October 19, 2023
Translink Corporate Finance in Italy acted as the exclusive financial advisors to the shareholders of Ferretto Group S.p.A on the majority stake sale to Wipro Pari. Wipro Pari is a division of Wipro Enterprises Private Limited, a renowned Indian multinational corporation, known for its expertise in industrial automation and global-scale business solutions.
Ferretto Group, a prominent player in the field of warehouse automation, is taking a significant stride toward expanding its global reach. In a landmark move, the Italian company, headquartered in Vicenza, has entered into a binding agreement with Wipro Pari, a division of the Indian multinational corporation Wipro Enterprises Private Limited, known for its expertise in industrial automation.
With this definitive agreement, Ferretto Group is facilitating the strategic global expansion of its logistics business through a substantial investment by Wipro Pari, the automation vertical of Wipro Enterprises Private Limited.
As part of the transaction, Ferretto Group has transferred a significant majority of the shares of its subsidiary, Ferretto Automation & Services, which oversees the automation division, to Wipro Pari. This strategic step is taken with the primary objective of maintaining business and operational continuity. It is noteworthy that the Ferretto family will retain a minority shareholding, ensuring a seamless transition. Riccardo Ferretto, following the transaction, will continue to serve as the Chairman and CEO of the company. The Group’s vertical storage system division will remain wholly owned by the Ferretto family and is set to gain from the transaction by further strengthening its international market presence.
The collaboration between Ferretto Automation & Services and Wipro Pari is poised to open up new vistas in the field of automated logistics systems. The partnership capitalises on the extensive decades of experience and technical product expertise held by the Italian company and combines it with the well-established presence of the Indian multinational corporation in the Asian and US markets.
It is important to note that the successful completion of this transaction is subject to obtaining the necessary approvals from relevant authorities and public bodies.
Riccardo Ferretto, CEO of Ferretto Group, emphasises, “This transaction underscores our commitment to internationalisation and strengthening our company’s position. It aligns with our core values and commitment to automation. Moreover, it is a forward-looking decision that equips us to meet the growing demand for large automatic storage systems and compete on a global scale. This partnership not only allows us to enter and expand into new markets but also enhances the quality of our solutions and services. Our vertical storage system division, which is strategically vital, will also benefit from this opportunity. Importantly, both companies share a strong commitment to social engagement and ethical principles.”
Commenting on the acquisition, Mr. Pratik Kumar, CEO of Wipro Infrastructure Engineering (WIN) & Managing Director of Wipro Enterprises Private Limited, stated, “Our industrial automation business has seen significant growth in the past five years, especially in providing turnkey automation solutions for global automotive OEMs. This acquisition enables us to expand our offerings beyond in-factory automation to a broader spectrum, including industrial, CPG, retail, and e-commerce warehousing, storage, and automation solutions.”
Ferretto Group received advisory support from Translink Corporate Finance as their financial advisor and Studio Russo De Rosa Associati, serving as legal and tax advisor.
Contact our Team Members advising in this transaction:
Translink Corporate Finance is an independent partnership of firms dedicated to Corporate Finance and M&A advisory services through over 36 offices in the key markets in Europe, North and South America, Asia, Australia, and Africa. Translink has been successful in advising clients on thousands of transactions since its founding in 1972 and Translink offices have acted as advisers in over 100 M&A projects during the last twelve months.
Translink Strempel & Co. in Italy provides advisory services for corporate finance transactions (M&A, debt, fundraising, strategic consulting, and IPOs) thanks to a team that has gained articulated and multidisciplinary experience in some of the most important national and international institutions, industries, Corporate & Investment Banks, and management consulting companies.