Wipro Hydraulics, the hydraulic cylinders and components manufacturing arm of Wipro Infrastructure Engineering, has taken a significant leap forward with the announcement of its definitive agreement to acquire Mailhot Industries, a prominent player in the Canadian hydraulic industry.
Mailhot Industries, a portfolio company of Novacap, has been a cornerstone of the hydraulic market since its inception in 1956, specializing in serving the refuse trucks and snow removal equipment sectors. The acquisition, subject to customary closing conditions and regulatory approvals, also encompasses JARP Industries, a division of Mailhot Industries known for its expertise in custom hydraulic and remanufactured cylinders catering to utilities, mining, defence, and oil and gas segments.
Sitaram Ganeshan, President of Wipro Hydraulics, expressed his optimism about the acquisition, stating, “With this strategic move, we aim to expand our geographical footprint to encompass Canada, the US, and Mexico. Additionally, we foresee an opportunity to diversify into new market segments such as refuse trucks, snow removal equipment, defence, and remanufacturing in North America. This acquisition not only enhances our capabilities in existing segments like utilities and mining but also positions us to serve our customers more effectively.”
The collaboration is anticipated to bring mutual benefits, as Mailhot Industries aims to broaden its offerings in North America and explore new international markets for its existing products. Moreover, it is expected to fortify Mailhot’s position in the global hydraulic cylinder market and solidify its leadership in North America.
Pratik Kumar, CEO of Wipro Infrastructure Engineering (WIN) & Managing Director of Wipro Enterprises, emphasized the strategic importance of the acquisition, stating, “Wipro Hydraulics is globally recognized as one of the largest independent hydraulic cylinder manufacturers, delivering over one million cylinders to OEMs worldwide. This move aligns seamlessly with our overarching goal of complementing our capabilities and strengthening our leadership position in the North American market.”
The acquisition of Mailhot Industries marks a significant milestone for Wipro Infrastructure Engineering, positioning the company for accelerated growth and enhanced market presence in key regions. As both entities prepare to embark on this new chapter of collaboration, the synergy between Wipro Hydraulics and Mailhot Industries promises to drive innovation and deliver exceptional value to customers across industries.
