MCS Reports Robust Growth and Significant Milestones in 2024 as Core Service Lines Continue to Expand

Revenue Increases, Five Brothers Acquired and Government Services Division Launched

LEWISVILLE, Texas, Jan. 23, 2025 /PRNewswire/ -- MCS, the national property services provider founded in 1986, reported robust growth and significant milestones across new and existing business lines in 2024. Total company-wide revenue increased notably, with significant growth recorded across MCS's Commercial and Residential Services businesses. A new Government Services division was launched, and although foreclosure volumes are still historically low, Mortgage Services continued its steady upward performance supported by the strategic acquisition of Five Brothers as well as from internal improvement projects. This year's accomplishments build upon the successful trajectory set over the past several years when MCS completed key acquisitions in support of its national growth program, expanded its regional self-performing network, and implemented unique initiatives that increased service offerings and captured new market share.

"It was a year of progress company wide as overall business revenue increased over 30% and EBITDA more than doubled year-over-year, performing above where MCS was last year across all business lines," said Craig Torrance, CEO of MCS. "Through strategic acquisitions, outstanding client service and streamlined operations, we continue to advance toward our goal to be the leading national property services provider across multiple property types."

2024 MCS Business Highlights:

Commercial Services (Chain Store Maintenance - an MCS Business)

• Won several RFPs for national chain store accounts with "household name" retailers.
• Completed over 97,000 client work orders in 2024, representing a nearly 50% increase over 2023.
• Year-over-Year performance of the division was up dramatically with revenue increasing nearly 70%.
• Completed technology platform upgrades and integrations.
• Expanded and enhanced efforts to add service partners, including an improved recruiting and onboarding experience.

Residential Services

• Working relationship with 85% of the Top 30 single-family residential owner/operators.
• Completed over 170 renovation projects nationally for large mortgage insurers.
• Significantly increased volume of restoration projects, where MCS works with remediation companies on damaged properties.
• Year-over-Year performance of the division is up dramatically with revenue more than doubling.

Mortgage Services

• Acquired and successfully integrated Five Brothers, a top-tier reverse mortgage services company.
• Extended contract with its largest client through 2032 and renewed three others, received increased allocation from another major client, and onboarded seven new clients.
• Introduced self-performing property preservation services in the Columbus, OH market.

Government Services

• New business line launched in 2024, bringing MCS's core strengths of exterior and interior facilities maintenance services to U.S. Federal agency properties nationwide.
• Secured the business line's first federal government contract and actively pursuing additional opportunities.
• The U.S. General Services Administration's Office of Professional Services and Human Capital (PSHC) Categories announced that MCS was one of the awardees for the new One Acquisition Solution for Integrated Services Plus (OASIS+) program that allows Federal agencies to easily procure a wide range of complex professional services from qualified contractors.

Additional Accomplishments

• Closed a $112 million refinancing that provides an additional M&A funding source and increased access to capital.
• Expanded self-performing capabilities to 32 markets around the country allowing MCS to directly provide services for its clients, including offering licensed HVAC services in five states.
• Added over 1,800 service partners to its national network, allowing MCS/Chain Store to service clients across the country.
• During the summer, nearly 150 MCS employees donated their time to provide assistance in their local communities by participating in a variety of community service activities supporting local charitable organizations.
• Hired finance veteran Charlie Plummer as its Chief Financial Officer.
• Mr. Torrance was named SFR CEO of the Year at IMN's 3^rd Annual SFR Industry Awards.

"Overall, MCS had a great year financially and operationally, and while we're still aiming for more growth and a larger market share, we made tremendous progress overall and had remarkable success in getting our Government Services new business off the ground, acquiring a company and growing our existing business lines," Mr. Torrance added. "With our strong team and proven performance, MCS is poised for another strong year in 2025."

About MCS
MCS is an award-winning property services provider working across Commercial, Residential and Government properties as well as the Property Preservation industry. For nearly 40 years, MCS has been committed to responsive care, industry-leading service standards, leveraging technology, and end-to-end transparency to protect, preserve and serve communities across the country. Some of the largest and most respected mortgage servicers, real estate owners and operators, corporations and government agencies trust MCS to perform property inspections, preservation, maintenance, renovations, and other property-related services. Learn how MCS is Making Communities Shine at MCS360.com.

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SOURCE MCS