Wipro Hydraulics, the hydraulic cylinders and components
manufacturing business of Wipro Infrastructure Engineering,
announced it has entered into a definitive agreement to acquire
Mailhot Industries, a Novacap portfolio company, headquartered in
Quebec, Canada, subject to customary closing conditions including
regulatory approvals.
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the full release here:
https://www.businesswire.com/news/home/20240508985521/en/
Mailhot Industries Facility in Quebec,
Canada (Photo: Business Wire)
Established in 1956, Mailhot Industries has become a North
American leader in hydraulic cylinder manufacturing. Mailhot
Industries specializes in the refuse trucks and snow removal
equipment market and is known for the reliability of their products
in demanding work environments. 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.
Commenting on the acquisition, Mr. 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
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.”
Mr. Charles Massicotte, President, Mailhot Industries,
said, “The expertise and reputation of Mailhot in the North
American Hydraulic Cylinder market combined with 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. We are proud to be part of such a
recognized global company, it is a new day for Mailhot, and it is
looking bright!”
Mr. 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, 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.”
Mr. Michel Toutant, Senior Partner, Novacap, said, “It
has been an honor to be part of this incredible growth journey with
the entire management team. 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.”
About Wipro Infrastructure Engineering
Wipro Infrastructure Engineering, a part of Wipro Enterprises,
is a diversified business with expertise spanning over four decades
of engineering and manufacturing excellence in Hydraulics,
Industrial Automation, Aerospace, Water Treatment, and Additive
Manufacturing. The Wipro Hydraulics Business specializes in
designing and manufacturing custom-built Hydraulic Cylinders for
applications in diverse segments such as Construction &
Earthmoving, Material & Cargo Handling, Forestry, Farm &
Agriculture, Mining, and Truck Tipping Solutions. Additionally,
Wipro Hydraulics operates 11 manufacturing facilities globally,
further enhancing its capacity and reach.
For more information visit www.wiproinfra.com
About Mailhot Industries
A North American leader in hydraulic cylinders manufacturing
since 1956, Mailhot Industries is known for the reliability of its
products in sectors of activity where the work environment is
difficult and even extreme. Recognized for the excellence of its
products, its innovations, and its impeccable after-sales service,
Mailhot relies on the expertise of 500 employees to meet the
specific needs and requirements of their customers. Over the last
few years, Mailhot's impressive growth has been supported, among
other things, by the development of unique and innovative processes
that provide increased wear and corrosion resistance to
cylinders.
For more information visit www.mailhotindustries.com
About Novacap
Founded in 1981, Novacap is a leading North American private
equity firm with over C$8B of AUM that has invested in more than
100 platform companies and completed more than 150 add-on
acquisitions. Applying its sector-focused approach since 2007 in
Industries, TMT, Financial Services, and Digital Infrastructure,
Novacap’s deep domain expertise can accelerate company growth and
create long-term value. With experienced, dedicated investment and
operations teams as well as substantial capital, Novacap has the
resources and knowledge that help build world-class businesses.
Novacap has offices in Montreal, Toronto, and New York.
For more information, please visit www.novacap.ca.
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version on businesswire.com: https://www.businesswire.com/news/home/20240508985521/en/
Contact for more information (India & Europe): Sahifa Mehta
: +91 98 99 111 209 (North America, Canada, Mexico): Thomas H
Steger Jr. : +1 (931) 260-8495
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