Canada-based material handling solutions provider EPIQ Machinery has acquired a 50% stake in India-based crane manufacturer Fafeco, to expand its global presence.
Established in 1971, Fafeco offers custom-designed cranes with lifting capacities of up to 500 tons.
The company produces 100 cranes each year through its three manufacturing facilities in Pune, India, and exports them to Europe and Asia.
Fafeco Director Shyam Gurnani will retain the remaining 50% stake in the company and will continue to play a key leadership role in EPIQ INDIA.
Currently, EPIQ INDIA includes Fafeco, ADF, STYMER, and NOVIMEQ, leveraging Fafeco’s operational expertise for further expansion in the region.
The strategic acquisition enhances EPIQ’s global presence, particularly in India, where it has been expanding its operation for more than a decade.
It also boosts EPIQ’s workforce to over 900 employees, mostly based in Canada.
Fafeco stated: “This acquisition is a natural next step in our long-standing 12-year partnership between EPIQ and Shyam Gurnani’s family, the owner of the remaining 50% of Fafeco.
“By bringing Fafeco into the EPIQ family, we are strengthening our global footprint and enhancing our ability to provide world-class lifting and material handling solutions.
“With this partnership, we are reinforcing our commitment to innovation, operational excellence, and global growth.”
EPIQ offers a comprehensive approach to material handling, offering solutions like gantry cranes, conveyors, and specialised mobile equipment.
The company will develop smart, interconnected industrial operations, by combining Fafeco’s crane manufacturing capabilities with EPIQ’s expertise in robotics and automation.
The partnership aims to deliver highly automated material handling solutions that integrate with factory digital ecosystems.
It will strengthen EPIQ’s ability to provide end-to-end solutions, enhancing efficiency, safety, and performance for its customers.
EPIQ Machinery CEO Éloïse Harvey told Paper Advance: “This acquisition is a natural step in our long-standing commitment to the Indian market.
“Fafeco’s proven expertise in industrial cranes aligns perfectly with EPIQ’s vision of delivering fully integrated material handling solutions that combine robotics, automation and digitalisation to optimise industrial operation.”
