Homelite began making small generator sets for home lighting way back when, like in the 1920's. They saw the hadwriting on the wall with Roosevelt's work programs bringing power to rural areas in the 1930's, got a reprieve when the country tooled up to fight WWII. As most of the small gensets of the era were 2-strokes, they did have and edge in the technology of the era, and moved into chainsaws seriously around 1951 with the 26LCS, although they seem to have made a couple of contract power plants for others previously. Their first serious chainsaw (IMO) was the 5-20 gear drive in about 1955. That was their first all-round effort, with an all-position carb and enough power even for the big wood in the west. This basic engine design hung on into the 1970's with the last of the WIZ saws.
Homelite was taken over by Textron, who were mostly into textile mills in about 1955. Textron eventually sold Homie to Deere a few years ago, who bought them for their industrial compressors, pumps, and generators, and was forced to take the consumer stuff with the deal. they did try to market the Homie stuff, both in green and red, but by this time it was too late...
McC began with saws a little earlier. Their first all-position saw was in 1949, with the 3-25. This saw had a lot of problems, but even so was ahead of its time. IMO, McC had a little better large saw line through the late 1960's, and I am a Homelite man. Their small saws, like the 10-10, were OK, but just a hair heavier and clumsier than the Homie XL/SXL, although the stying was prettier. The mid-range saws like the 250 were too heavy...I disliked that thin front handle, especially. In the later 1960's I think McC kinda gave up on the market in the upper midwest, as there weren't many saws of that era seen here, except the 10-10 and various mini-mac types saws...the beginning of the big-box era, the downfall of the USA saw makers.
Homie and McC names are still around, but as cheap asian imports. There is also an Elux McC made in Italy that is better, but I think their market is in S. Europe and some of the former commie bloc countries.