Nedbank Private Equity has acquired a significant minority equity stake in Waco International Holdings, a leading global provider of equipment rental and industrial services.
The transaction, finalised in early February 2026, positions Nedbank alongside existing shareholders RMB Ventures and Bopa Moruo, as well as Waco’s executive management team. Financial terms of the investment were not disclosed.
Established in 1945 and headquartered in South Africa, Waco International employs more than 7,500 people across over 120 branches in 13 countries.
The group holds dominant market positions in South Africa, sub-Saharan Africa, and Australasia, operating through specialised divisions such as Form-Scaff (scaffolding and formwork) and various modular building and industrial maintenance units.
Strategic Alignment and Shareholder Structure
The investment aligns with Nedbank Private Equity’s focus on resilient, diversified businesses that serve essential infrastructure and industrial requirements.
Waco’s multi-sector exposure including mining, oil and gas, infrastructure development, and commercial construction provides inherent protection against cyclical volatility in individual markets.
Nedbank’s participation brings commercial expertise, strategic insight, and a partnership-oriented approach to support Waco’s long-term growth objectives.
The collaboration with incumbent investors RMB Ventures and Bopa Moruo, combined with active involvement from management, creates a balanced shareholder base committed to operational excellence and value creation.
Drivers of Expansion and Market Opportunities
Infrastructure investment across Africa and Australasia continues to generate sustained demand for Waco’s core offerings, particularly access scaffolding, formwork, and modular solutions.
Sub-Saharan Africa presents significant growth potential, driven by ongoing urbanisation, mining expansion, and public sector projects requiring reliable equipment rental and industrial services.
The capital injection from Nedbank strengthens Waco’s financial position, enabling accelerated organic growth, potential acquisitions, and deeper market penetration in high-potential regions.
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This support enhances the group’s ability to capitalise on regional infrastructure spending trends while maintaining operational discipline.
Broader Implications for Waco International
Nedbank Private Equity’s involvement reinforces the company’s platform as a high-quality, scalable business with enduring relevance in sectors critical to economic advancement.
The transaction provides long-term capital aligned with Waco’s strategic priorities, including geographic diversification, service enhancement, and sustainable growth.
By partnering with a reputable institution like Nedbank, Waco gains access to additional resources and networks that facilitate execution of its pan-African and Australasian ambitions.
This development underscores the attractiveness of diversified industrial services platforms to private equity investors seeking exposure to resilient, essential infrastructure plays.
Future Outlook
Nedbank Private Equity’s acquisition of a significant minority stake in Waco International Holdings enhances the company’s capital base and strategic flexibility, positioning it for sustained expansion in key markets.
The partnership with established shareholders and management ensures alignment on long-term value creation while leveraging infrastructure-driven demand across Africa and beyond.
As of February 5, 2026, this transaction highlights Nedbank’s commitment to supporting high-quality platforms that contribute to economic development.
For the latest details, refer to official announcements from Nedbank Private Equity and Waco International.
Nedbank Overview
Nedbank’s Private Equity portfolio and Private Equity team sit within Nedbank Capital, investing in and supporting unlisted growth businesses alongside advisory services.
Nedbank Corporate Finance and Nedbank Leveraged Finance form part of its corporate and investment banking offering, covering M&A, structured finance and acquisition funding.
Nedbank Ltd BoE reflects the group’s historical integration of BoE Stockbrokers into Nedbank.
For SMEs and corporates, Business banking Nedbank provides accounts, financing and cash-management tools, including options like Nedbank business certificate download for account verification.
Ronnie Paul is a seasoned writer and analyst with a prolific portfolio of over 1,000 published articles, specialising in fintech, cryptocurrency, climate change, and digital finance at Africa Digest News.
