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 specializes in sheet metal fabrication and installation services tailored for commercial and industrial construction projects. The company offers a comprehensive range of services that include the design, fabrication, and installation of various types of ductwork made from materials such as galvanized steel, stainless steel, aluminum, and black iron. These products are utilized in complex systems for air handling, fire safety, and clean-air or laboratory venting. Worcester Air aims to meet the specific needs of its clients by delivering high-quality metal works essential for efficient and safe building operations.

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 retail company specializing in athleisure footwear, apparel, and accessories for men, women, and children. Founded in 2017 and headquartered in Hingham, Massachusetts, NOBULL offers a range of products including trainers, runners, apparel, lifters, bags, and various accessories. The company sells its products through retail locations in New York and Boston, as well as online via its website. In addition to retailing, NOBULL showcases short films on its website through NOBULL TV, further engaging its audience.

Packaging Technology Group

Debt Financing in 2020
Packaging Technology Group, Inc. is a manufacturer specializing in thermal packaging solutions, primarily for the biotech, biopharmaceutical, life sciences, and medical industries. Founded in 2005 and based in Fall River, Massachusetts, the company offers a range of standard and custom-designed products, including cellulose shippers, polyurethane containers, carboy shippers, expanded polystyrene molded containers, and innovative phase change materials. Packaging Technology Group is committed to designing, engineering, and producing sustainable thermal shipping solutions that protect valuable medications while minimizing environmental impact. The company emphasizes a collaborative approach to address its clients' thermal packaging challenges, leveraging advanced thermal engineering, modeling, and product design to deliver effective solutions.

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 developing and manufacturing advanced metal coatings for various applications, primarily in the electronics sector. The company offers innovative nanostructured coatings that enhance corrosion and wear resistance while providing exceptional aesthetics. Notable products include XTRONIC, a barrier layer designed to improve durability, and LUNA, which serves as a gold replacement for electrical connectors. Xtalic's electroplating process is environmentally friendly, eliminating the use of hexavalent chromium, thereby reducing compliance costs and safety risks for workers. By enabling clients to decrease reliance on expensive raw materials and replace hazardous substances, Xtalic contributes to more sustainable manufacturing practices in both decorative and functional metal finishing.

Emphysys

Private Equity Round in 2019
Emphysys, Inc. is a technology development company specializing in multi-modal energy generation and software control systems. Founded in 2009 and based in Woburn, Massachusetts, the company focuses on enhancing the performance and reliability of complex products, particularly within the semiconductor capital equipment and medical device sectors. Emphysys employs advanced multiphysics modeling and simulation tools to design and test its products, ensuring they meet rigorous performance standards. Its services encompass medical device modeling, RF heating and ablation, acoustics, plasma modeling, and app development. The company also provides technical consulting and characterization tools, facilitating the complete development process from concept to prototype. Emphysys operates as a subsidiary of Paramit Corporation, leveraging its expertise to serve clients in the life sciences, medical device, and industrial markets.

Pure Incubation

Debt Financing in 2017
Pure Incubation LLC, founded in 2007 and based in Topsfield, Massachusetts, specializes in lead generation and database services aimed at enhancing the sales process for businesses in the technology and healthcare sectors. As a parent company, it oversees several businesses focused on data management and demand generation. The firm offers a range of technology-enabled services, including inbound marketing strategies, social marketing, online advertising, search engine optimization, online public relations, and content marketing. Through these services, Pure Incubation helps clients effectively engage and convert customers, providing essential support for IT and medical device marketers in their sales efforts.

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 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 advanced emissions control systems aimed at reducing harmful emissions from diesel engines. Founded in 1996, the company provides active diesel particulate filters applicable in various sectors, including power generation, transport refrigeration, rail, marine, and mining. Rypos offers a patented technology that features electrically regenerated filters, which ensures efficient and reliable operation. Their product line includes hybrid diesel particulate and self-cleaning exhaust filters, designed to meet regulatory standards for diesel particulate filtration in both mobile and stationary applications. The company serves original equipment manufacturers and aftermarket customers through a network of dealers worldwide, while continuing research and development to enhance the utility of its technology across multiple markets.

Baynes Electric Supply

Venture Round in 2017
Baynes Electric Supply Co., Inc., established in 1956 and headquartered in West Bridgewater, Massachusetts, is a distributor of electrical and lighting products. It caters to a diverse clientele, including institutional, industrial, and commercial customers, as well as electrical contractors. The company's offerings extend beyond product supply, encompassing services such as energy audits, switchgear, and re-lamping programs to meet the comprehensive electrical needs of its clients.

TriWire Engineering Solutions

Acquisition in 2017
TriWire Engineering Solutions, based in Tewksbury, Massachusetts, specializes in broadband installation services for the cable and telecommunications industries. The company offers a range of services that include installations for major providers such as Cablevision, Charter, Comcast, Cox, Time Warner, and Metrocast, as well as ADT Security Systems. TriWire is recognized for delivering high-quality installations and exceptional customer service, supported by a team of highly skilled and tech-savvy professionals.

Valet Park Of America

Debt Financing in 2016
Valet Park of America, Inc. specializes in transportation and parking management services, offering a range of solutions that include employee shuttles, off-site shuttles, airport transit, private charter services, and valet parking. Founded in 1990 and based in Springfield, Massachusetts, the company caters to various sectors, including hospitals, hotels, universities, municipalities, airports, casinos, and special events. Valet Park of America focuses on creating customized parking plans and providing holistic transportation solutions that ensure smooth commutes for passengers. Their services are designed to enhance the efficiency of parking management through organized fee collection, traffic flow supervision, and strategic parking direction.

Harbar

Private Equity Round in 2016
Harbar LLC is a manufacturer and marketer of tortillas and specialty flatbreads, catering to food service, consumer packaged goods (CPG), and retail markets both domestically and internationally. Established in 1986 and headquartered in Canton, Massachusetts, the company offers a diverse range of products, including flour and corn tortillas, organic and natural wraps, and various specialty tortillas. Additionally, Harbar provides precut and uncut chips, uncooked tortillas, tacos, burritos, and crisps, focusing on delivering fresh and healthy options to retailers in the natural, grocery, and e-commerce segments.

Phillips Screw Company

Venture Round in 2016
Phillips Screw Company, Inc. specializes in the design and engineering of proprietary fastener products and drive systems. Founded in 1933 and based in Burlington, Massachusetts, the company serves a diverse range of industries, including aerospace, automotive, electronics, and renewable energy. Its offerings include aviation fasteners for aircraft manufacturers, micro fasteners for computing and medical devices, and high-performance drive systems for various applications. Phillips Screw Company is recognized for its patented fastener technology, which caters to both industrial and consumer markets worldwide.

Pointright

Venture Round in 2015
PointRight Inc. specializes in analytics solutions for post-acute care providers, hospitals, payers, and insurance organizations. The company offers tools such as RightMatch, which assesses patient readmission risk and suggests ways to mitigate it, and the Five-Star FastTrack solution, which evaluates facility performance across various metrics set by the Centers for Medicare and Medicaid Services. PointRight’s analytics help clients predict professional liability and workers' compensation losses, linking them to specific facility behaviors, including staffing ratios and survey outcomes. The company also provides risk analysis, risk management services, and actuarial loss cost analysis for insurance professionals. With access to over 40 million patient assessments, PointRight enhances patient care quality and operational efficiency for its clients. 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. specializes in the design and engineering of proprietary fastener products and drive systems. Founded in 1933 and based in Burlington, Massachusetts, the company serves a diverse range of industries, including aerospace, automotive, electronics, and renewable energy. Its offerings include aviation fasteners for aircraft manufacturers, micro fasteners for computing and medical devices, and high-performance drive systems for various applications. Phillips Screw Company is recognized for its patented fastener technology, which caters to both industrial and consumer markets worldwide.

MedTouch

Private Equity Round in 2015
MedTouch LLC is a healthcare-focused digital agency that specializes in providing tailored 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, the company offers a range of services such as custom content creation, digital strategy, user experience and design, enterprise content management systems, and service line marketing. MedTouch emphasizes real-time personalization to enhance patient engagement and streamline conversions, helping clients navigate complex projects and achieve long-term success in the digital landscape. By integrating various components of digital strategy, MedTouch aims to deliver a coherent and exceptional experience for patients and members across its national client base.

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. specializes in the development and manufacturing of linear synchronous motor (LSM) products and systems that cater to assembly automation, material handling, and transportation needs. The company offers a range of LSM propulsion and control systems, including heavy-duty solutions for transporting various loads, such as gantry systems and elevators. MagneMotion also provides custom designs that incorporate different radius turns and advanced features like magnetic levitation and inductive power transfer. It serves a diverse clientele, including military and government agencies, consumer products companies, and automation systems integrators. Founded in 1996 and based in Devens, Massachusetts, MagneMotion has established itself as a leader in innovative linear motor solutions and collaborates with prominent organizations, including Siemens Healthcare Diagnostics. The company operates as a subsidiary of Rockwell Automation Inc. since 2016.

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 needs. The company offers a range of LSM propulsion and control systems, including heavy-duty solutions for transporting various loads, such as gantry systems and elevators. MagneMotion also provides custom designs that incorporate different radius turns and advanced features like magnetic levitation and inductive power transfer. It serves a diverse clientele, including military and government agencies, consumer products companies, and automation systems integrators. Founded in 1996 and based in Devens, Massachusetts, MagneMotion has established itself as a leader in innovative linear motor solutions and collaborates with prominent organizations, including Siemens Healthcare Diagnostics. The company operates as a subsidiary of Rockwell Automation Inc. since 2016.

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
Artel Video Systems specializes in providing advanced video networking solutions for cable TV, satellite, and telecommunications service providers. With over 30 years of experience in video transport, the company has developed the DigiLink platform, which offers a reliable and easy-to-deploy media transport system. This platform is designed to optimize newer network technologies, featuring a space-efficient and low power consumption design. DigiLink integrates video and Ethernet routing with capabilities for fiber, IP, and optical network transport, making it one of the most flexible options in the market. Artel is recognized for its commitment to exceptional customer service, offering free lifetime technical support and training, ensuring that clients can effectively utilize their media transport systems.

Artel Video Systems

Series A in 1999
Artel Video Systems specializes in providing advanced video networking solutions for cable TV, satellite, and telecommunications service providers. With over 30 years of experience in video transport, the company has developed the DigiLink platform, which offers a reliable and easy-to-deploy media transport system. This platform is designed to optimize newer network technologies, featuring a space-efficient and low power consumption design. DigiLink integrates video and Ethernet routing with capabilities for fiber, IP, and optical network transport, making it one of the most flexible options in the market. Artel is recognized for its commitment to exceptional customer service, offering free lifetime technical support and training, ensuring that clients can effectively utilize their media transport systems.

Exa Corporation

Venture Round in 1996
Exa Corporation specializes in developing and supporting simulation software and services tailored for vehicle manufacturers globally. The company provides a comprehensive suite of tools designed to address complex fluid flow, heat transfer, and acoustic challenges in vehicle design. Key products include PowerFLOW for simulating aerodynamics and thermal management, PowerTHERM for heat transfer analysis, and PowerACOUSTICS for noise prediction and control. Additionally, Exa offers tools like PowerDELTA for automating simulation preparation and PowerVIZ for visualizing results. By leveraging these solutions, manufacturers can enhance product performance, reduce development costs, and respond to regulatory and customer demands for greater efficiency and environmental sustainability. Exa's offerings facilitate simulation-driven design, allowing engineers to anticipate performance issues early in the design process and minimize the need for costly prototypes. The company serves a diverse range of industries, including aerospace, oil and gas, and biomedical, through a network of direct sales and distribution channels. 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 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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