July 2010 Newsletter

Mass. Capital is pleased to announce that its portfolio company Innov-X Systems Inc. was acquired by Olympus NDT, a world leader in nondestructive testing (NDT) and related inspection technologies, on July 2, 2010. Innov-X is a leading manufacturer of portable X-ray fluorescence (XRF) analytical instruments based in Woburn. Innov-X Systems instruments provide real-time, nondestructive material analysis in applications ranging from metal sorting, lead paint detection, and alloy verification to analysis of oil, fluids, and minerals. The addition of X-ray fluorescence analytical instruments augments Olympus NDT’s existing portfolio of ultrasound, eddy current, and remote visual instruments that include flaw detectors, thickness gages, systems, videoscopes, scanners, probes, and related accessories. Innov-X Systems, Inc. will be operated as a business division of Olympus NDT, retaining its current management team and employee base.

Innov-X Systems C.E.O. Don Sackett commented: “We are extremely honored to be part of the Olympus organization, which is so well respected throughout the world. Innov-X has newly introduced an X-ray fluorescence product platform that is both high performance and rugged and is a great fit with the nondestructive testing and remote visual inspection technologies of Olympus. I look forward to the synergies and opportunities to extend our technological leadership and quality created by the joining of these two companies.”

For more information on Innov-X Systems, please visit www.innovx.com.

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