August 2009 Newsletter
MCRC ANNOUNCES NEW INVESTMENT IN LITECONTROL CORPORATION
Boston, MA – August 2009 - MCRC is pleased to announce a new investment in Litecontrol Corporation. Founded in 1936, Litecontrol is a leader in the design, development, manufacture, and marketing of innovative, high quality architectural lighting systems. Primary markets for the Company’s products include office buildings, schools, hospitals, laboratories, and libraries throughout North America. The Company designs, develops, fabricates, paints, and assembles its products at two fully integrated manufacturing facilities totaling 450,000 square feet in Hanson and Plympton, Massachusetts. The Company’s manufacturing facilities utilize the latest technologies to ensure that all products maintain the highest quality standards with the least impact on the environment. Litecontrol is a privately held, employee-owned corporation with 200 employee-owners. The Company completed its transition to ESOP ownership in late 2007. Mass. Capital’s recent investment refinanced a portion of the existing ESOP debt, providing near term working capital and a more favorable long term amortization schedule.
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