Johannesburg, 21 January 2015: Leading rental equipment and industrial services business, Waco International, today welcomes SkyJacks (suspended scaffolding, hydraulic access equipment and modular platform specialists) into the group’s global fold. In a transaction worth R85m, the acquisition will see Waco International add further depth to its existing portfolio, which spans industry specialists Sanitech, Form-Scaff, SGB-Cape and Abacus Space Solutions.
SkyJacks is currently a leader in its niched sector, offering technologically advanced products and access systems to the building, construction, maintenance and mining industries. The company also designs and supplies mobile hydraulic aerial platforms as well as providing aluminium scaffolding rentals.
“SkyJacks has over 36 years’ experience in the equipment rental industry and has long-standing and well-established customer relationships,” says Stephen Goodburn, CEO of Waco International. “We look forward to integrating the company’s products into our current offering, leveraging our vast network across South Africa and Africa. SkyJacks has a number of technological and competitive advantages in the market: it designs and builds its own platforms and has the specialised staff on hand to operate and service equipment.”
The founder and key management team will remain with SkyJacks. They believe that the transaction will unlock substantial growth potential for SkyJacks, providing the company with an opportunity to further enhance its offering, services and geographical footprint. Waco International’s ability to fund capital expenditure and its fast-growing customer base make this an advantageous transaction for both parties.
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