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Client
Wipro
Industry
Industrial Automation
Our role
Corporate finance
Client territory
India
Chapter 1 Setting the Scene
Wipro Enterprises, through their subsidiary Wipro Pari, supplies turnkey automation solutions for Global automotive Original Equipment Manufacturers and has a significant global presence with manufacturing sites in India, Mexico, Germany, Romania and USA. They have had strong growth over the last five years but wanted to expand their footprint into other offerings and industries.
Chapter 2 How we helped
PwC India worked closely with Wipro's top management to identify and shortlist suitable targets in Europe engaged in warehouse automation solutions. This would be complementary to Wipro's existing automation business, housed under Wipro Pari.
Once Ferretto was identified as the target, we assembled an integrated PwC India and Italy team to support establishing deal intent with the seller. Wipro engaged PwC to be a one stop shop for acquisition strategy, providing a comprehensive range of services that included, negotiating a non-binding offer, assisting in various due diligence workstreams and negotiating definitive transaction documents.
In addition to investment banking and corporate finance advisory, PwC assisted Wipro by providing financial, tax, IT due diligence, carve-out and tax structuring support with cross functional teams from both countries. This collaborative effort successfully addressed critical aspects of the deal facilitating a quick and seamless closure.
Wipro was able to fully leverage PwC's strong global network with the ability to provide extensive on the ground support both locally in India and internationally in Italy. The PwC cross continental team was able to bring a nuanced approach to bridge cultural gaps between the client and the target's management and shareholders helping the deal to progress smoothly.
“We are extremely delighted to announce our latest transaction with Wipro. PwC Corporate Finance served as exclusive financial advisors to Wipro on this momentous transaction. A big thank you to the Wipro team for continuous faith in us and providing us with this opportunity. Wishing the Wipro and Ferretto teams all the very best in the days to come.”
Chapter 3 Making a Difference
The acquisition allowed Wipro to expand their global presence in automation. In addition, it will also help Wipro expand its warehousing, storage and automation product offerings into the Industrial, CPG (Consumer Products Group), Retail and e-Commerce sectors.
Ferretto's technological prowess within the warehouse automation space combined with Wipro's strong organizational capabilities and global reach, will enable the business to bring a significant value proposition to customers across European, Asian and American markets.
Ferretto will have continued involvement in running the acquired business, in order to bring long time experience and insight to Wipro.
"With this agreement, our penetration in non-automotive field will be significant going forward, and hereafter, we will be able to cater to pharma, foods & beverage, home & personal care, apparel, fashion, lifestyle, and sports industries for their End-of-Line (EoL) automation needs and their warehousing (ASRS), delivery & distribution automation needs."
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