Traffic Control and Safety Corporation Appoints Greg Grosch as Chief Executive Officer
Newport Beach, CA, April 19, 2010 - Marwit Capital announced today the appointment of Greg Grosch as CEO of Traffic Control and Safety Corporation (“TCSC”), one of its portfolio companies and the largest independent provider of traffic control and related safety products and services in the Western United States.
Grosch founded White Cap Industries, which he ran for 25 years, and which is now a wholly owned subsidiary of HD Supply. He served as the CEO and President of White Cap where he grew revenues to over $350 Million before his departure in 2001. Grosch has over 30 years of experience in both the supply and construction sides of the industry. He has extensive knowledge of all of its sectors from residential construction to high-rise and infrastructure projects. Grosch has worked as an industry consultant to private equity firms, private and publically traded companies for the past eight years. Prior to this assignment he was involved in the consolidation of several companies previous owned by Stock Supply and in the sale of the assets of Orco Construction Supply to HD Supply.
Chris Britt, Managing Partner of Marwit Capital, commented on Grosch's appointment, “Greg came to our attention because of his strong execution skills, his proven ability to lead top performing teams and his track record managing a complex organization with multiple business segments. Greg's extensive experience in the product sales and construction sectors, coupled with his enterprise management skills, will bring more management expertise to the execution of our overall strategy and also allow our technical experts to focus more of their time on project management and execution.”
Grosch said, “I look forward to expanding TCSC’s focus on product sales while continuing to provide industry leading solutions for safe, cost effective traffic control services. There will be an increased emphasis on developing internal talent while reaching outside for new skills that will fuel our growth and shareholder value.” “We have high expectations that Greg will add effective leadership to the already great team we have in place. Additionally, his straightforward style, understanding of the role of culture in a company's success and his personal integrity will win the respect of employees, customers and investors alike," continued Britt.
About Traffic Control and Safety Corporation
TCSC is the leader in the markets it serves with branches throughout California and in Hawaii. TCSC is first company to provide a complete package of traffic control and related safety products and services across California and Hawaii, including: traffic control planning and related services; the manufacturing of permanent and temporary freeway, traffic and construction signage; traffic control equipment rentals and sales; distribution and installation of barrier systems and crash absorption products; personal and highway safety products including fall protection; “green” pavement repair products; erosion control and storm water containment systems; work zone, safety and other tools, materials and accessories; and safety training and certification. Additionally, its Hawaii subsidiary Safety Systems Hawaii is the leading supplier of trench shoring and trench plates on the islands of O’ahu and Maui. For more information on TCSC, please visit its web site at www.tcasc.com
About Marwit Capital
Founded in 1962, Marwit Capital is a private equity firm that has been based in California since 1977. Marwit Capital invests in lower middle market businesses that are or have the potential to be leaders in their industries and markets. For more information on Marwit Capital and its portfolio companies, please visit our web site at www.marwit.com