Founded in 1986, MCS markets its title retention, inspection and other asset management and maintenance activities. But it will continue to operate the MCS Commercial, MCS Residential and MCS Government Services divisions and brands.
Processes, operations and technology supporting mortgage servicers and lenders will transition to Stewart. In recent years, MCS has expanded through the acquisition of conservation leaders MSI And Five brothers asset management solutions.
“Under this new ownership, our mortgage customers will continue to receive the exceptional services that MCS has provided for years,” said Craig Torrance, CEO of MCS, in a statement. “The remaining MCS companies will continue to operate under the MCS brand and are well prepared for further growth.”
The sale provides additional capital and flexibility for future growth at MCS, which is currently led by a group of investors including Littlejohn & Co., Lynstone Holdings And Neuberger Berman Alternatives Advisors. Andrew Nolan will remain president of MCS’s residential and commercial operations, reporting to Torrance.
Troutman Pepper Locke served as outside counsel to Stewart. Macquarie Capital acted as exclusive financial advisor to MCS, and BakkerHostetler acted as legal advisor.
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