Nedbank Private Equity in industrial services deal
Nedbank Private Equity acquired a significant minority equity stake in Waco International Holdings.
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Nedbank Private Equity (NPE) acquired a significant minority equity stake in Waco International Holdings, a diversified equipment hire and industrial services group. The company has operations across South Africa, sub-Saharan Africa and Australasia.
Founded in 1945, Waco employs more than 7,500 people and operates over 120 branches in 13 countries. Its diversified platform underpins infrastructure development and industrial services across multiple sectors.
The investment brings together NPE, incumbent investors RMB Ventures and Bopa Morou, and Waco’s executive management.
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Solid operational footrprint to back an investment thesis. Multi-country equipment hire groups with thsi kind of tenure usually have figured out the working capital cycles and local regulatory nuances that kill younger players. The industrial services diversification probably smooths out the volatility too.