What Panels Plus does

Panels Plus, founded in 2004 and headquartered in Albert Lea, Minnesota, designs and manufactures semi-automated panelizing equipment used by off-site, modular, and prefabricated building manufacturers to construct wall panels, floor cassettes, and associated subcomponents. The product line centers on modular workstations (Wood Wall Framing Stations, Squaring Stations, Sheathing Stations, Light Gauge Steel Framing and Sheathing Stations, Floor Cassette Stations, and Combo Stations) that can be purchased individually or as fully integrated Production Lines (Interior Hand Framing Line through 3-Table Router Line). The equipment uses indexing tool carriages on V-rail tracks, servo-driven motors, color-coded stud and joist locators, pneumatic tilt tables, and touchscreen controls with programmable presets to drive consistent fastener placement and reduce manual labor. The Platinum Series Automated Sheathing Station, launched in 2021, represents the higher-automation tier and integrates with MiTek's ShopNet software for automated nailing information and multi-code compliance.

The company serves off-site building manufacturers, manufactured home builders, modular builders, portable building producers, and light gauge steel fabricators across North America, with named customers including Grizzly Truss, Annandale Millwork, Frana Companies (18-year relationship), Automated Products Inc., Dayspring Construction, Graceland Portable Buildings, H.M. Stauffer & Sons, and Builders FirstSource. Panels Plus is a 100% employee-owned company operating as one of five manufacturing divisions under parent company Innovance Inc. (which also owns Lou-Rich, ALMCO, Mass Finishing, and Jorgensen Conveyors and reports roughly $80M in revenue across ~400 employee-owners). Revenue is generated primarily through one-time equipment sales (with 10-16 week lead times, custom quotes, and a one-year parts warranty), supplemented by recurring service and maintenance programs with annual hour allotments, customer financing for qualified buyers, and included installation and training by certified technicians. Go-to-market is a hybrid direct enterprise field sales model (with plant layout and line-sizing consultation) supported by a North American distribution partner network, with marketing primarily executed through website content, video, case studies, trade shows (notably BCMC), and a quarterly newsletter.

Name

Panels Plus

Legal name

Panels Plus

Website

https://panplus.com

Company type

Private

Founded year

2004

Operating status

Operating

Headcount range

11–50 employees

Short description

Panels Plus, founded in 2004 and headquartered in Albert Lea, Minnesota, manufactures semi-automated panelizing equipment (framing, squaring, sheathing, and floor cassette stations plus integrated production lines) for off-site, modular, and prefabricated building manufacturers across North America, operating as an employee-owned division of Innovance Inc.

Ownership category

akta.pro rank

Product category

Construction Equipment Manufacturing

NAICS

Electrical Equipment Manufacturing (33531)

SIC

Electrical Industrial Apparatus (3620)

akta.pro primary industry

Industrial Control Panels & Enclosures (Panel Building, MCCs, Integration) (IMAGABAJ)

Keywords

• Panelizing equipment
• Wall panel machinery
• Floor cassette systems
• Prefabricated construction equipment
• Modular building tools

Headquarters

HQ city

Albert Lea

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Equipment Sales: Sale of panelizing equipment including framing stations, squaring stations, sheathing stations, floor cassette stations, production lines, and accessories. Equipment ranges from individual stations to complete production lines.
2. Service & Maintenance Programs: Preventative maintenance, corrective maintenance, safety inspections, and service reports. Flexible plans with annual allotments of service hours available.
3. Financing Services: Financing options available for well-qualified customers to purchase equipment.
4. Installation & Training: On-site installation by certified technician with operator and maintenance training included.

Pricing tiers

Go-to-market motion3 records

Distribution channels2 records

Marketing channels7 records

Core offering

Panels Plus designs and manufactures semi-automated panelizing equipment for constructing wall panels, floor cassettes, and associated subcomponents used by off-site, modular, and prefabricated building manufacturers. The product portfolio includes framing stations, squaring stations, sheathing stations, light gauge steel framing and sheathing stations, floor cassette stations, combo stations, integrated production lines, and accessories such as conveyors, tilt tables, and the Subcomponent Nailer. Equipment is sold with installation, training, and ongoing service and maintenance programs.

Product overview

Panels Plus manufactures semi-automated panelizing equipment for the off-site, modular, and prefabricated building industries. The product portfolio centers on wall panel and floor cassette manufacturing stations and production lines. Core equipment includes Framing Stations (with Locators, Wide Plate, and Non-Clamping variants) that hold components square for fastening; Squaring Stations (standard and with Routing capability) that hold panels during sheathing and opening cutting; Sheathing Stations (Single Beam, Dual Beam, and Platinum Series Automated) that fasten sheathing to panels; Combo Stations (Wood Wall and Shed variants) that combine framing, squaring, and sheathing in one machine; Light Gauge Steel Framing and Sheathing Stations for steel wall panels; and a Floor Cassette Station for floor joist systems. Production Lines integrate multiple stations (Interior Hand Framing Line, Interior Line, Combo Line, 2-Table Line, 3-Table Line, 3-Table Router Line) for complete manufacturing workflows. Accessories include Subcomponent Tables, Pneumatic Tilt Table, Roller/Power Conveyors, Swing Gates, Panel Lift, Handlebar Router, Bulk Cart, Tree Cart, and the recently launched Subcomponent Nailer. The company operates under parent company Innovance and is 100% employee-owned, headquartered in Albert Lea, Minnesota.

Differentiator

Problem solved

Functional benefit

Brands

• Platinum Series: Premium automated equipment line including the Automated Sheathing Station, designed for customers wanting more automation without multi-million dollar price tags.

Products and services

• Framing Station with Locators Holds plates, subcomponents, and studs squarely in place for fastening. Features stud locators at 16" and 24" spacing, indexing tool carriages, and footswitch controls for ergonomic operation. Compatible with lumber from 2x4 to 2x10. For off-site construction manufacturers.
• Wide Plate Framing Station Designed for prefabricated construction businesses using laser projection systems or plate-marking saws. Features projection plates for laser reference and a larger surface for plate and stud placement.
• Non-Clamping Framing Station (Interior Wall Table) Designed for hand framing wall panels. 18' long, closes to 7' and opens to 14'. Ideal for interior wall panel construction and experienced build teams.
• Squaring Station Holds wall panels square while sheathing is tacked in place and rough openings are cut out. Features squaring stops, horizontal rollers, footswitch, and motorized telescoping side. 19' x 14' standard dimensions.
• Squaring and Routing Station Combines squaring station with manual X-Y router bridge for routing out rough openings. Single-person operation. Available in 120v or 230v 3ph. 22' Long x 17'6" Wide.
• Single Beam Sheathing Station Semi-automated station that fastens sheathing to wood wall panels. Features servo-driven motors, single tool carriage, top and bottom plate stitchers, touchscreen with 9 presets, and laser pointer for alignment. 22'L x 18'1"W.
• Dual Beam Sheathing Station Features two tool carriages allowing two different fasteners to be loaded simultaneously for fast changeover. Includes touchscreen with 9 presets, joystick control, and laser pointer alignment. 22'L x 18'1"W.
• Platinum Series Automated Sheathing Station Most automated sheathing station offered. Driven by MiTek ShopNet software, it completely fastens sheathing to studs, blocking, headers, and sill plates. Reduces operator hands-on time. Features automatic crown adjustment, profile rail system, and updated gear racking.
• Wood Wall Combo Station All-in-one system that frames, squares, and sheathes wall panels. Combines combo table, single tool sheathing bridge, and indexing tool carriages. Available with stud locators or wide projection plates. 33' Long x 18'1" wide.
• Light Gauge Steel Framing Station Holds cold-formed steel C-channels, tracks, and subcomponents squarely in place for fastening. Features 2 screw tool carriages with semi-automated screw insertion. 22'L x 16'8"W standard dimensions.
• Light Gauge Steel Sheathing Station

Quantifiable outcome

• Up to 40% less time needed in offsite construction compared to manual labor
• +3 more outcomes

Named customers8 records

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

Feature10 records

Partnerships

Six partnerships are on record, tiered core and minor.

• InnovancecoreStrategic or Co-development Partner · 1 January 2004Panels Plus is one of five manufacturing companies operating under parent company Innovance. Innovance was formed in 2004, combining innovation and performance. Panels Plus operates as an independent business unit within the Innovance family of companies.
• ALMCOminorOthersSister company under Innovance. ALMCO has been in business for over 70 years making industrial metal finishing systems. Both companies are part of the same employee-owned organization based in Albert Lea, MN.
• Lou-RichminorOthersSister company under Innovance. Lou-Rich is an assemblies specialist. Both companies are part of the same employee-owned organization.
• Mass Finishing IncminorOthersSister company under Innovance. Both companies are part of the same employee-owned organization based in Albert Lea, MN.
• MiTekcoreTechnology or IntegrationMiTek's ShopNet software is integrated into the Platinum Series Automated Sheathing Station. ShopNet provides automated sheathing bridge nailing information for greater fastener consistency and accuracy. This integration allows the equipment to accommodate different building codes.
• Distribution PartnerscoreChannel Partner/ Reseller/ DistributorPanels Plus works with trusted distribution partners to reach customers across North America. These partners supplement direct sales efforts and help provide industry coverage.

Scale indicators6 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Weinmann (Homag Group): Weinmann is the leading European manufacturer of automated framing and panelizing equipment for timber construction, offering fully-automated production lines for wall panels, roof elements, and floor cassettes. It is the most direct head-to-head competitor to Panels Plus in the prefab/modular panelizing equipment category, with deeper R&D resources as part of the Homag Group.
• Randek: Randek is a Swedish manufacturer of automated production lines and equipment for prefabricated house manufacturing, including wall, floor, roof, and bathroom module production. It competes directly with Panels Plus in the modular/prefab equipment category, particularly at the high-volume, fully-automated end of the market.
• Hundegger: Hundegger is a German manufacturer of automated timber construction machinery, specializing in CNC-controlled cutting, processing, and assembly equipment for wall elements, roof trusses, and timber framing. It is a direct peer in industrial automation of wood/light-steel framing and competes in similar builder customer segments.
• Weinig: Weinig is a German manufacturer of machines for solid wood processing, including molding, profiling, cutting, and automated timber processing equipment used in mass timber and prefab production. It is a direct peer in industrial automation of wood building components with overlapping customer segments in sawmills and prefab/CLT manufacturing.

Broad incumbents

• Biesse: Biesse is an Italian manufacturer of machinery and systems for processing wood, glass, stone, plastic, and metal, with a broad portfolio of industrial woodworking and panel-processing equipment. It is a broader incumbent that touches adjacent categories to Panels Plus, with greater scale and global reach but less specialization in panelizing for prefab construction.
• Homag Group: Homag Group is the world's leading manufacturer of machines for the woodworking industry and parent company of Weinmann, offering end-to-end solutions for the timber construction and prefabricated building sector. It is a broad incumbent operating across the same prefab/modular construction value chain as Panels Plus, with a much larger product portfolio and global footprint.
• SCM Group: SCM Group is an Italian manufacturer of industrial machinery for woodworking, with a broad product range including panel processing, solid wood processing, and assembly equipment. It is a broader incumbent competing in adjacent categories with greater scale than Panels Plus but with less focus on dedicated prefab wall panel and floor cassette equipment.

Others

• MiTek Industries: MiTek is a US-based supplier of software, engineering, and manufacturing solutions for the building components industry, including the ShopNet software integrated with Panels Plus's Platinum Series. It is a technology/integration partner and adjacent ecosystem participant rather than a direct equipment competitor, but its software platform shapes the broader prefab construction ecosystem in which Panels Plus operates.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/profile.php
• LinkedInlinkedin.com/company/panelsplus

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Panels Plus