Taunton-based American Insulated Panel Manufactures and Installs Custom Cold-Storage Solutions
SBA 7(a) financing helps entrepreneurs acquire and grow a Massachusetts manufacturer
When Andrew Massard and Michael Starr acquired American Insulated Panel (AIP) in 2023, they saw an opportunity to preserve a long-standing small business while positioning it for sustainable growth.
With support from an SBA 7(a) loan and line of credit from Webster Bank, Massard and Starr purchased the Taunton-based company and began investing in its future. AIP’s combination of custom manufacturing and specialty construction aligned closely with the partners’ experience. Massard brought a background in specialty construction – while Starr led small business turnarounds, grew, and successfully sold ventures.
“My neighbor used the SBA 7(a) to buy a business,” said AIP President Andrew Massard. “Mike had also been talking about doing something ourselves. After learning about the SBA 7(a) route from my neighbor, listening to the Acquiring Minds podcast, and reading articles from the Harvard Business Review, it all came together. We realized this was a well-trodden path for acquiring a business.”
Made in Massachusetts
American Insulated Panel designs, manufactures, and installs high-performance insulated metal panel systems for commercial and industrial customers. Its custom wall and ceiling panels serve convenience, liquor, and grocery stores; food-processing and manufacturing facilities; cold-storage operations; pharmaceutical and life-science environments; and other applications where thermal performance, sanitation, and durability are essential.
Since acquiring the company, Massard and Starr have made significant investments in AIP’s manufacturing operations. The company added CNC metal-cutting and folding equipment, expanding its capacity to produce precise, custom components more efficiently.
AIP engineers and manufactures every panel at its Taunton facility. Keeping production in Massachusetts allows the company to maintain close control over quality, support skilled manufacturing jobs, shorten lead times, and provide customers throughout the region with a dependable domestic source of specialized building materials.
Investing in Growth
Today, AIP employs more than 30 people. The investments made by Massard and Starr have supported additional manufacturing jobs and helped the company expand its reach beyond New England. While AIP remains firmly rooted in Taunton, its service area now includes customers in parts of New Jersey, New York, and Delaware.
“Having the ability to leverage our years of small business experience and bring that to a company we own was the whole point," said AIP Partner Michael Starr. "The prior owner spent decades building AIP into a business the region depended on. When he was ready to retire, he needed to find a successor that would keep it going. We bought it to run it, not to flip it. Our job is to make sure a Massachusetts manufacturer that's been here for decades is still here decades from now, with more people on the floor than when we found it.”
The company’s growth illustrates how SBA-backed financing can help new owners build on the strengths of an established business while making the investments needed to compete, innovate, and expand.
AIP’s story also demonstrates the role SBA financing can play in supporting business ownership transitions, sustaining domestic manufacturing, and strengthening local supply chains. Through their investment in AIP, Massard and Starr are helping ensure that high-quality insulated panel systems continue to be designed, manufactured, and installed in Massachusetts.
American Insulated Panel was named the SBA’s 2026 Massachusetts Small Manufacturer of the Year during this year’s National Small Business Week. Massard and Starr were nominated for the recognition by Kathleen Kelly, Senior Vice President at Webster Bank.