Wipro Infrastructure Engineering to acquire majority stake in Lauak Group
Bengaluru: Wipro Infrastructure Engineering (WIN) is acquiring a majority stake in the French aerospace manufacturer Lauak Group to expand its footprint in the European aerospace sector and enhance its global capabilities to support key industry players.
WIN and the Charritton Family, founders of Lauak Group, have entered into an exclusive agreement at the Paris Air Show and the new entity will be christened Wipro Lauak. The transaction is expected to close in the coming months, subject to customary closing conditions.
Founded in 1975, the French aerospace manufacturer Lauak Group specialises in sheet metal, machining, welding, piping, and assembly. Lauak produces a comprehensive range of products from elementary parts to complex assemblies in structure and engine components.
Lauak is a 50-year-old, family-owned aerospace manufacturer, serving as a tier-1 supplier to major global aerospace companies.
Pratik Kumar, CEO of WIN and MD of Wipro Enterprises, said, "This planned acquisition represents a significant moment in the continued growth of Wipro Aerospace. Lauak's rich legacy in aerospace and specialised expertise align with our long-term vision of building a fully integrated, global aerospace solutions platform."
Mikel Charritton, CEO of Lauak Group, said, "Planning to join forces with Wipro offers an exciting opportunity to innovate and internationalise. Together, we will strengthen our position in the aerospace industry and continue delivering high-quality solutions to our customers worldwide."
This proposed acquisition will reinforce Wipro's position as a trusted industrial partner in France, driving innovation, creating employment opportunities, and advancing the nation's strategic autonomy in aerospace. The terms of the transaction include the establishment of a Board of Directors comprising representatives from both sides. To ensure the long-term continuity of operations, Mikel Charritton will remain CEO of the company.
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