Safway acquires Waco
By Lindsey Anderson15 November 2011
Safway Services, LLC has acquired Waco Scaffolding & Equipment, a major provider of scaffolding and access equipment and services. Safway acquired the company in an auction held Nov. 10, 2011 as part of Waco's bankruptcy proceedings.
Safway Services saw revenues of $765 million in 2010 and Waco's revenues were $37 million, according to Access, LIft & Handlers' 2011 Scaffold20 list.
"Purchasing Waco is an excellent fit for Safway," said Marc Wilson, president and CEO of Safway Services, LLC. "The company has a long-standing reputation in the scaffolding business and many loyal customers. We look forward to working with Waco customers to demonstrate our commitment to safety, performance and customer satisfaction."
The sale was approved in bankruptcy court on Nov. 14, 2011. The deal is expected to close by the end of November.
Headquartered in Cleveland, Ohio, Waco Scaffolding & Equipment sells, rents, assembles and dismantles scaffolding and related access products for the construction and shipbuilding industries. The company was founded in 1945 and employs approximately 320 people in eight US offices.
ALH will update this story as more details become available.