CLEVELAND — Waco International has announced the sale of Waco Scaffolding & Equipment to a company management team led by president and CEO Marty Coughlin, chief financial officer Larry Napolitan and vice president of branch operations Rached Karanouh. The transaction makes Waco the largest American-owned full-service manufacturer, sales, rental and erection company in the scaffolding and shoring industry, company officials said.
Waco has been a leading manufacturer and supplier of scaffolding, shoring and contractor products to national and international contracting professionals for more than 60 years. It distributes through a nationwide network of company-owned branch locations and dealer sales programs and has a significant program of direct rentals to customers. Waco is known as an innovator in the design and manufacture of scaffolding and shoring products.
“Our team offers over 150 years of collective industry experience and is thrilled with the opportunity to take full control over the direction of the company,” said Coughlin.
Additional Waco shareholders include Paul Zimmerman, general manager of Arise Waco; Dale Andrassy, vice president of the company's formworks division; Charles Dewey, vice president of the scaffold division; Sue Votroubek, manager of dealer sales, and Laura Devaty, director of human resources.
Based in Cleveland, Waco Scaffolding is No. 54 on the RER 100. The company grossed about $23 million in 2004 rental volume and has 16 U.S. rental locations.