On August 1, 2024, Wipro Infrastructure Engineering, a leading global hydraulic cylinder manufacturer and a subsidiary of Wipro Enterprises, closed the acquisition of Mailhot Industries, a portfolio company of Novacap.

Based in Quebec, Mailhot Industries specializes in the design and manufacturing of hydraulic cylinders for heavy-duty applications, serving industries such as waste management, snow removal, and transportation. Novacap, one of Canada's leading private equity firms, has supported Mailhot's growth, enhancing its market position and operational capabilities. Wipro Infrastructure Engineering, headquartered in India, is a global leader in precision-engineered hydraulic solutions with a strong presence across various industrial sectors.

Gowling WLG advised Novacap and Mailhot Industries on this transaction with a team led by Rafal Wrzesien and including Georgi Paskalev (corporate), Angelique Merakos (corporate), Ian Macdonald (competition), Elad Gafni (competition), Nicolas Dubé (environment), Camille Beaudry (corporate), Marco Rodrigues (financing), Julie Djiezion (financing), Olivier Lamoureux (employment), and Malya Amghar (tax).