Panelmatic is planting a bigger flag in Texas, closing on a sizable industrial campus in Conroe for $20.7 million. The fully occupied, 183,600-square-foot facility will serve as an owner-user manufacturing site, giving the company a built-for-production home base. Built in 2012 just east of Interstate 45, the property is packed with heavy industrial infrastructure that is tailor-made for a serious manufacturing operator.
Deal details
As reported by CoStar, Panelmatic, which was acquired by private-equity firm Neos Partners in January 2025, bought the building at 3212 Old Highway 105 E from Protect Controls for $20.7 million. CoStar described the deal as a fully occupied owner-user sale that was listed on March 25, 2026.
Property details
Marketing materials show the single-story manufacturing campus totals about 183,600 square feet on roughly 29.64 acres. The site includes roughly 130,900 square feet of crane-served production space, two ventilated paint booths totaling about 20,300 square feet, a 20-ton overhead bridge crane and more than two dozen drive-in doors. Broker materials and the public listing note that the property was marketed specifically to heavy industrial and owner-occupant buyers, per the marketing on LoopNet.
Who is Panelmatic?
Panelmatic, a producer of electrical control panels and related equipment, was taken over by Neos Partners in January 2025, according to a corporate deal tracker. Neos' recent SEC filings list Panelmatic among its portfolio companies as the firm pursues consolidation in power and industrial manufacturing, which helps explain the appetite for owner-user manufacturing capacity in Texas.
Local impact and market context
Protect Controls has long operated from the Old Highway 105 campus, and the Conroe Economic Development Council lists the company at that address, underscoring the seller's local footprint. The transaction fits into a broader Houston-area trend in which strategic owner-user purchases sit alongside growing speculative supply and more restrained leasing fundamentals, according to recent regional market notes.
Brokers and what's next
CoStar's coverage lists Cushman & Wakefield and Colliers representatives among the contacts tied to the listing and sale, reflecting how the building was pitched squarely at manufacturing users. For now, the purchase keeps a heavy-manufacturing plant in the hands of a production operator. Any operational changes, new permits or hiring tied to Panelmatic's move are likely to surface in local filings and company announcements in the weeks ahead.
