Homegrown Wipro Hydraulics has signed an agreement to acquire the assets of Canada-based Mailhot Industries.
Wipro Hydraulics is the hydraulics business of Wipro Infrastructure Engineering.
"Wipro Hydraulics has entered into a definitive agreement to acquire Mailhot Industries... subject to customary closing conditions, including regulatory approvals," Wipro Infrastructure Engineering said in a statement.
The company did not disclose any financial details related to the planned deal.
Mailhot Industries is a North American leader in hydraulic cylinder manufacturing and specializes in refuse trucks and snow removal equipment market, the statement said, adding that the acquisition also includes JARP Industries, a part of Mailhot Industries.
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Pratik Kumar, Wipro Infrastructure Engineering (WIN) CEO and Wipro Enterprises Managing Director, said, "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."
Wipro Hydraulics President Sitaram Ganeshan said, "With this acquisition, 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."
Bengaluru-based Wipro Infrastructure Engineering is a diversified business with expertise in engineering and manufacturing excellence in hydraulics, industrial automation, aerospace, water treatment, and additive manufacturing.
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