A follow-up to our announcement that American Insulated Panel was named 2026 SBA Massachusetts Small Manufacturer of the Year.
On May 8, 2026, American Insulated Panel President Andrew Massard and Vice President Mike Starr attended the SBA Massachusetts Annual Awards Ceremony at the Newton Marriott to officially accept the 2026 Small Manufacturer of the Year award. The room included eleven honorees from across the state, and AIP was recognized alongside SBA partners from Webster Bank, MassMEP, and the SBA New England regional office.
Shortly after, the SBA released a short video featuring Andrew and Mike. It’s worth watching. They talk through what AIP actually does day-to-day, how they came to own the company, and what they’d tell someone considering the same path.
Here’s what stood out.
What AIP Does — and What Makes Them Different
The video opens with a practical example: a door headed out to a new grocery store in Brockton, one of six new walk-in coolers and freezers going into the facility. Meat. Crab. Dairy. Walk-in freezer in the back.
That kind of project is typical for AIP. The company works with end users, mechanical contractors, and general contractors across New England and into the Mid-Atlantic. What’s less typical is how AIP handles it. Most companies in this space will sell you the panel package and subcontract the installation. AIP doesn’t do that.
“We’re one of the only, if not the only company that actually does the manufacturing and the installation,” said Andrew. “A lot of other companies will sell you the package and farm out all the installs. We have our own people doing it.”
That model matters for customers. When the same team that built the panels installs them, there’s no handoff problem, no finger-pointing if something doesn’t fit right, and no managing a second subcontractor on a job that’s already complex enough. Learn more about AIP’s design, manufacturing, and installation services.
How They Acquired the Company
AIP was founded decades before Andrew and Mike came into the picture. They acquired it in August 2023 using an SBA 7(a) loan — a path they’d both researched carefully before pulling the trigger.
For Andrew, the idea took shape through a combination of sources: a neighbor who had used SBA financing to buy a business, the Acquired Minds podcast, and the Harvard Business Review guide on entrepreneurship through acquisition. The 7(a) program is the structure that ties it all together — it’s how operators who aren’t sitting on a pile of capital can buy an established business with real cash flow.
“The SBA and the banks will help you get to the closing table,” said Andrew. “But then you’re in the seat afterwards.”
Mike’s experience with the loan process itself was worth noting. The 7(a) has more requirements upfront than a conventional loan — more paperwork, more documentation. But post-close, it’s been straightforward. “You’re not dealing with covenants,” he said. “The business runs as it does, and the bank basically says, if you’re making payments, you’re doing it properly.”
Webster Bank and SVP Kathleen Kelly supported the deal and later nominated Andrew and Mike for the award.
What They’d Tell Entrepreneurs
SBA District Director Keegan Shepardson asked both of them what advice they’d give someone who hasn’t yet gone through the 7(a) process. Their answers were different and both useful.
Andrew’s: understand the path before you commit to it. The 7(a) program has a set process, and you can make small adjustments, but you need to know what the current state of that program looks like before you apply it to a specific acquisition opportunity. Podcasts, books, and staying current on how the program works will make you a better buyer.
Mike’s: the closing is the starting line, not the finish line. “Operating the business is harder and more permanent,” he said. He’d put as much energy into understanding post-close operations — what running the business actually looks like — as you put into securing the financing.
AIP is still based in Taunton, still manufacturing every panel in-house, and still taking the same approach that earned the award: build quality panels, install them with your own team, and show up for the customer at every step. If you have a cold storage project coming up and want to talk through the scope, contact AIP here.
