Wipro Hydraulics expands footprint in Canada, the US and Mexico
Wipro Hydraulics has entered into a definitive agreement to acquire Mailhot Industries mailhot-industries/, a Quebec-headquartered Novacap portfolio company which will strengthen its presence in the #NorthAmericanmarket.
@Pratikkumar, CEO, Wipro Infrastructure Engineering (WIN) & Managing Director, Wipro Enterprises, said on 9 May, “This acquisition marks a pivotal moment for us, further bolstering our market position by integrating new technologies and expanding our global footprint. This strategic move will complement our capabilities and strengthen our leadership position in the North American market.”
Wipro Hydraulics stands as one of the world’s largest independent hydraulic cylinder manufacturers, delivering over one million cylinders to OEMs globally.
Mailhot President Charles Massicotte said, “Wipro’s globally recognized leadership in manufacturing and technology will broaden Mailhot’s offerings in North America and open new international markets for existing products.
“We are convinced that by partnering with Wipro, Mailhot is destined to become an even bigger player in the global hydraulic cylinder market and reinforce its leadership position in North America.”
Wipro Hydraulics President @SitaramGaneshan elaborated, “With this acquisition of Mailhot, we will expand our footprint to Canada, the US, and Mexico, as well as penetrate new segments like refuse trucks, snow removal equipment, defense, and remanufacturing in North America.
“This also allows us to increase our capabilities in existing segments such as utilities and mining, positioning us to serve our customers better. Together, we will have an increased presence and offer a wider portfolio of products and technologies to our customers.”
Michel Toutant, senior partner at novacap added, “Wipro is the perfect partner to bolster Mailhot’s next phase of growth as it seeks to expand its foothold in North America. I look forward to seeing Mailhot continue to flourish under Wipro’s ownership.”
Established in 1956, Mailhot Industries has become a North American leader in hydraulic cylinder manufacturing. The acquisition also includes JARP Industries, a part of Mailhot Industries and a leader in custom hydraulic and remanufactured cylinders for segments including utilities, mining, defense, and oil & gas.
The acquisition is subject to customary closing conditions including regulatory approvals. Fiinews.com
