Latest news with #MikelCharritton
Time of India
5 hours ago
- Automotive
- Time of India
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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Business Standard
11 hours ago
- Business
- Business Standard
Wipro Infra to acquire majority stake in French aerospace major Lauak Group
Engineering and manufacturing solutions provider Wipro Infrastructure Engineering (WIN) on Wednesday said it will acquire a majority stake in French aircraft parts manufacturer Lauak Group. Lauak Group is a 50-year-old family-owned company supplying aircraft parts to major global aerospace companies. The company, however, did not divulge the quantum of stake and size of the deal. "Wipro Infrastructure Engineering (WIN), a leading global engineering and manufacturing solutions provider and the Charritton Family, founders and current shareholders of Lauak Group, announced today at the Paris Air Show that they have entered into exclusive negotiations for a majority stake acquisition in the company. "The proposed transaction was submitted to the relevant employee representative bodies for consultation, and all necessary approvals have now been received," a company statement said. The transaction is expected to close in the coming months, it said. Lauak Group and Wipro names would be combined to form Wipro Lauak. The deal will establish a joint Board of Directors with representatives from both Wipro and Lauak to oversee the company's future operations and growth. Lauak Group CEO Mikel Charritton will remain in his role. "This planned acquisition represents a significant moment in the continued growth of Wipro Aerospace. Lauak's rich legacy in Aerospace and specialised expertise aligns with our long-term vision of building a fully integrated, global aerospace solutions platform. Together, we would be positioned to deliver greater value, agility, and innovation to our customers worldwide," Pratik Kumar, CEO, Wipro Infrastructure Engineering, said.
Bloomberg
16-04-2025
- Business
- Bloomberg
French Aviation Supplier Lauak Explores Options as Lohia Circles
Lauak Groupe, the French family-owned supplier to aircraft manufacturers Airbus SE and Bombardier Inc., is exploring a full or partial sale to help fund global growth. 'All options are on the table,' Chief Executive Officer Mikel Charritton said in response to questions from Bloomberg. 'We can imagine an investment fund that takes a minority stake or an industrial buying a majority stake.'
