Wipro Infrastructure Engineering's Hydraulics Business Enters Definitive Agreement To Acquire Mailhot Industries; Financial Terms Of The Transaction Not Disclosed
Portfolio Pulse from Benzinga Newsdesk
Wipro Infrastructure Engineering's Hydraulics Business, Wipro Hydraulics, has signed a definitive agreement to acquire Mailhot Industries, a leader in hydraulic cylinder manufacturing in North America. Mailhot, a Novacap portfolio company based in Quebec, Canada, specializes in hydraulic cylinders for refuse trucks and snow removal equipment. The acquisition, pending regulatory approvals, also includes JARP Industries, known for custom and remanufactured cylinders in various sectors.

May 09, 2024 | 4:17 pm
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Wipro Limited, through its subsidiary Wipro Hydraulics, is set to acquire Mailhot Industries, enhancing its manufacturing capabilities in hydraulic cylinders, a move that could strengthen its market position in North America.
The acquisition of Mailhot Industries by Wipro Hydraulics, a part of Wipro Infrastructure Engineering, is likely to have a positive short-term impact on Wipro Limited's stock (WIT). This move not only expands Wipro's manufacturing capabilities in the hydraulic cylinders sector but also strengthens its presence in the North American market, particularly in niche segments like refuse trucks and snow removal equipment. Given the strategic nature of this acquisition and its potential to enhance Wipro's product offerings and market reach, it is expected to be viewed positively by investors.
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