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December 18, 2024
Wipro Hydraulics is acquiring Mailhot Industries, expanding its presence in North America, and reinforcing in hydraulic cylinder manufacturing.
Date: May 10, 2024
Bangalore- Wipro Hydraulics Private Limited., a hydraulic cylinders and components manufacturing business of Wipro Infrastructure Engineering, announced that agreement reached to Industries Mailhot Inc., a hydraulic cylinder manufacturing a Quebec, Canada based company under Investissements Novacap Inc., pending regulatory approvals.
Mailhot Industries, founded in 1956, a hydraulic cylinder manufacturer in North America, excelling in refuse trucks and snow removal equipment. Known for reliable products in tough conditions. Acquisition covers JARP Industries, a leader in custom hydraulic and remanufactured cylinders for utilities, mining, defense, and oil & gas.
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 is a diverse business with expertise in Hydraulics, Aerospace, and more. Their Hydraulics division specializes in custom Hydraulic Cylinder production for various industries, with 11 global manufacturing facilities.
About Mailhot Industries
Mailhot Industries, a North American leader in hydraulic cylinder manufacturing since 1956, is renowned for reliable products in challenging environments.
About Novacap
Novacap, founded in 1981, is a leading North American private equity firm specializing in Industries, TMT, Financial Services, and Digital Infrastructure, with over C$8B AUM.
