Proto Labs Inc., Maple Plain, has completed the acquisition of Rapid Manufacturing Group LLC, a New Hampshire-based quick-turn manufacturer of sheet metal and CNC machined parts. The purchase was made using $110 million in cash and $10 million worth of Proto Labs stock.
Rapid is expected to produce $45 million in annual revenue during 2017 and will gradually transition to operating under the Proto Labs brand.
TCF adds residential mortgage lender
TCF National Bank, Wayzata, has signed a definitive agreement to acquire Rubicon Mortgage Advisors LLC. The residential mortgage lender has offices in Minnesota and North Dakota and licenses to operate in South Dakota, Wisconsin, Colorado and California.
Rubicon has 34 employees, all expected to join TCF. Terms of the deal were not disclosed.