What Multi-Panels does

Multi-Panels, Inc. is a privately held Massachusetts-based manufacturer of magnesium oxysulfate (MOS MgO) cement panels for structural, fire-resistance, and acoustic applications in commercial, multifamily, and industrial construction. The company sells four registered product lines — NOCOM® Structural Cement Board (¾-inch tongue-and-groove subfloor/roof panels), M4™ Underlayment (½-inch fire-rated floor underlayment), M4™ Structural Wall Sheathing, and FRB™ Fire-Restrictive Barrier (⅛-inch exterior wall upgrade) — all built around a chloride-free MOS formulation reinforced with heavy-weight alkaline-resistant fiberglass mesh and certified by UL, ICC-ES, QAI, and Intertek for fire, structural, and acoustic performance.

The underlying technology addresses three persistent construction pain points: fire code compliance (1- and 2-hour UL-rated assemblies), acoustic separation between units (STC/IIC ≥55), and schedule compression (dry installation with no cure time). Each product is differentiated against conventional MgO boards by the absence of chloride, which eliminates corrosion risks, and by third-party batch testing prior to shipment. The portfolio is noncombustible per ASTM E136, achieves a 10/10 mold-resistance score per ASTM D3273, and is free of silica, asbestos, formaldehyde, and VOCs.

Multi-Panels operates a hybrid go-to-market combining direct technical sales (phone, Request Quote form, blog, newsletter, LinkedIn, trade shows such as World of Modular) with authorized distributor relationships including Badgerland Supply. Pricing is quote-based and not publicly disclosed. The company is incorporated in Massachusetts with its headquarters at 1900 W Park Drive, Westborough, MA, operates 11-50 employees, and has no disclosed institutional funding, parent company, or M&A activity. Documented end-customer projects include the Wealthy & Sheldon Apartments in Grand Rapids, MI (Q4 2023, 45,000 SF), the Uline Warehouse in Kenosha, WI (Q1 2025, 60,000 SF), and the Brynwood at Wilderness Ridge luxury residences.

Name

Multi-Panels

Legal name

Multi-Panels, Inc.

Website

https://multi-panels.com

Company type

Private

Operating status

Operating

Headcount range

11–50 employees

Short description

Multi-Panels, Inc. is a privately held Massachusetts-based manufacturer of magnesium oxysulfate (MOS MgO) cement panels — NOCOM, M4, and FRB product lines — providing fire-rated, structural, and acoustically certified subfloor, underlayment, wall sheathing, and fire barriers for multifamily, commercial, industrial, and modular construction projects.

Ownership category

akta.pro rank

Product category

Building Materials

NAICS

Cement and Concrete Product Manufacturing (3273)

SIC

Concrete, Gypsum & Plaster Products (3270)

akta.pro primary industry

Fire-Resistant, Moisture-Resistant & Specialty Performance Boards (IMADAEAJ)

Keywords

• Magnesium oxysulfate panels
• Structural cement boards
• Fire-rated subfloor panels
• MgO wall sheathing
• Fire-restrictive barriers

Headquarters

HQ city

Florida

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

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

Revenue model

1. Cement Panel Product Sales: Multi-Panels generates revenue through the sale of structural cement boards (NOCOM, M4, FRB) to construction companies, contractors, and builders. Products are sold as building materials for floor, wall, and roof assemblies in commercial and multifamily construction projects.
2. Technical Support Services: The company provides technical support including installation guides, span/load tables, and certification listings as part of their product offering to assist with specification and design.

Go-to-market motion1 record

Distribution channels2 records

Marketing channels5 records

Core offering

Multi-Panels manufactures proprietary magnesium oxysulfate (MOS MgO) cement panels — NOCOM® Structural Cement Board, M4™ Underlayment, M4™ Structural Wall Sheathing, and FRB™ Fire-Restrictive Barrier — for use as subfloor, underlayment, wall sheathing, and exterior wall fire upgrade components in commercial, multifamily residential, industrial, and modular construction. The panels deliver certified 1- and 2-hour fire ratings, STC/IIC acoustic ratings ≥55, mold and corrosion resistance, and dry-installation (no cure time) benefits for architects, contractors, builders, and modular manufacturers.

Product overview

Multi-Panels is a manufacturer of magnesium oxysulfate (MOS MgO) cement panels designed for structural performance, fire resistance, and acoustic control in construction applications. The product portfolio consists of four core offerings: NOCOM® Structural Cement Board for subfloor and roof applications, M4 Underlayment for fire-rated floor systems, M4 Structural Wall Sheathing for fire-rated wall assemblies, and FRB Fire-Restrictive Barrier for exterior wall fire upgrades. All products feature dry installation without curing delays, are noncombustible, and are certified by UL, ICC, QAI, and Intertek for fire, structural, and acoustic performance.

Differentiator

Problem solved

Functional benefit

Brands

• NOCOM: Structural cement board product line for fireproof subfloor and roof panels with tongue-and-groove configuration.
• M4
• FRB

Products and services

• NOCOM® Structural Cement Board ¾-inch tongue-and-groove structural fireproof cement board for subfloor and roof applications, tested and certified for structural, fire (1- and 2-hour), and acoustic (STC/IIC ≥55) performance. Used by architects, contractors, and modular builders in commercial, multifamily, and industrial construction over wood and steel framing.
• M4™ Underlayment ½-inch panel for fire-rated and acoustically tested floors that replaces poured toppings; ready for loading and finish flooring once installed, eliminating cure delays. Used in luxury residential, multifamily, and commercial projects.
• M4™ Structural Wall Sheathing Noncombustible structural sheathing for 1-hour fire-rated wall assemblies with moisture resistance and balanced fire designs. ICC-recognized for structural and shear wall performance, suitable for Types I-V construction.
• FRB™ Fire-Restrictive Barrier ⅛-inch panel that upgrades typical exterior wood-framed walls to 1-hour fire resistance while meeting weather barrier requirements. Used in retrofit and new construction applications.

Quantifiable outcome

• STC and IIC acoustic ratings of 55 or greater
• +3 more outcomes

Named customers3 records

Segments5 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Eight partnerships are on record, tiered core and minor.

• Badgerland SupplycoreChannel Partner/ Reseller/ DistributorAuthorized building material distributor supplying Multi-Panels NOCOM Structural Subfloor products. Supplied approximately 60,000 SF of 3/4" NOCOM for the Uline Warehouse project in Kenosha, WI in Q1 2025.
• Maxam ArchitectureminorOthersArchitecture firm for the Wealthy & Sheldon Apartments project in Grand Rapids, MI. 58-unit mixed-use multifamily development where 45,000 SF of NOCOM Structural Subfloor was installed.
• Cella Building CompanyminorOthersBuilder for the Wealthy & Sheldon Apartments project in Grand Rapids, MI. Multi-family development completed in Q4 2023 using NOCOM Structural Subfloor.
• Bouma CorporationminorImplementation/ SI/ Consulting PartnerInstalling contractor for the Wealthy & Sheldon Apartments project in Grand Rapids, MI. Performed installation of 45,000 SF of NOCOM Structural Subfloor in Q4 2023.
• UL (Underwriters Laboratories)coreTechnology or IntegrationThird-party testing and certification agency. NOCOM products are included in multiple UL Classified Assemblies (UL File R39761) for 1- and 2-hour fire-rated floor/ceiling designs. Manufacturing facilities audited multiple times per year.
• QAI (Quality Assurance Institute)coreTechnology or IntegrationIndependent third-party testing and certification agency (IAS Accredited & IBC Recognized). QAI Certified NOCOM products per ASTM E136 (Noncombustibility), ASTM E84 (Class A), ASTM E119 (1- and 2-Hour Fire Assemblies), ASTM E455 (Structural Diaphragm Testing). Listing B1136-1.
• IntertekcoreTechnology or IntegrationIndependent third-party acoustic testing agency. Conducted STC and IIC acoustic testing of NOCOM assemblies with common floor finishes (carpet, LVT, ceramic tile). Results published in MPI's Fire & Acoustic Guidebook.
• ICC Evaluation ServicecoreTechnology or IntegrationInternational Code Council Evaluation Service providing IBC-recognized certification for NOCOM structural and shear wall assemblies. Recognized for use in Types I-V construction requiring non-combustible materials.

Scale indicators5 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• CertainTeed (Saint-Gobain): CertainTeed's gypsum and cement-board lines, plus its SilentFX acoustic products, overlap with Multi-Panels' fire-rated and acoustic-control positioning in multifamily and commercial wall/floor assemblies.
• National Gypsum Company: National Gypsum manufactures gypsum board and specialty cementitious panels (e.g., PermaBase cement board) with Type X fire ratings, competing head-to-head with Multi-Panels in multifamily and commercial subfloor/wall applications.
• Georgia-Pacific (DensDeck / DensElement): Georgia-Pacific's DensDeck and DensElement roof cover board and sheathing are widely specified noncombustible panels with UL fire ratings, competing for the same architect-specified assemblies Multi-Panels targets with NOCOM and M4.
• USG Corporation (USG Sheetrock / Durock): USG is the dominant North American drywall and cement-board manufacturer (Durock is a leading cement backerboard). It competes with Multi-Panels across fire-rated subfloor, wall sheathing, and underlayment applications via deep Pro-channel distribution that Multi-Panels lacks.
• Knauf Group: Knauf is a global gypsum and insulation manufacturer with fire-rated drywall and shaftliner products that compete with Multi-Panels in Type I-V construction wall and floor assemblies, especially given its growing North American presence.
• James Hardie Building Products (HardieBacker): James Hardie's HardieBacker cement board and structural sheathing lines directly substitute for Multi-Panels' M4 and NOCOM in fire-rated floor and wall assemblies. As a large publicly-traded fiber-cement incumbent, it dwarfs Multi-Panels in manufacturing scale, brand recognition, and distribution.

Direct peers

• MagMatrix Structural Panels: MagMatrix is one of the closest direct peers to Multi-Panels, also manufacturing MgO-based structural panels for subfloor, wall, and roof sheathing applications targeting multifamily and commercial fire-rated construction.
• Huber Engineered Woods (ZIP System): Huber's ZIP System structural sheathing and AdvanTech subfloor panels are direct functional competitors to Multi-Panels' M4 wall sheathing and NOCOM subfloor in code-compliant, weather-resistant assemblies for residential and multifamily construction.
• DragonBoard / Huaxia MgO Board: DragonBoard is an MgO panel manufacturer serving North American construction with structural sheathing and subfloor products that overlap directly with NOCOM and M4 in use cases and target specifier base.

Peers

• MarinoWARE (steel framing partner ecosystem):

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/multi-panels-corporation

Compliance8 records

Revenue estimate

Valuation estimate

Number of profiles

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 Multi-Panels