Navidar Advises Protolabs in its Acquisition of 3D Hubs
Navidar | June 2, 2021
AUSTIN, TX – Navidar is pleased to announce that our client, Proto Labs, Inc. (NYSE: PRLB), a global leader in technology-enabled manufacturing, has completed its acquisition of 3D Hubs, Inc. (“3D Hubs”), a leading online manufacturing platform that provides customers with on-demand access to a global network of approximately 240 premium manufacturing partners. The completion of this transaction creates the world’s most comprehensive digital manufacturing offer for custom parts.
Protolabs acquired 3D Hubs for aggregate closing consideration of $280 million, consisting of $130 million in cash and $150 million in Protolabs stock. Contingent consideration of up to $50 million is payable based on the achievement of financial performance targets in 2021 and 2022. 3D Hubs generated approximately $25 million of revenue in 2020.
“We are delighted to have advised Protolabs on this strategic acquisition. Protolabs continues to strengthen its leadership position in the technology-enabled manufacturing market with the acquisition of 3D Hubs, a company also led by a team of highly innovative executives. Navidar continues to focus on technology companies based in the middle corridor of the United States, and Protolabs, based in Minneapolis, is a leading example of the technology innovation taking place in this part of the country,” said Stephen Day, Co-Founder of 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 strategic merger and acquisition advice, capital raising solutions and corporate advisory services to businesses and investors in dynamic industries. 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 is a broker-dealer that is registered with FINRA and SIPC.