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Services

Our investments in Services companies highlight the importance of the services industry to the Massachusetts economy.  Portfolio companies provide a range of products and services including the delivery of goods by rail, human services in challenging environments, state-of-the-art digital marketing programs and recycling services.  A few of our portfolio companies are profiled below.

The Providence and Worcester Railroad Company

The Providence and Worcester Railroad (P&W) is an interstate regional freight carrier conducting railroad operations in Massachusetts, Rhode Island, Connecticut and New York.  The P&W possesses the exclusive and perpetual right to conduct freight operations over the Northeast Corridor between New Haven, CT and the Massachusetts / Rhode Island border.  The P&W began independent operations in 1973 and, through a service of acquisitions of connecting lines, has grown from 45 miles of track to its current system of approximately 516 miles.  The largest international double stack intermodal facilities in New England are serviced by the P&W in Worcester, MA.  P&W transports a wide variety of commodities for its customers including automobiles, construction aggregate, iron and steel products, lumber, coal, ethanol, chemicals, scrap metals, plastic resins, cement and processed foods.  P&W’s customers include The Dow Chemical Company, Northeast Utilities, Exxon-Mobil, First Light Power Resources, Frito Lay, Inc., International Paper, Nucor Steel and Tilcon Connecticut.  In the late 90’s MCRC provided $5 million of long term capital to support the continued expansion of the railroad.  Our subordinated debenture has been repaid, but we remain an owner of P&W common stock.

Visit Website: www.pwrr.com

wTe Corporation

wTe Corporation is a technology-driven, value-added recycling company located in Bedford, MA. The Company operates plastics and metals recycling and refining operations in several locations in North America.  Mass. Capital provided wTe with subordinated debt to assist with an acquisition and working capital.  wTe’s UltraPET Division is a leading national recycler of polyethylene terepthalate (“PET”) plastic resins. wTe’s Metals Division was formed in 1990 and is located in Greenfield, MA. The metals business processes municipal ferrous metals recovered from Waste-to-Energy facilities and traditional ferrous and non-ferrous metals from various sources. wTe has committed significant resources to the development of new, high speed processing technologies serving the metals recycling industry.

Visit Website: www.wte.com