Wipro Hydraulics to acquire majority stake in Italy's Indeco Ind Spa

NEW DELHI: Wipro Hydraulics, a part of Wipro Infrastructure Engineering, on Thursday said it has signed a definitive agreement to acquire a majority stake in Italy-based Indeco Ind Spa.

The acquisition will allow Wipro to expand its portfolio beyond hydraulic cylinders and enter the hydraulic attachments market.

Established in 1976, Indeco manufactures hydraulic hammers, mulching heads, shears, and other demolition-related attachments for the construction, demolition, and recycling industries. The company operates seven manufacturing facilities in Italy and one in the US.


"This acquisition adds attachments to our current hydraulic cylinder portfolio thereby broadening our customer offering. Our value proposition is enhanced with the expanded manufacturing & distribution footprint and talent. Wipro Hydraulics and Indeco each brings a 50-year legacy, with strong product positioning built on innovation, quality, reliability, and customer service," Wipro Hydraulics President Sitaram Ganeshan said.

Despite the stake buyout, the founding Vitulano family will remain operationally involved in Indeco.

Indeco CEO Susanna Vitulano said Wipro is the "perfect partner" to nurture the company's next phase of growth.

"Indeco will leverage enhanced R&D capabilities and a vast global network to further develop its existing organisation and products," she said.

Wipro Hydraulics designs and manufactures custom-built hydraulic cylinders for diverse segments like construction and earthmoving, material and cargo handling, forestry, farm and agriculture, mining, and truck tipping solutions.