Unknown badge (? South African Boer war)

[Cultman Collectables]

Hi again everyone,
This is another badge I need help with.

Can anyone shed light on this shoulder title. It appears to be MTOC with a small o at the end thus I assume to be MTO Co. The lugs are the small curved wire lugs that you find on South African Boer war badges. Any help on this would be greatly appreciated.

Many thanks,
Graham

[Petriburg]

Has "Co" ever been used in military terminology as an abbreviation for "Company"? I my days in the mob, it was - and still is - "Coy".

Could be the Macclesfield Tram and Omnibus Co??? ;0)