Exited Investment
Mortgage Contracting Services LLC
Prairie Capital Fund III
| Location | Tampa, FL |
| Transaction Type | Management Buyout |
| Investment Date | June 2005 |
| Exit Date | July 2008 |
| Buyer | Concentric Equity Partners |
| Business | Provider of comprehensive property preservation and inspection services to nationwide mortgage servicers. |
| Industry | Business Services |
Investment Rationale
- Supported the then Executive Vice President of the Company in the management buyout in order to capitalize on numerous new growth opportunities.
- The Company had a loyal network of independent contractors that gave the Company a competitive advantage and provided a scalable platform for growth.
- Prairie Capital anticipated that as mortgage interest rates continued to rise, default rates on residential properties would increase, which in turn would drive preservation and inspection volume for the Company.