MTSI Fulfills ESOP Promise Ahead of Schedule
ALEXANDRIA, Va., May 2, 2017 /PRNewswire/ -- Modern Technology Solutions, Inc. (MTSI) is proud to announce it is now officially 100% employee owned. The distinction represents the completion of an employee stock ownership plan (ESOP) initiated in 2008 for MTSI, an engineering services and technology solutions provider for the defense industry, intelligence community, and commercial markets.
MTSI has generated revenue gains every year since its inception in 1993. By establishing an ESOP, founders Phil Soucy and Tom McMahon sought to ensure a stable, independent foundation for the company that used its successes to reward its employees. Those efforts have paid off as the company boasts an employee retention rate over 93%, a recompete success record of 100% on customer contracts that have come up for renewal over the last three years, and numerous best places to work designations at locations throughout the country.
"MTSI's talented and hardworking people have driven its continual growth over the last 24 years," said Phil Soucy, MTSI Co-Founder and Chairman of the Board. "Transitioning to a full 100% ESOP provides the opportunity for all employees to participate in the company's current and future success."
"Many years ago, one of the best decisions in the company's history to date was made by opting against an opportunity to be bought out," said Tom McMahan, MTSI Co-Founder. "MTSI employees are assured that the company stays true to its number one core value of 'Employees Come First' with a lasting opportunity for them to grow personally and professionally as it does too."
"Phil Soucy and Tom McMahan shared a long term vision of MTSI as an independent, enduring company solving problems of global importance built upon a foundation of core values that drives all aspects of operations and decision making. The transition to 100% ESOP enables us to realize this vision and it preserves a unique business model that has been highly successful for both employees and our customers," said Kevin Robinson, MTSI CEO and President. We will continue to aggressively invest in our people and capabilities with a long term focus, allowing them to provide our customers with the high quality, specialized solutions MTSI employees are known for."
About Modern Technology Solutions, Inc. (MTSI)
MTSI is a 100% employee-owned engineering services and technology solutions company delivering first- choice capabilities to solve problems of global importance in the critical mission areas of missile defense, cyber security, intelligence, unmanned/autonomous systems, aviation, space, and homeland security. MTSI's mission is to make important and lasting contributions to the nation's defense and security by providing leadership and best- value solutions to solve America's most technically challenging strategic problems. Founded in 1993, MTSI today has over 730 employees, based at 20 offices and field sites worldwide. Read more at www.mtsi-va.com. For more information on available job opportunities with MTSI, please visit www.mtsi-va.com/careers.