What is Panelmatic?
Founded in 1957, Panelmatic has established itself as a critical player in the manufacturing of custom-built electrical and process instrument control panels. The company serves a diverse array of clients within the industrial utilities market, providing essential infrastructure that powers complex operational environments. With over six decades of industry experience, Panelmatic has demonstrated a robust ability to adapt to shifting market forces and technological advancements.
The company's current market position is defined by its commitment to precision engineering and its recent strategic pivot toward expanded manufacturing capabilities. By establishing the PBS division in a 73,000 square-foot facility in Brookfield Township, Panelmatic is significantly increasing its throughput capacity. This move not only addresses previous space limitations at its Boardman facility but also signals a long-term commitment to regional economic development and industrial excellence.
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
Key Investors in Panelmatic
PPP
Public-Private Partnership
What's next for Panelmatic?
Looking ahead, Panelmatic is poised to leverage its expanded footprint to accelerate production cycles and enhance its service delivery for large-scale utility projects. The integration of the new Brookfield Township facility is expected to drive significant operational efficiencies, allowing the company to manufacture a higher volume of units simultaneously. This strategic growth trajectory is supported by collaborative efforts with regional economic development partners, including JobsOhio and Team NEO, which have provided essential support for machinery and equipment procurement.
As the company scales its workforce and production capacity, the focus will remain on maintaining the high standards of quality that have defined its reputation since 1957. The infusion of capital provides the necessary runway to explore further market penetration and potentially diversify its product offerings within the industrial control sector, ensuring sustained growth in an increasingly competitive landscape.
