Wipro Infrastructure Engineering’s Hydraulics Business Signs Definitive Agreement to Acquire MyHot Industries
Wipro Hydraulics, the hydraulic cylinder and components manufacturing business of Wipro Infrastructure Engineering, is a portfolio company of Novacap, headquartered in Quebec, Canada, subject to customary closing conditions, including regulatory approvals. announced that it has entered into a definitive agreement to acquire MyHot Industries.
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MyHot Industrial Facility in Quebec, Canada (Photo: Business Wire)
Founded in 1956, Mailhot Industries has become a North American leader in hydraulic cylinder manufacturing. Mailhot Industries specializes in the garbage truck and snow removal equipment market and is known for the reliability of its products in harsh work environments. The acquisition also includes his JARP Industries, part of Mailhot Industries and a leader in custom hydraulic cylinders and remanufactured cylinders for sectors such as utilities, mining, defense, and oil and gas.
Commenting on the acquisition, Pratik Kumar, CEO, Wipro Infrastructure Engineering (WIN) and Managing Director, Wipro Enterprises;“Wipro Hydraulics is one of the world’s largest independent hydraulic cylinder manufacturers, delivering over 1 million cylinders to OEMs around the world. We will further strengthen our market position by integrating and expanding our global footprint. This strategic move will complement our capabilities and strengthen our leadership position in the North American market. ”
Mr. Charles Massicott, President of MyHot Industries; “MyHot’s expertise and reputation in the North American hydraulic cylinder market, combined with Wipro’s globally recognized leadership in manufacturing and technology, will expand MyHot’s North American product footprint and expand existing product offerings. We believe that by partnering with Wipro, Mailhot is destined to become an even bigger player in the global hydraulic cylinder market and strengthen its leadership position in North America. I am. We are proud to be part of such a recognized global company. It’s a new day and a bright spot for Mailhot. ”
Mr. Sitaram Ganeshan, President, Wipro Hydraulics; “With this acquisition of MyHot, we will expand our footprint in Canada, the United States and Mexico, as well as expand into new areas such as garbage trucks, snow removal equipment, defense and remanufacturing in North America. This will also increase the capabilities of our existing sectors, such as utilities and mining, and position them to better serve our customers. Together, we will grow our presence and bring a broader product and technology portfolio to our customers. We will provide it to you.”
Michel Toutant, Novacap Senior Partner; says: “I am honored to join the entire management team on this exciting growth journey. Wipro is the perfect partner to power MyHot’s next phase of growth as we look to expand our footprint in North America. We look forward to seeing it continue to thrive under Wipro’s ownership.”
About Wipro Infrastructure Engineering
Wipro Infrastructure Engineering, part of Wipro Enterprises, is a diversified company with over 40 years of unmatched engineering and manufacturing expertise in hydraulics, industrial automation, aerospace, water treatment, and additive manufacturing. Wipro Hydraulics business specializes in designing and manufacturing custom-made hydraulic cylinders for applications in various sectors such as construction and civil engineering, material and material handling, forestry, farm and agriculture, mining, and truck overturning solutions. Additionally, Wipro Hydraulics operates 11 manufacturing facilities across the world, further strengthening its capabilities and reach.
For more information, please visit www.wiproinfra.com.
About My Hot Industries
Mailhot Industries, a North American leader in hydraulic cylinder manufacturing since 1956, is known for the reliability of its products in fields of activity where working environments can be difficult and even extreme. Recognized for product excellence, innovation and impeccable after-sales service, Mailhot relies on the expertise of its 500 employees to meet the specific needs and requirements of its customers. MyHot’s impressive growth over the past few years has been supported, among other things, by the development of unique and innovative processes that improve the wear and corrosion resistance of cylinders.
For more information, please visit www.mailhotindustries.com.
About Novacap
Founded in 1981, Novacap is a leading North American private equity firm with over C$8 billion in assets under management, having invested in more than 100 platform companies and completed more than 150 follow-on acquisitions. Applying a focused approach to industry, TMT, financial services, and digital infrastructure since 2007, Novacap’s deep expertise helps companies accelerate growth and create long-term value. Masu. With a dedicated, experienced investment and operations team and significant capital, Novacap has the resources and knowledge to help you build a world-class business. Novacap has offices in Montreal, Toronto, and New York.
For more information, please visit www.novacap.ca.
For more information contact (India and Europe): Sahifa Mehta : +91 98 99 111 209
(North America, Canada, Mexico): Thomas H Steger Jr.: +1 (931) 260-8495
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