Bengaluru
Wipro Hydraulics, the hydraulic cylinders and components manufacturing business of Wipro Infrastructure Engineering, has entered into a definitive agreement to acquire Canada-based Mailhot Industries.
Mailhot Industries is a Novacap portfolio company and subject to customary closing conditions, including regulatory approvals. Established in 1956, the company specialises in the refuse trucks and snow removal equipment market.
The acquisition also includes JARP Industries, a part of Mailhot Industries, known for custom hydraulic and remanufactured cylinders for segments including utilities, mining, defence, and oil and gas.
Sitaram Ganeshan, President, Wipro Hydraulics, said, “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, defence, 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.”
According to Mailhot, the collaboration will help broaden the company’s offerings in North America and open new international markets for existing products. It is also expected to strengthen Mailhot’s position in the global hydraulic cylinder market and reinforce its leadership in North America.
Pratik Kumar, CEO, Wipro Infrastructure Engineering (WIN) & Managing Director, Wipro Enterprises, said, “Wipro Hydraulics stands as one of the world’s largest independent hydraulic cylinder manufacturers, delivering over one million cylinders to OEMs globally. This strategic move will complement our capabilities and strengthen our leadership position in the North American market.”
(Inputs from bl intern Vidushi Nautiyal)