PNC Riverarch Capital has announced the successful investment in TSS Inc., a designer and manufacturer of specialty signage, fixtures, and light equipment for the car wash industry.
Founded in the early 1990s and headquartered in Warren, MI, TSS is the nation’s largest and most comprehensive provider of signage and functional fixtures to the car wash industry. TSS 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. TSS’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.
Ismael Basha, CEO of TSS, retains an ownership stake in the business and he, along with the rest of the current management, will remain in place. Michael Hand, Andrew Barza, and Ian Garland will represent PNC Riverarch Capital on the TSS board of directors.
PNC Riverarch Capital is a middle-market private equity firm that invests in privately held companies headquartered in North America. The firm 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.