White Cap buys Orco at auction.

After it looked like White Cap founder Greg Grosch was going to take over floundering Orco Construction Supply, White Cap/HD Supply swoops in and out bids Grosch for what is left of the once heavy hitter in the building materials industry. White Cap came in 3 million over Grosch's 14 million dollar offer. Grosch had last look, but apparently White Cap had enough cushion to fend off a final bid.

It is speculated that White Cap was interested in acquiring what assets were left including some inventory, accounts receivable and other misc. items, but probably even more interested in just wiping Orco off the map. Grosch was instrumental in making White Cap a powerhouse throughout the 90's and then cashing out to Home Depot. He would undoubtedly be threat if he were to get back into the game, so it is worth the cash to White Cap to keep Grosch from bringing Orco out of the ashes.

However, I wouldn't say that we have seen the last of Greg Grosch. He appeared back on the scene a few years ago with Wolseley, the parent company of Stock Building. At that time they were looking into developing a building materials unit separate from Stock and similar to W.C. or Orco, with a target of the framing and concrete trades. But before they could get off the ground, Wolseley pulled the plug as the building industry was starting to slide. Next, he and his sidekick Jeff Watt, another HD/WC alum made a go at HCS-Cutler. But once the dust cleared with that BK, there wasn't much left to move forward with. So, when the it was apparent that Orco was going to be on the block, Grosch was foaming at the mouth and put together an investment group and made another run at it. Although it may appear to be strike three for Grosch, it may be a foul tip and Grosch is still at the plate.