Roger Roche

Roger J. Roche has spent roughly 30 years working with founder-owned businesses as an investor and lender. He earned a B.S. in Accounting and Finance from Babson College (attended 1980–1985). He began his finance career at BankBoston (now part of Bank of America), where he rose to Managing Director before moving into private equity.

In 2000 Roche co-founded Ironwood Capital, a Connecticut-based lower/middle-market private equity firm headquartered in Avon, CT (with a Boston office). As Senior Managing Director and a Founding Partner, he held primary responsibility for marketing and investment origination, sat on the investment committees for the firm's mezzanine funds, and led investments across the capital structure — both subordinated (junior) debt and equity co-investment — to support buyouts, recapitalizations, generational transitions and growth financings. Over its history Ironwood invested more than $1 billion across 100+ companies (its fifth fund, ICP V, closed at roughly $516M). His career also includes time associated with SwingBridge Capital.

In 2023 Roche launched his own firm, Matunuck Capital LLC, based in Old Saybrook, CT, where he serves as Founding/Managing Partner. Matunuck invests in growing, profitable companies with recurring service models across industrial, technology and healthcare, emphasizing control recapitalizations and acquisition/growth capital. Partner Alex Liebert joined him at the firm.

• Invests in established, profitable, growing companies — not early-stage startups; typical structures are recapitalizations and acquisition/growth capital, including control positions at Matunuck.
• Sector emphasis: industrial, technology and healthcare, with a clear recent tilt toward recurring-revenue property/restoration services (roofing, restoration, remediation roll-ups).
• Long-term, relationship-driven approach. Matunuck states its approach is "characterized by a commitment to long-term value creation, alignment with management teams, and consistent support and guidance," valuing "thoughtfulness and patience over near-term transactions or arbitrary timelines."
• Positions capital as partnership for business builders: "strategic guidance, transformative capital, and a deep network of executives and industry leaders" for entrepreneurs, CEOs and management teams.
• At Ironwood the model was flexible junior capital — junior/subordinated debt plus meaningful equity co-investment ($10–50M checks) for companies with $20–250M+ revenue and $4–25M+ EBITDA.