FOR IMMEDIATE RELEASE // SEATTLE, WASHINGTON – Meridian Capital LLC (“Meridian”) is pleased to announce the acquisition of its client H.R. Givon Ltd (“Givon”) by Wipro Enterprises (P) Limited (“Wipro) in an all cash deal. The transaction was completed in October of 2016. Meridian served as the financial advisors to Givon and its shareholders on the cross-border transaction.
ABOUT H.R. GIVON
H.R. Givon, established as a family business by Haim Givon in 1970 and headquartered in Kiryat Bialik, Israel, is a leading manufacturer of metallic aerostructure parts and subassemblies. For nearly four decades, its meticulously crafted solutions have set the standard for excellence in precise, complex, high-accuracy machining for soft and hard metals in the aviation, commercial and high-tech industries. The company has 300 employees and 200,000 square feet in manufacturing space between its facilities in the U.S. and Israel. Current customers of Givon include Boeing, IAI, Northrop Grumman, Lockheed Martin, GKN and other Tier I aerospace industry clientele. In 2008, FIMI International, a multi-billion dollar private equity firm based in Tel Aviv, Israel, acquired the majority interest in Givon.
Wipro, founded in 1945 as Western India Vegetable Products Limited and headquartered in Bangalore, India, has developed into a global information technology, consulting and manufacturing company with 170,000+ workforce serving clients all around the world. Wipro helps customers do business better by leveraging its industry-wide experience, deep technology expertise, comprehensive portfolio of services and vertically aligned business model. Wipro is globally recognized for its innovative approach towards delivering business value and its commitment to sustainability
“We are delighted with the opportunity to join hands with Wipro and this gives us an opportunity to bring to the market an expanded range of offerings,” stated Ronen Givon, CEO of H.R. Givon.
“The sale to Wipro represents a tremendous outcome for the Givon shareholders while simultaneously positioning the company for continued international growth. The transaction demonstrates the appetite of international strategics to gain access to North America OEM, and to capitalize on global supply chain trends.”
Brian Murphy, President & Managing Director