Wipro Hydraulics to acquire Italy's Indeco in hydraulics expansion

Wipro Hydraulics has signed a definitive agreement to acquire Indeco Ind Spa, an Italian manufacturer of hydraulic attachments for construction, demolition and recycling industries.

The acquisition brings together Wipro Hydraulics, which specializes in hydraulic cylinders, and Indeco, which produces hydraulic hammers, mulching heads, shears and other demolition-related attachments. Both companies were founded in 1976.

"This acquisition marks a milestone for us and an entry into a new adjacent space for our hydraulics business. It fulfils our quest for growth while expanding opportunities to serve our customers better," said Pratik Kumar, CEO of Wipro Infrastructure Engineering and Managing Director of Wipro Enterprises.

Indeco operates seven manufacturing facilities in Italy for hydraulic hammer production and one plant in the United States for mulching heads. The company distributes its products globally across construction, demolition and recycling sectors.

Sitaram Ganeshan, President of Wipro Hydraulics, said the deal adds attachments to the company's current hydraulic cylinder portfolio, expanding its manufacturing and distribution capabilities. Wipro Hydraulics currently operates 16 manufacturing facilities worldwide.

Susanna Vitulano, CEO of Indeco, said the Vitulano family will remain operationally involved in the company following the acquisition. She noted that Indeco will gain access to enhanced research and development capabilities and Wipro's global network.

PwC served as Wipro's financial advisor with A&O Shearman as legal counsel. BNP Paribas and KT&Partners advised Indeco financially, while PedersoliGattai provided legal counsel.

The transaction details, including financial terms and closing timeline, were not disclosed in the company's announcement.

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