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INVESTMENT GOVERNMENT PROPERTY PRESERVATION TECH
MORTGAGE
CONTRACTING
SERVICES
ANNOUNCES NEW
OWNERSHIP
Lewisville, Texas-based Mortgage
Contracting Services (MCS), which provides
specialized services to financial institutions,
announced Monday that it has completed a
recapitalization of the company.
e company's representatives say that,
under new leadership, it will "recapitalize its
balance sheet through substantial reduction
in debt, obtain new long-term financing to
facilitate growth, and execute strategy as
high-quality service provider to financial, real
estate sectors."
e company's new ownership is made
up of an investor group led by Littlejohn &
Co., LLC, Lynstone SSF Holdings Sàrl, funds
advised by Neuberger Berman Alternatives
Advisers, and Crescent Capital Group.
"We remain 100% focused on delivering
the best customer experience while providing
the market with a comprehensive service
offering," MCS CEO Caroline Reaves said.
"MCS is a strong business because of our
employees, our customer relationships, our
sound business model, and strong leadership
team. We are excited to partner with our new
owners to further strengthen our operations
and remain the industry's provider of choice."
Weil, Gotshal & Manges LLP served
as legal counsel, and Houlihan Lokey and
Portage Point Partners served as financial
advisors to the company in connection with the
transaction. Wachtell, Lipton, Rosen & Katz
served as legal counsel and MAEVA Group
served as financial advisors to an ad hoc group
of its existing lenders.
"MCS provides critical specialized services
to mortgage servicers and other financial
institutions," according to a company press
release. "e company provides field services
such as inspections and property preservation
for mortgages in default and real estate owned
(REO). MCS utilizes an asset-light model,
delivering its services through a network
of independent vendors by leveraging its
proprietary technology platform to efficiently
automate workflow and ensure regulatory
compliant solutions."
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