Massachusetts Capital Resource

Massachusetts Capital Resource Company, founded in 1977 and based in Boston, Massachusetts, serves as a private investment firm focused on addressing the funding gap for growing companies. The company provides risk capital in the form of mezzanine financing, long-term debt, and equity investments, specifically targeting emerging growth and middle-market firms. Its primary sectors of interest include manufacturing, distribution, service, and technology. By offering tailored investment solutions, Massachusetts Capital complements the financing available from senior lenders and equity investors, thereby supporting the growth and acquisition needs of companies operating in Massachusetts.

Daniel Corcoran

Managing Director

Andrew DeLorey

Vice President

Suzanne L. Dwyer

President

32 past transactions

CELLTREAT Scientific Products

Debt Financing in 2022
CELLTREAT Scientific Products manufactures laboratory plastic consumables that include loop needles, scrapers, bottles, filters, and flasks.

PureHD

Debt Financing in 2022
PureHD delivers leading-edge entertainment solutions customizable to match one's brand promise and budget.

Worcester Air

Debt Financing in 2021
Worcester Air Conditioning is a company that specializes in sheet metal fabrication and installation for commercial and industrial construction projects. It offers comprehensive services that encompass the design, fabrication, and installation of various types of ductwork, including galvanized steel, stainless steel, aluminum, and black iron. These materials are essential for complex air handling, fire safety, and clean-air or laboratory venting systems. By providing high-quality metal works, Worcester Air Conditioning aims to meet the specific needs of its clients in the construction sector.

Full Spectrum

Private Equity Round 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.

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, LLC is a retailer specializing in athleisure footwear, apparel, and accessories for men, women, and children. Established in 2017 and headquartered in Hingham, Massachusetts, the company offers a diverse range of products, including trainers, runners, apparel, lifters, bags, and other accessories. NOBULL operates retail locations in New York and Boston, as well as an online store, providing customers with convenient access to its offerings. Additionally, the company engages its audience by producing and showcasing short films on its website through NOBULL TV.

Packaging Technology Group

Debt Financing in 2020
Packaging Technology Group, Inc. specializes in the manufacture and design of thermal packaging solutions aimed at safeguarding valuable medications and products in the biotech, biopharmaceutical, life sciences, and medical industries. Founded in 2005 and based in Fall River, Massachusetts, the company provides a wide range of standard and custom-designed packaging options, including cellulose shippers, polyurethane containers, expanded polystyrene molded containers, and innovative Phase Change Materials. Packaging Technology Group is dedicated to addressing thermal packaging challenges through a comprehensive approach that includes thermal engineering, state-of-the-art modeling, and a commitment to customer service. The company emphasizes sustainability in its products while ensuring that clients receive effective solutions tailored to their specific needs.

Seque Manufacturing Services

Debt Financing in 2020
Segue Manufacturing Services, LLC is a contract manufacturing and engineering company that specializes in providing services to original equipment manufacturers in various sectors. Founded in 1991 and based in Lowell, Massachusetts, with an additional office in Xiamen, China, the company offers a range of products, including harness and cable assemblies, medical cable assemblies, waterproof cable connectors, electro-mechanical assemblies, custom control panels, power distribution boxes, and battery pack assemblies. In addition to manufacturing, Segue provides contract engineering services, 3D printing, additive manufacturing, and domestic stocking solutions. Its diverse client base includes industries such as medical devices, life sciences, robotics, automation, military and defense, clean energy, and test and measurement equipment. Segue Manufacturing Services was previously known as Cable Designs and Manufacturing Corp. and changed its name in December 2007.

Saylent

Debt Financing in 2020
Saylent Technologies, Inc., established in 2006 and headquartered in Boston, Massachusetts, specializes in developing and delivering debit card portfolio management products and analytics software to financial institutions. The company offers three key solutions: Saylent Engage, an automated, machine learning-based tool that identifies revenue-driving opportunities; Saylent Reward, which analyzes customer financial activities to enable dynamic product offerings; and Saylent Explore, transforming transaction data into actionable behavioral insights and fraud detection. These solutions are available through a cloud platform and distribution partnerships with processors and core platform suppliers in the UK and internationally, serving banks, credit unions, and financial service providers.

Xtalic

Debt Financing in 2019
Xtalic Corporation, founded in 2005 and based in Marlborough, Massachusetts, specializes in the development, manufacturing, and sale of corrosion-resistant metal alloys for both mobile and enterprise electronics applications. The company offers innovative nanostructured metal coatings that enhance performance through improved wear and corrosion resistance. Key products include XTRONIC, a barrier layer that enhances durability, and LUNA, a replacement for gold in electrical connectors. Xtalic’s proprietary electroplating process precisely controls metal structures at the nanometer scale, resulting in exceptional aesthetic and functional finishes. Additionally, their technology is environmentally friendly, as it avoids the use of hexavalent chromium, thereby reducing compliance costs and improving worker safety. Through its advanced coatings, Xtalic enables clients to minimize the use of high-cost raw materials and replace toxic substances in their manufacturing processes.

Emphysys

Private Equity Round in 2019
Emphysys, Inc. is a technology development company based in Woburn, Massachusetts, specializing in the design and development of multi-modal energy generation and software control systems. Founded in 2009, the company focuses on creating patentable intellectual property to differentiate its products in the market. Emphysys employs multiphysics modeling and simulation tools to evaluate product performance and offers a comprehensive range of services, including technical consulting, device modeling, RF heating and ablation, acoustics, plasma modeling, and app development. Its clientele primarily includes the life sciences, medical device, and industrial sectors, with a strong emphasis on improving the performance and reliability of complex products and processes. Emphysys provides complete development solutions from initial concept to mature system prototypes, leveraging expertise in RF and microwave power delivery systems and the interactions of electromagnetics with various tissues. As of November 2020, Emphysys operates as a subsidiary of Paramit Corporation.

Pure Incubation Ventures

Debt Financing in 2017
Pure Incubation LLC is a marketing agency based in Topsfield, Massachusetts, established in 2007. The company specializes in lead generation and database services that enhance the sales process for businesses, particularly in the B2B and healthcare sectors. It provides a range of technology-enabled solutions, including inbound marketing strategies, social marketing, retargeting, online advertising, search optimization, online public relations, and content marketing. By leveraging data-driven systems, Pure Incubation helps clients efficiently engage and convert their customers, ultimately driving revenue growth. Through its various businesses, the company supports IT and medical device marketers in generating demand and managing data effectively.

Marshall Paper Tube Company

Debt Financing in 2017
Marshall Paper Tube Company, incorporated in 1948 and based in Canton, Massachusetts, specializes in the manufacture and distribution of a wide range of paper packaging materials. Its product offerings include mailing tubes, colored tubes, cardboard tubes, telescoping tubes, cores, and shipping containers, as well as various types of plugs and rollers. The company also produces fundraising and collection banks, catering primarily to industries such as roofing, automotive, and textiles. In addition to its packaging solutions, Marshall Paper Tube provides sealing, labeling, and shipping services, ensuring that clients receive high-quality materials tailored to their specific needs.

Network Allies

Debt Financing in 2017
Network Allies, LLC, founded in 2002 and based in North Andover, Massachusetts, specializes in designing, building, deploying, and supporting application-specific computing systems. The company offers a diverse range of products, including embedded systems, military and aerospace systems, network appliances, and rugged tablets, among others. In addition to its product offerings, Network Allies provides comprehensive system integration services, which encompass new product introduction, process development, and regulatory certification. The company also delivers engineering and design services, focusing on technology assessment, system design, and prototyping. Furthermore, Network Allies supports its clients with logistics and support services, including supply chain management and sustained engineering. By catering to original equipment manufacturers and independent software vendors, Network Allies enables these businesses to concentrate on their core competencies while reducing their total cost of ownership.

Rypos

Debt Financing in 2017
Rypos, Inc. is a privately owned company based in Franklin, Massachusetts, specializing in the development and manufacture of active exhaust control systems aimed at reducing harmful emissions from diesel engines. Established in 1996, Rypos provides a comprehensive range of diesel particulate filters that utilize patented technology for efficient and reliable electrical regeneration of filter cartridges. The company serves original equipment manufacturers and aftermarket clients across various sectors, including power generation, transport refrigeration, rail, marine, and mining, offering modular systems suitable for both mobile and stationary diesel engines. Their products are distributed through a network of dealers worldwide, with ongoing research and development to enhance the applicability of their technology in emerging markets.

Baynes Electric Supply

Venture Round in 2017
Baynes Electric Supply Co., Inc., founded in 1956 and located in West Bridgewater, Massachusetts, specializes in distributing electrical and lighting products. The company serves a diverse clientele, including institutional, industrial, and commercial customers, as well as electrical contractors. In addition to its distribution services, Baynes Electric Supply offers various supporting services such as energy audits, switchgear solutions, and re-lamping programs, catering to the specific needs of its customers in the electrical sector.

TriWire Engineering Solutions

Acquisition in 2017
TriWire Engineering Solutions is a broadband installation service provider located in Tewksbury, Massachusetts. The company specializes in delivering high-quality installation services for major cable and telecommunications companies, including Cablevision, Charter, Comcast, Cox, Time Warner, Metrocast, and ADT Security Systems. TriWire is known for its team of highly skilled and tech-savvy professionals who are dedicated to providing exceptional customer service. By focusing on the needs of its clients, TriWire ensures that customers receive reliable and efficient installation services tailored to the evolving demands of the industry.

Valet Park Of America

Debt Financing in 2016
Valet Park of America, Inc. is a transportation and parking management company based in Springfield, Massachusetts, founded in 1990. It specializes in providing a range of services, including employee shuttles, off-site shuttles, airport transit, private charters, and valet parking. The company caters to a diverse clientele, including hospitals, hotels, universities, municipalities, airports, casinos, restaurants, and ski resorts, offering customized transportation solutions tailored to meet specific needs. Valet Park of America focuses on creating organized systems for parking fee collection, ensuring safe traffic flow, and directing parking effectively, all aimed at facilitating a smooth commuting experience for passengers.

Harbar

Private Equity Round in 2016
Harbar LLC is a manufacturer and marketer of tortillas and specialty flatbreads, catering to the food service, consumer packaged goods, and retail markets both in the United States and internationally. Established in 1986 and headquartered in Canton, Massachusetts, the company offers a diverse range of products, including flour and corn tortillas, natural and organic options, and various specialty tortillas. Harbar also provides precut and uncut chips, uncooked tortillas, tacos, wraps, burritos, and crisps, focusing on delivering fresh and authentic products to its customers. The company's commitment to quality and health has positioned it as a notable supplier in the grocery, natural, and e-commerce segments.

Phillips Screw Company

Venture Round in 2016
Phillips Screw Company, Inc. is a manufacturer and distributor based in Burlington, Massachusetts, specializing in the design and engineering of proprietary fastener technology. Founded in 1933, the company offers a diverse range of fasteners and drive systems tailored for various industries, including aerospace, automotive, electronics, and renewable energy. Its product offerings encompass aviation fasteners for aircraft manufacturers, micro fasteners for devices in computing and telecommunications, and solutions for machine tools and imaging applications. The company serves multiple markets worldwide, including military, marine, and industrial sectors, and is known for its patented drive systems designed to enhance fastening applications.

Pointright

Venture Round in 2015
PointRight Inc. is a provider of advanced analytics solutions tailored for post-acute healthcare providers, hospitals, payers, and insurance organizations. The company offers tools such as RightMatch, which assesses patient readmission risks and demonstrates how skilled nursing facilities can mitigate these risks. Additionally, PointRight's Five-Star FastTrack solution allows providers to evaluate their performance across various metrics established by the Centers for Medicare and Medicaid Services, including quality measures and staffing levels. With access to over 40 million patient assessments, PointRight leverages predictive and descriptive analytics to help clients enhance patient care, improve operational efficiency, and align with value-based care initiatives. The company also provides risk management services, predictive models for liability and workers' compensation losses, and actuarial analysis for insurance professionals. Founded in 1992 and based in Cambridge, Massachusetts, PointRight was previously known as LTCQ, Inc. before rebranding in 2008.

Phillips Screw Company

Acquisition in 2015
Phillips Screw Company, Inc. is a manufacturer and distributor based in Burlington, Massachusetts, specializing in the design and engineering of proprietary fastener technology. Founded in 1933, the company offers a diverse range of fasteners and drive systems tailored for various industries, including aerospace, automotive, electronics, and renewable energy. Its product offerings encompass aviation fasteners for aircraft manufacturers, micro fasteners for devices in computing and telecommunications, and solutions for machine tools and imaging applications. The company serves multiple markets worldwide, including military, marine, and industrial sectors, and is known for its patented drive systems designed to enhance fastening applications.

MedTouch

Private Equity Round in 2015
MedTouch LLC is a healthcare-focused digital agency that specializes in providing comprehensive digital strategy and technology solutions for healthcare organizations, including hospitals and health plans. Founded in 2004 and headquartered in Somerville, Massachusetts, with an additional office in Cedar Rapids, Iowa, MedTouch delivers services such as custom content creation, digital user experience and design, enterprise content management systems, and service line marketing. The company emphasizes real-time personalization to enhance patient engagement and streamline conversions, positioning its clients for long-term success. By integrating various components of digital strategy, MedTouch aims to create exceptional and coherent experiences for patients and members, supporting healthcare providers in navigating complex projects and achieving their goals effectively.

Dynasil

Venture Round in 2012
Dynasil Corporation of America is a company that develops, manufactures, and markets detection, sensing, and analysis technology, as well as optical components, operating primarily in the United States and internationally. It functions through three main segments: Optics, Innovation and Development, and Biomedical. The Optics segment is the largest revenue contributor, providing synthetic crystals, optical materials, and coatings for various applications, including medical imaging systems, baggage scanners, and industrial devices. The Innovation and Development segment focuses on advanced technologies that detect or measure various physical phenomena for security, medical, and industrial uses. The Biomedical segment is involved in developing tissue sealant products. Dynasil distributes its offerings via direct sales, marketing teams, and third-party representatives. Founded in 1960 and headquartered in Newton, Massachusetts, Dynasil emphasizes innovation and technology to maintain competitiveness in high-growth markets such as homeland security and medical applications.

MagneMotion

Debt Financing in 2006
MagneMotion, Inc. is a company specializing in the development and manufacture of linear synchronous motor (LSM) products and systems, which are utilized in assembly automation, material handling, and transportation applications. Based in Devens, Massachusetts, 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 commercial elevators. MagneMotion also provides custom designs that incorporate advanced features like turntables and fault-tolerant controls, as well as design consulting services in areas such as precise vehicle control and magnetic levitation. The company serves a diverse clientele, including military and government agencies, consumer products firms, and automation systems integrators. Founded in 1996, MagneMotion has established itself as a leader in delivering innovative and cost-effective linear motor solutions, supported by years of research and a strong focus on addressing both current and emerging market needs.

MagneMotion

Private Equity Round in 2006
MagneMotion, Inc. is a company specializing in the development and manufacture of linear synchronous motor (LSM) products and systems, which are utilized in assembly automation, material handling, and transportation applications. Based in Devens, Massachusetts, 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 commercial elevators. MagneMotion also provides custom designs that incorporate advanced features like turntables and fault-tolerant controls, as well as design consulting services in areas such as precise vehicle control and magnetic levitation. The company serves a diverse clientele, including military and government agencies, consumer products firms, and automation systems integrators. Founded in 1996, MagneMotion has established itself as a leader in delivering innovative and cost-effective linear motor solutions, supported by years of research and a strong focus on addressing both current and emerging market needs.

Harmonix Music Systems

Acquisition in 2005
Harmonix Music Systems, Inc. is a video game development studio based in Cambridge, Massachusetts, founded in 1995 by Alex Rigopulos and Eran Egozy. The company specializes in creating music-oriented video games that allow users to engage with music through gameplay across various platforms, including console, PC, and mobile. Harmonix is well-known for its successful franchises, such as Rock Band and Dance Central, and was the original developer of the Guitar Hero series up until Guitar Hero III: Legends of Rock. The studio focuses on providing interactive entertainment that enables players, regardless of musical background, to experience the joy of making music.

Artel Video Systems

Series B in 2000
Artel Video Systems, established in 1987, specializes in designing and manufacturing reliable media transport solutions for cable TV, satellite, and telecommunications industries. Their flagship product, DigiLink, is a space-efficient, low-power platform that facilitates easy deployment and management of video signals over newer networks. With over three decades of experience, Artel has earned a reputation for exceptional reliability, with thousands of successful global deployments. DigiLink offers versatile integration capabilities, supporting fiber, IP, and optical network transport. The company's commitment to customer service is evident in its free lifetime technical support and training offerings, making it a trusted partner for media transport needs.

Artel Video Systems

Series A in 1999
Artel Video Systems, established in 1987, specializes in designing and manufacturing reliable media transport solutions for cable TV, satellite, and telecommunications industries. Their flagship product, DigiLink, is a space-efficient, low-power platform that facilitates easy deployment and management of video signals over newer networks. With over three decades of experience, Artel has earned a reputation for exceptional reliability, with thousands of successful global deployments. DigiLink offers versatile integration capabilities, supporting fiber, IP, and optical network transport. The company's commitment to customer service is evident in its free lifetime technical support and training offerings, making it a trusted partner for media transport needs.

Exa Corporation

Venture Round in 1996
Exa Corporation is a software development company specializing in simulation solutions for vehicle manufacturers globally. Founded in 1991 and headquartered in Burlington, Massachusetts, Exa provides a comprehensive suite of software tools that address complex challenges in fluid flow, heat transfer, and acoustics. Key offerings include PowerFLOW, which simulates aerodynamics and thermal management; PowerDELTA and PowerCLAY, which streamline simulation model preparation; and PowerTHERM and PowerCOOL, which analyze heat transfer and management. The company's products, including PowerINSIGHT for simulation case management and PowerVIZ for analyzing results, are designed to enhance the design and engineering processes. Exa also caters to diverse industries such as aerospace, oil and gas, and biomedical, providing consulting and training to improve product performance and reduce development costs. As part of Dassault Systèmes Simulia Corp since 2017, Exa continues to drive innovation in simulation-driven design, enabling manufacturers to optimize efficiencies and meet regulatory and consumer demands for improved product performance and environmental sustainability.

Aspen Technology

Venture Round in 1986
Aspen Technology, Inc. is a global leader in asset optimization solutions, headquartered in Bedford, Massachusetts. Founded in 1981, the company operates across various regions, including North America, Europe, Asia Pacific, Latin America, and the Middle East. AspenTech specializes in software that enhances the design, operation, and maintenance of assets in capital-intensive industries such as energy, chemicals, pharmaceuticals, and transportation. Its product offerings include integrated software suites like aspenONE Engineering, aspenONE Manufacturing and Supply Chain, and aspenONE Asset Performance, which facilitate the optimization of manufacturing environments, operational performance monitoring, and asset reliability forecasting. The company also provides software maintenance, professional services, and training. Aspen Technology aims to help its clients improve profitability, safety, and sustainability by enabling them to run their operations more efficiently and effectively.
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