The Waco International transaction exhibited all these components, which needed to be woven into a fabric of long-term trust and strategic alignment.

Ethos had two advantages. A deep knowledge of the business founded on long-standing relationships with management, and a shared vision – growth.

Ethos led a consortium of like-minded investors comprising RMB Ventures, Standard Bank, Kagiso Strategic Investments and management, in the Waco International acquisition.

Waco is a leading industrial services business in South Africa, Australasia and the UK, providing forming, shoring and scaffolding services, relocatable modular buildings, and sanitation solutions.

The transaction strengthens Waco’s capital structure and improves its Black Economic Empowerment credentials. Furthermore, it enables the business to expand its existing market positions while targeting growth opportunities, particularly in sub-Saharan Africa.

By shaping strategy, engineering growth and fostering relationships Ethos builds better businesses.