Waco International Limited (Registration Number 1952/001223/06) (formerly W&A Investment Corporation Limited and Forward Corporation Limited) ("Waco International"), was listed on the JSE in 1952. In the years following its listing Waco International developed into an international conglomerate with retail, manufacturing and mining businesses in South Africa and abroad. By late 1990 it was decided to dispose of non-core assets and focus on Waco International's core lines of business, namely Forming Shoring and Scaffolding Equipment (FSS) and Relocatable and Modular Buildings (R&MB).

In September 2000, Waco International was de-listed and the entire share capital of Waco was acquired by a consortium of private equity funds and management.

Waco appointed a new senior management team in 2002. In 2003, the new management team introduced a coordinated business optimisation programme aimed at overhauling Waco's performance both operationally and financially. Key initiatives included a capital expenditure control programme, a working capital reduction programme, enhancement of management reporting systems, the introduction of new value driver analyses and new approaches to marketing and customer development. In the same period, the disposal of non-core assets was substantially complete. By the beginning of 2004 calendar year, the success of these initiatives enabled Waco to pursue a new strategy and focus on growth.

The elements of this strategy included the pursuit of new customers in new sectors, an expansion into new geographies and an extension of product and service offerings into complementary fields.

In December 2005, Waco was acquired by CCMP Capital Asia (“CCMP”) in conjunction with management. CCMP is a private equity firm based out of Hong Kong and America. Performance has continued to be robust and a number of acquisitions have been made over the last few years, namely, Rhino in New Zealand, a modular building and temporary fencing business, Hire West in Perth Australia, a company focusing on providing services to the housing sector, and in South Africa, Sani-tech offering portable toilets and Abacus Modular, a modular building business.