World-leading digital manufacturer Protolabs
, which has a UK facility in Telford, has entered into a definitive agreement to acquire 3D Hubs Inc
, a leading online manufacturing platform that provides engineers with on-demand access to a global network of approximately 240 premium manufacturing partners.
The transaction creates the world’s most comprehensive digital manufacturing offer for custom parts, providing Protolabs with a network of manufacturing partners to fulfil a breadth of capabilities outside of its current sphere, as well as a broader offering of pricing and lead time options.
Rob Bodor, Protolabs’ vice president and general manager of the Americas, said: “The addition of 3D Hubs provides Protolabs a platform to evolve our service model to provide unprecedented manufacturing flexibility to our customers.
“Our combined organisations will provide the market with an industry-leading digital manufacturing solution to serve their needs from idea to prototype to full end-use part production. Together we can fulfil nearly every custom manufacturing need across the product lifecycle.”
Founded in 2013, 3D Hubs has facilitated the production of over 6 million custom parts and products through its digital platform which provides customers with instant pricing and design feedback. Orders are fulfilled through thoroughly vetted premium manufacturing partners in over 20 countries world-wide, offering vast manufacturing capacity and a broad range of manufacturing capabilities at a variety of competitive pricing levels.
Bram de Zwart, 3D Hubs founder and CEO, said: “The entire 3D Hubs team is thrilled to join Protolabs and continue to revolutionise the manufacturing industry through innovation. At 3D Hubs, our goal is to empower companies to create revolutionary products through supply chain efficiency and reliability. We are confident that partnering with Protolabs will help us advance that mission.”
3D Hubs’ 2020 revenue is forecast to be $25 million and the company’s revenue has had a compound annual growth rate of over 200% since 2017. The transaction is expected to close by the end of January, subject to customary closing conditions.
Vicki Holt, Protolabs’ CEO said: “The acquisition of 3D Hubs is part of the continued evolution of Protolabs as the digital manufacturing leader, serving more and more of our customer’s needs.
“Protolabs’ leading in-house technology-enabled manufacturing services combined with 3D Hubs’ global network of premium manufacturing partners will yield the greatest value to our customers for years to come.”