto Labs, headquartered in Maple Plain, MN, uses computer numerical
control (CNC) machining and injection molding to manufacture custom
parts for product developers worldwide.
FineLine offers high-quality stereolithography, selective laser
sintering and direct metal laser sintering services to corporate
customers in a wide variety of industries, including medical, aerospace,
computer/electronics, consumer products, industrial machinery, among
others.
The addition of an additive manufacturing service is highly
complementary to Proto Labs’ existing CNC machining and injection
molding services. Historically, 70% of Proto Labs customers also utilize
an additive manufacturing service in their product development process.
Proto Labs will announce the acquisition of FineLine to its substantial
database of over 300,000 product developers to help accelerate the
growth of the additive manufacturing business.
Proto Labs will continue to operate the FineLine facility out of
Raleigh, and expects to retain the services of all key employees,
including FineLine principals Rob Connelly and Craig Goff, who will lead
Proto Labs’ global additive manufacturing business and operations.
Rob Connelly, President of FineLine said, “We are excited to join the
Proto Labs team, a global leader in quick-turn custom parts
manufacturing. Not only is it a great cultural fit for FineLine, but
we’re now in a better position to meet the significant demand for
additive manufacturing services by leveraging the broader customer reach
and global brand recognition of market-leader Proto Labs.”
“The acquisition of FineLine is consistent with Proto Labs’ strategy to
expand sales to product developers through envelope expansions and
addition of new service offerings which reduce time, cost and waste in
new product development,” said Vicki Holt, Proto Labs President and CEO.
“We’re excited to welcome the FineLine team on board.”
Mooreland Partners LLC acted as exclusive financial advisor to FineLine
Prototyping, Inc. in connection with this transaction.
About Proto Labs, Inc.
Proto Labs, Inc. is a leading online and technology-enabled quick-turn
manufacturer of custom parts for prototyping and short-run production.
Proto Labs provides “Real Parts, Really Fast” to product developers
worldwide. Proto Labs uses computer numerical control (CNC) machining,
injection molding, and additive manufacturing to manufacture custom
parts for our customers. For more information, visit www.protolabs.com.
Source: Proto Labs, Inc.
Proto Labs, Inc.
Investor Relations:
Jack Judd,
763-479-7408
Jack.judd@protolabs.com
or
Media
Relations:
Bill Dietrick, 763-479-7664
Bill.dietrick@protolabs.com