GP Partners

TSS was founded in the early 1990s and headquartered in Warren, MI, T.S.S. is the nation's largest and most comprehensive provider of signage and functional fixtures to the car wash industry. T.S.S. serves more than 2,000 customers nationwide, including many of the nation's leading car wash equipment manufacturers, distributors, installers, and operators. The company provides the industry's widest range of products, including tunnel fixtures, menus, arches, foamers, canopies, and LED lighting. T.S.S.'s products are critical to providing customers with a superior wash experience and offer operators a valuable source of differentiation, increased traffic, enhanced pricing opportunities, and meaningfully improved profitability. The transaction for PNC Riverarch Capital was led by Michael Hand, managing director; Andrew Barza, director; Ian Garland, senior associate; and John Yang, associate. PNC Riverarch Capital will be represented on the Board of Directors by Mr. Hand, Mr. Barza, and Mr. Garland. Senior debt financing for the transaction was provided by First Commonwealth Bank. Management was also a meaningful co-investor in the transaction. PNC Riverarch Capital is a middle-market private equity firm which invests in privately held companies headquartered in North America. The firm seeks well-positioned companies where it invests $10 million to $50 million of capital in support of leveraged and management buyouts, recapitalizations, corporate divestitures and growth financings. PNC Riverarch Capital invests across a variety of industry sectors, including consumer products and services, outsourced business services, specialized manufacturing, and value-added distribution. PNC Riverarch Capital is a division of PNC Capital Finance LLC, a wholly owned indirect subsidiary of The PNC Financial Services Group, Inc. (NYSE: PNC). Since 1982, PNC has invested in excess of $1.3 billion of equity capital in more than 100 companies.