MCS Group & VPS Holdings is a leading European provider of products and services for the protection and maintenance of vacant properties, with a presence across the UK, France and the Netherlands. VPS delivers services such as cleaning and clearing, guardian services and manned guarding, alongside the rental of security products. MCS Group provides a comprehensive range of property-related services to mortgage lenders and servicers across the US. The business offers title and closing, valuation, inspection and maintenance services for residential properties.
Initial investment
2010
Sector
Business Services
Initial transaction size
£160m
Having spent time building our knowledge of the space, we built conviction that the property services market presented a good combination of attractive market growth and a fragmented competitive landscape across both Europe and the US. We identified VPS as a strong platform for consolidation while also offering operational improvement potential.
Having identified VPS as a somewhat overlooked business operating in a relatively nascent sector, we moved quickly to transform its leadership and operating model. We supported the company to ensure a quick delivery of the operational transformation and made significant additions to the senior management team.
Between 2011 and 2013, we supported an ambitious European buy-and-build strategy, completing five add-on acquisitions at accretive multiples, expanding scale and reach across the continent.
In the US, we completed the transformational acquisition of MCS Group in 2013, combining it with VPS’s US arm to create a scaled leader and the #2 player in property services. New products and customer wins increased the diversification of the business and broadened exposure to adjacent property services segments.
In July 2014, we completed the sale of VPS to PAI Partners and in 2017, MCS Group was sold to American Securities.