Massachusetts Capital Resource Co.

MASSACHUSETTS CAPITAL RESOURCE COMPANY was established in 1977 as a limited partnership privately owned and funded by Massachusetts-based life insurance companies. The Company’s mission was to create a source of risk capital to fill the senior debt to equity funding “gap” experienced by growing companies. Their investment activity complements, rather than competes with, the financing provided by senior lenders and equity investors. Mass. Capital provides higher risk growth and acquisition capital to manufacturing, distribution, service and technology companies. They focus on emerging growth and middle market companies with operations in Massachusetts. Their investments are structured to fit the specific needs of portfolio companies and to complement funding available from senior lenders and equity investors.

Paul Bolger

President

Daniel Corcoran

Managing Director

Andrew DeLorey

Vice President

Suzanne L. Dwyer

President

24 past transactions

Full Spectrum

Acquisition in 2021
Full Spectrum Software, Inc. designs and develops software to develop and approve algorithms for the detection and analysis of encephalographic signal to determine a patient's level of sedation. Full Spectrum Software, Inc. was incorporated in 1996 and is based in Southborough, Massachusetts.

NOBULL

Debt Financing in 2020
NOBULL is a Boston-based company specializing in athletic footwear, apparel, and accessories for men, women, and children. Founded in 2014, the company offers a diverse range of products, including trainers, knit runners, tees, shorts, tanks, hoodies, lifters, duffle bags, backpacks, and caps, catering to various styles and preferences. NOBULL operates both retail stores in New York and Boston and an online platform, enabling customers to access the latest trends in sports apparel. In addition to its product offerings, the company features short films on its website through NOBULL TV, enhancing its engagement with the athletic community.

Packaging Technology Group

Debt Financing in 2020
Packaging Technology Group, Inc. manufactures and designs thermal packaging solutions. It offers standard and custom designed packaging solutions. Its products include TRUEtemp naturals cellulose shippers, TRUEtemp vip, polyurethane (PUR) containers, carboy shippers, expanded polystyrene (EPS) molded containers, hydrosleeves (Gel Phase Change Materials), and coolbrick. The company serves biotech, bio-pharmaceutical, life sciences, and medical industries. The company was founded in 2005 and is based in Fall River, Massachusetts.

Saylent Technologies

Debt Financing in 2020
Saylent Technologies, Inc. develops software solutions for debit card portfolio management and analytics, specifically tailored for financial institutions. The company's key offerings include Saylent Engage, which utilizes automated and machine learning techniques to identify revenue opportunities and recommend actions; Saylent Reward, which analyzes customer financial activities to enable tailored product offerings; and Saylent Explore, which converts transaction data into actionable insights to combat fraud. These solutions are designed to help banks, credit unions, and financial service providers enhance customer attraction and retention through data-driven insights. Saylent Technologies operates through a cloud platform and has established distribution partnerships with processors and core platform suppliers both in the United Kingdom and internationally. Founded in 2006 and headquartered in Boston, Massachusetts, Saylent Technologies aims to empower its clients with effective tools for banking and marketing.

Xtalic

Debt Financing in 2019
Xtalic Corporation, founded in 2005 and based in Marlborough, Massachusetts, specializes in the development, manufacture, and sale of advanced metal alloys designed to offer corrosion and wear resistance for various applications, particularly in mobile and enterprise electronics. The company provides innovative products such as XTRONIC, a barrier layer that enhances performance by resisting wear and corrosion, and LUNA, an alternative to gold finishes for electrical connectors. Xtalic's technology is characterized by its unique nanostructured metal coatings, which are produced through a robust electroplating process that allows for precise control at the nanometer scale. This approach not only improves the performance and aesthetic qualities of the coatings but also eliminates the use of hexavalent chromium, thereby minimizing environmental compliance costs and improving worker safety.

Emphysys

Private Equity Round in 2019
Emphysys, Inc. specializes in the design and development of multi-modal energy generation systems and software control solutions, primarily targeting the semiconductor capital equipment and medical device sectors. Established in 2009 and located in Woburn, Massachusetts, the company utilizes advanced multiphysics modeling and simulation tools to enhance product performance, focusing on areas such as medical device modeling, RF heating and ablation, acoustics, and plasma modeling. Emphysys offers a comprehensive suite of services, including technical consulting and technology development, which guide clients from concept through to mature system prototypes. The company’s expertise ensures that products meet critical cost, performance, manufacturability, and reliability standards. Emphysys operates as a subsidiary of Paramit Corporation, reinforcing its commitment to providing innovative solutions that enhance the performance and reliability of complex products and processes.

Pure Incubation

Debt Financing in 2017
Pure Incubation LLC provides lead generation and database services to accelerate the sales process. The company offers technology-enabled lead generation, develops and executes inbound marketing strategies for revenue generation, social marketing, retargeting/online advertising, search optimization, online PR, and content marketing services. It also provides demand generation solutions for businesses to reach, engage, and convert their customers. The company caters to B2B and healthcare industries. Pure Incubation LLC was founded in 2007 and is based in Topsfield, Massachusetts.

Marshall Paper Tube

Debt Financing in 2017
Marshall Paper Tube Co., Inc. is a manufacturer and distributor of custom paper packaging materials, established in 1948 and located in Canton, Massachusetts. The company offers a diverse range of products, including mailing tubes, cardboard and telescoping tubes, cores, and shipping containers, as well as specialized items such as paint rollers, display poles, and various types of plugs. Additionally, Marshall Paper Tube provides services such as sealing, labeling, and shipping to support its clients. The company primarily serves the roofing, automotive, and textile industries, ensuring that customers have access to quality packaging solutions tailored to their needs.

Network Allies

Debt Financing in 2017
Network Allies, LLC specializes in the design, development, deployment, and support of application-specific computing systems. The company offers a range of products including embedded systems, military and aerospace systems, network and storage appliances, as well as rugged tablets and various cable adapters. In addition to product offerings, Network Allies provides comprehensive system integration services such as new product introduction, process development, material sourcing, and regulatory certification. Its engineering and design services encompass technology assessment, system design, prototyping, and interoperability testing. The company also delivers logistics and support services including supply chain management and depot repair. Network Allies serves original equipment manufacturers and independent software vendors, allowing them to concentrate on their core activities while reducing total ownership costs. Founded in 2002 and based in North Andover, Massachusetts, Network Allies maintains a strategic partnership with Ka Hoku Ala, LLC.

Rypos

Debt Financing in 2017
Rypos, Inc. is a privately owned company based in Franklin, Massachusetts, specializing in the development and manufacturing of active emissions control systems designed to reduce harmful emissions from diesel engines. Founded in 1996, the company produces diesel particulate filters that utilize patented technology for efficient and reliable electric regeneration of filter cartridges. Rypos serves a variety of sectors, including power generation, transport refrigeration, rail, marine, and mining, catering to both original equipment manufacturers and aftermarket customers. Their products are distributed through a network of dealers worldwide. The company is committed to advancing its technology through ongoing research and development to expand its applications across different markets.

Valet Park of America

Debt Financing in 2016
Valet Park of America, Inc. provides transportation and parking management services. The company offers employee shuttles, off-site shuttles, airport transit, and private charter services; and valet parking services. It serves hospitals, hotels, universities, municipalities, airports, casinos, restaurants, ski resorts, private charter sectors, special events, hospitals, hotels, and casinos and restaurants; and shuttle service, event parking, and other industries. The company was founded in 1990 and is based in Springfield, Massachusetts.

Harbar

Private Equity Round in 2016
Harbar LLC produces and markets tortillas and specialty flatbreads for the food service, CPG, and retail markets in the United States and internationally. It offers flour and corn tortillas; natural/organic tortilla and wrap products; corn, wheat, and specialty flour tortillas, as well as precut/uncut chips; and uncooked tortillas. The company was founded in 1986 and is based in Canton, Massachusetts.

Pointright

Venture Round in 2015
PointRight provides proprietary post-acute analytics supported by over 40 million patient assessments that improve quality of patient care and enhance operational efficiency of clients.

The Phillips Screw Company

Acquisition in 2015
Phillips Screw Company, Inc. is engaged in designing and engineering fastener products. It offers fasteners and drive systems; aviation fasteners and drive systems solutions for aircraft manufacturers and airline MRO; and micro fasteners and drive systems for computing, telecom, mobile media devices, multimedia, storage, and medical devices; solar, wind, and fuel cell—renewable energy systems; machine and tools; and printing, scanning, and imaging applications. It serves aerospace, automotive, DIY and trade, electronics, industrial, marine, military and header tools, and gauging markets worldwide. The company was founded in 1933 and is based in Burlington, Massachusetts. Phillips Screw Company, Inc. is a former subsidiary of Rule Industries, LLC.

MedTouch

Private Equity Round in 2015
MedTouch LLC operates as a healthcare focused digital agency. The company specializes in the areas of custom content, digital strategy, digital UX/design, enterprise CMS, and service line marketing, as well as real-time personalization that enhances patient engagement and streamlines conversions. It serves healthcare and health plan organizations. MedTouch LLC was founded in 2004 and is based in Somerville, Massachusetts with an additional office in Cedar Rapids, Iowa.

Dynasil

Venture Round in 2012
Dynasil Corporation of America focuses on developing, manufacturing, and marketing detection, sensing, and analysis technology, as well as optical components. The company operates through three main segments: Optics, Innovation and Development, and Biomedical. The Optics segment offers synthetic crystals, optical materials, and components for various applications, including baggage scanners, medical imaging systems, and automotive components, serving sectors such as medical, industrial, and homeland security. The Innovation and Development segment creates advanced technologies in materials and sensors for detecting radiation, light, magnetism, or sound, aimed at security and industrial uses. The Biomedical segment is involved in developing tissue sealant products. Dynasil distributes its offerings through a combination of direct sales and partnerships with distributors and manufacturers. Founded in 1960 and headquartered in Newton, Massachusetts, the company emphasizes innovation and technology to enhance its competitiveness in global markets.

MagneMotion

Debt Financing in 2006
MagneMotion, Inc. specializes in the development and manufacturing of linear synchronous motor (LSM) products and systems that cater to assembly automation, material handling, and transportation applications. The company offers a range of LSM propulsion and control systems, including heavy-duty solutions for transporting various loads, such as gantry systems, cargo load/unload systems, and vertical lifts. Additionally, MagneMotion provides custom designs that accommodate different operational requirements, such as radius turns and vehicle control. The company also delivers design consulting services related to various aspects of LSM technology, including position sensing and magnetic levitation. Its client base includes the United States military, government agencies, and companies in the consumer products and pharmaceutical sectors. Founded in 1996 and based in Devens, Massachusetts, MagneMotion operates as a subsidiary of Rockwell Automation.

MagneMotion

Private Equity Round in 2006
MagneMotion, Inc. specializes in the development and manufacturing of linear synchronous motor (LSM) products and systems that cater to assembly automation, material handling, and transportation applications. The company offers a range of LSM propulsion and control systems, including heavy-duty solutions for transporting various loads, such as gantry systems, cargo load/unload systems, and vertical lifts. Additionally, MagneMotion provides custom designs that accommodate different operational requirements, such as radius turns and vehicle control. The company also delivers design consulting services related to various aspects of LSM technology, including position sensing and magnetic levitation. Its client base includes the United States military, government agencies, and companies in the consumer products and pharmaceutical sectors. Founded in 1996 and based in Devens, Massachusetts, MagneMotion operates as a subsidiary of Rockwell Automation.

Harmonix Music Systems

Acquisition in 2005
Harmonix Music Systems, Inc. is a video game development studio founded in 1995 and based in Cambridge, Massachusetts. The company specializes in music-oriented games, allowing users to engage with music through interactive gameplay across various platforms, including console, PC, and mobile. Harmonix is best known for its successful franchises such as Rock Band and Dance Central, as well as its role in developing the original Guitar Hero series. The studio aims to provide a unique experience that enables both musicians and non-musicians to enjoy the creative process of making music through gaming.

Artel Video Systems

Series B in 2000
At Artel, they recognize the changes and leveraged their 30 years of video transport experience to develop DigiLink, a reliable and simple-to-deploy media transport platform designed to take advantage of newer networks. The result is a space efficient, low power, easy-to-deploy and manage platform with thousands of successful deployments worldwide and an unparalleled reputation for reliability. DigiLink is also the most flexible platform on the market integrating video and Ethernet routing with fiber, IP, and optical network transport capabilities. DigiLink combined with their long history of exceptional customer service, and free lifetime technical support and training make Artel the ideal partner for your media transport needs.

Artel Video Systems

Series A in 1999
At Artel, they recognize the changes and leveraged their 30 years of video transport experience to develop DigiLink, a reliable and simple-to-deploy media transport platform designed to take advantage of newer networks. The result is a space efficient, low power, easy-to-deploy and manage platform with thousands of successful deployments worldwide and an unparalleled reputation for reliability. DigiLink is also the most flexible platform on the market integrating video and Ethernet routing with fiber, IP, and optical network transport capabilities. DigiLink combined with their long history of exceptional customer service, and free lifetime technical support and training make Artel the ideal partner for your media transport needs.

Exa Corporation

Venture Round in 1996
Exa Corporation specializes in the development, sale, and support of simulation software and services primarily for vehicle manufacturers globally. The company offers a comprehensive suite of tools designed to address complex fluid flow, thermal management, and acoustic challenges. Key products include PowerFLOW for fluid dynamics simulations, PowerTHERM for thermal predictions, and PowerACOUSTICS for noise analysis. Additionally, Exa provides several applications for simulation preparation, analysis, and visualization, such as PowerINSIGHT and PowerVIZ, along with cloud-based solutions through ExaCLOUD. These tools enable manufacturers to optimize product performance, reduce development costs, and enhance design efficiency, particularly in response to increasing regulatory and consumer demands for improved environmental performance. Exa serves a diverse range of industries including aerospace, oil and gas, and biomedical, utilizing direct sales and partnerships. Founded in 1991 and headquartered in Burlington, Massachusetts, Exa Corporation is a subsidiary of Dassault Systèmes Simulia Corp.

Aspen Technology

Venture Round in 1986
Aspen Technology, Inc. is a provider of asset optimization solutions that operates globally across North America, Europe, the Asia Pacific, Latin America, and the Middle East. The company is divided into two segments: Subscription and Software, and Services and Other. Its integrated software, known as aspenONE, includes applications designed for engineering, manufacturing, supply chain management, and asset performance. These applications help industries optimize their design, operations, and maintenance processes by employing proprietary models for chemical manufacturing. Key products include Aspen Plus for process modeling, Aspen InfoPlus.21 for production management, and various scheduling tools for supply chain optimization. Aspen Technology serves a diverse range of industries, including energy, chemicals, pharmaceuticals, food and beverage, and others that rely on capital-intensive processes. In addition to software solutions, the company offers maintenance, training, and professional services to support its clients. Founded in 1981, Aspen Technology is headquartered in Bedford, Massachusetts.
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