Navidar Advises Proto Labs in Its Acquisition of Rapid Manufacturing

AUSTIN, Texas–(BUSINESS WIRE)–Navidar is pleased to announce that our client, Proto Labs (NYSE: PRLB),
a global leader in technology-enabled manufacturing, has entered into a
definitive agreement to acquire privately held company Rapid
Manufacturing Group, LLC (“RAPID”). RAPID is a New Hampshire-based
custom parts supplier specializing in quick-turn sheet metal fabrication
and CNC machining. With the acquisition, Proto Labs will be able to
offer its customers another quick-turn manufacturing service while
expanding its CNC machining capabilities.

Proto Labs is the world's fastest digital manufacturing source for rapid
prototyping and on-demand production. The technology-enabled company
produces custom parts and assemblies in as fast as 1 day with automated
3D printing, CNC machining, sheet metal fabrication, and injection
molding processes. Its digital approach to manufacturing enables
accelerated time to market, reduces development and production costs,
and minimizes risk throughout the product life cycle.

Under the terms of the agreement, Proto Labs will acquire RAPID for an
aggregate purchase price of $120 million consisting of $110 million in
cash and $10 million in Proto Labs stock. RAPID’s 2017 annual revenue is
forecasted to be approximately $45 million. The transaction is expected
to close by the end of the year, subject to customary closing conditions.

“Navidar fills an important investment banking need by delivering the
sophisticated M&A advisory skills of a global investment bank but the
willingness to work on strategic transactions that are below the target
size of the global banks,” said John Way, Chief Financial Officer.

“We are delighted to have represented Proto Labs on this strategic
acquisition. Companies like Proto Labs, based in Minneapolis and who
operate at the intersection of manufacturing and technology, are a
strategic focus for Navidar’s investment banking division,” said Stephen
Day, Co-Founder and Managing Director.

About Navidar

Navidar Holdco LLC, with a presence in Austin, Atlanta, Cleveland,
Dallas, Denver, Indianapolis, Minneapolis and San Antonio, is an
investment banking firm that provides businesses and investors in
dynamic industries with strategic merger and acquisition advice, capital
raising solutions and corporate advisory services. The firm focuses on
SaaS software, eCommerce & Internet, IT and engineering services,
specialty manufacturing, and health care information technology
companies. Navidar principals have completed more than 300 transactions
representing transaction volume of nearly $70 billion in M&A and capital
raising, for both private and public companies, over the past 20 years.
Navidar Group LLC, a wholly owned subsidiary, is a broker-dealer that is
registered with FINRA and SIPC. To learn more about Navidar, please
visit www.navidar.com.

Contacts

Navidar
Chelsey Gonzales
O: 512-765-6976
[email protected]