SOURCE: Traffic Control and Safety Corporation

Traffic Control and Safety Corporation

January 21, 2010 08:00 ET

Traffic Control & Safety Corporation Appoints Keith Costello as Chief Executive Officer

NEWPORT BEACH, CA--(Marketwire - January 21, 2010) - Traffic Control & Safety Corporation ("TCSC"), a portfolio company of Marwit Capital, announced today that Keith Costello has been appointed as Chief Executive Officer of TCSC. Mr. Costello joined TCSC six months ago as Vice President of Sales and will now lead the continued growth of the company as CEO. TCSC is the largest provider of traffic control and related safety products and services for transportation infrastructure markets in the Western U.S.

Mr. Costello joined TCSC with over 20 years of experience in growing profitable sales while integrating several acquisitions in the construction-related product markets. Prior to TCSC, Mr. Costello was Executive Vice President of Sales and led the overall sales organization at ORCO Construction Supply, a leading distributor of supply products serving professional contractors. As General Manager and then Executive V.P. of Sales, Mr. Costello grew sales from $90 million to $320 million while improving margins. Mr. Costello managed sales and business development for 23 branches and 180 sales associates throughout the company.

Chris Britt, Managing Partner at Marwit Capital, stated, "We are very excited to promote Keith to his new leadership role. Over the past six months we have witnessed Keith's drive and vision to continue building TCSC into the leading provider of traffic control and related safety products and services to transportation infrastructure markets in the Western U.S. His relentless focus on delivering a complete solution and unparalleled value to customers and vendors of TCSC and its subsidiary companies is both remarkable and inspiring."

Keith Costello added, "As a company that has among the strongest financial backing in the industry, we have a large opportunity to build on our position of market leadership during these challenging times. Since my arrival at TCSC, I have been incredibly impressed by the quality of the TCSC companies and the people that have built these businesses. TCSC's network of 13 locations in California and 4 locations in Hawaii is unmatched in these markets. Our mix of services and rental fleet, which includes an industry leading 28 attenuator trucks, combined with the variety of products we sell, makes our offering the most complete in the industry. Our management team has identified several growth initiatives for 2010 which all are focused on bringing even better, faster and more reliable services to our loyal customers."

About TCSC

Traffic Control and Safety Corporation (www.trafficcontrolandsafety.com) was formed in June 2007 to create the largest independent provider of traffic control and related products and services serving transportation infrastructure markets in the Western United States. TCSC's family of companies includes industry leaders Statewide Safety & Signs, Traffic Solutions, Toomey Industries/American Barricade, Flash Safety Co., Flashco, and Safety Systems Hawaii.

About Marwit Capital

Marwit (www.marwit.com) is one of the most experienced private equity firms in the Western U.S. Founded in 1962 and based in Southern California since 1977, Marwit invests in lower middle market businesses that have opportunities to become leaders in their industries. Employing a collaborative operational focus with an emphasis on both organic and consolidating growth strategies, Marwit targets businesses that are generally headquartered in the Western U.S. with revenues of $20-200 million, EBITDA of $4-20 million, and enterprise value up to $100 million, at the time of acquisition. Marwit partners with experienced CEOs and management teams to complete buyouts and provide growth capital for expansion. Marwit generally invests $10-40 million of equity capital per platform investment, in one or a series of investments. Marwit's current fund, MCP II, is $183.7 million of committed capital and includes a portfolio of 10 platform companies. Marwit is currently raising $250 million for its third fund, Marwit Capital Partners III.

Contact Information

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    Linda Chaffin
    Marwit Capital
    949-861-3636
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