What is Panelmatic?
Panelmatic, Inc. is a seasoned manufacturer specializing in custom-built electrical and process instrument control panels. With a history dating back to 1957, the company has established a strong reputation for its capabilities in fabricating custom control houses. Its recent expansion into a new 73,000 square-foot facility in Brookfield Township, Ohio, under the new division Panelmatic Building Solutions (PBS), signifies a strategic move to enhance production capacity and better serve its clientele in the industrial utilities market. This expansion is expected to create approximately 30 new full-time positions.
How much funding has Panelmatic raised?
Panelmatic has raised a total of $1M across 1 funding round:
Debt
$1M
Debt (2020): $1M with participation from PPP
What's next for Panelmatic?
The recent major strategic investment signals Panelmatic's commitment to scaling its operations and capturing a larger share of the market for custom control houses. The company's strategic decision to expand its manufacturing footprint, supported by entities like JobsOhio and the Youngstown/Warren Regional Chamber, indicates a focus on innovation and operational efficiency. This capital infusion is poised to fuel further development, enabling Panelmatic to meet increasing client demands for larger control units and to boost overall production volume, solidifying its competitive advantage.
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