Panel Masters Inc. Company Profile

Background

Panel Masters Inc., established in 2001, is a family-owned and operated concrete construction company based in Lafayette, Colorado. Specializing in tilt-up panels and cast-in-place foundations for the commercial building industry, the company has grown to become one of the leading producers of tilt-up panels in Colorado. Notably, it was the first in the state to receive certification from the Tilt-Up Concrete Association (TCA) as an architectural tilt-up contractor. The company's mission is to provide quality work, reliability, and exceptional customer service, adhering to core values that emphasize skilled and motivated teamwork.

Key Strategic Focus

Panel Masters Inc. focuses on delivering comprehensive concrete construction services, including:

Tilt-Up Panels: Offering full-service solutions from panel design consulting to erection for projects of varying sizes.

Foundations: Providing cast-in-place foundation work such as grade beams, spread footings, caisson placement, stem walls, and retaining walls.

Pre-Construction Services: Engaging in meticulous planning and coordination during the pre-construction phase to ensure project efficiency.

Estimation Services: Delivering competitive cost estimations based on project drawings and specifications.

The company primarily serves the Colorado Front Range, from Fort Collins to Colorado Springs and east to Strasburg, targeting the commercial building industry.

Financials and Funding

Panel Masters Inc. operates as a private company with estimated annual revenues between $1 million and $10 million. The company has not publicly disclosed specific funding history or details regarding recent funding rounds.

Pipeline Development

As a construction service provider, Panel Masters Inc. does not maintain a traditional product pipeline. However, the company has undertaken notable projects, such as the construction of its new headquarters in Lafayette, Colorado. This 13,177-square-foot Thermomass mixed-use building showcases multiple patterns of reveal and an intricate installation of thin brick in a herringbone pattern, highlighting the company's expertise in tilt-up construction.

Technological Platform and Innovation

Panel Masters Inc. distinguishes itself through its proficiency in tilt-up construction techniques and cast-in-place foundation work. The company's innovative approach is exemplified in its headquarters project, which features unique design elements such as curved vestibule roof panels that integrate seamlessly with vertical panels, demonstrating advanced tilt-up ingenuity.

Leadership Team

The leadership team at Panel Masters Inc. comprises experienced professionals dedicated to upholding the company's mission:

Joel Grosshans: CEO and Owner, leading the company with a focus on quality and customer service.

Jennifer Grosshans: Vice President, overseeing various operational aspects.

Mark Thaler: Human Resources, managing employee relations and organizational development.

Aaron Bagwell: Head Estimator, responsible for project cost estimations and compliance with contract documents.

Bob Dinkel: Project Assistant, supporting project management activities.

Alex Grosshans and Zack Womack: Pre-Construction Team members, involved in planning and coordination during the pre-construction phase.

Leadership Changes

In 2019, leadership transitioned from founder Ray Grosshans to his son, Joel Grosshans, who assumed the role of CEO and Owner. This change marked a commitment to offering a fresh perspective while maintaining the company's core values.

Competitor Profile

Market Insights and Dynamics

The concrete construction industry, particularly in the Colorado Front Range, is characterized by steady demand driven by commercial and industrial development. The tilt-up construction method has gained popularity due to its cost-effectiveness and efficiency, positioning companies like Panel Masters Inc. favorably in the market.

Competitor Analysis

Key competitors in the region include:

Concrete Frame Associates: Specializes in concrete formwork and structural concrete services.

Rocky Mountain Prestress: Offers precast and prestressed concrete solutions.

Saunders Construction: Provides comprehensive construction management and general contracting services.

These competitors focus on various aspects of concrete construction, with some specializing in precast solutions and others offering broader construction management services.

Strategic Collaborations and Partnerships

Panel Masters Inc. collaborates with general contractors and developers to deliver high-quality concrete construction services. The company's membership in the Tilt-Up Concrete Association since 1997 underscores its commitment to industry standards and best practices.

Operational Insights

The company's strategic focus on tilt-up construction and cast-in-place foundations, combined with its emphasis on pre-construction planning and quality execution, provides a competitive advantage. The low turnover rate among field staff fosters a cohesive team environment, enhancing project efficiency and client satisfaction.

Strategic Opportunities and Future Directions

Panel Masters Inc. is well-positioned to capitalize on the growing demand for efficient and cost-effective construction methods in the commercial sector. By leveraging its expertise in tilt-up construction and maintaining a commitment to quality and innovation, the company can expand its market presence and explore new project opportunities within and beyond the Colorado Front Range.