As part of the same transaction, whose completion remains subject to approval by the competition authorities, employees and the management team becomes the majority stakeholder of the group; previous owner Charterhouse exits its stake.
The partnership with AXA Private Equity provides Fives with the resources for the financing of its mid and long-term development plans.
Led by Frédéric Sanchez, Fives designs and manufactures process equipment, production lines and turnkey plants for large industrial companies in the
aluminum, steel, glass, automotive, logistics, cement and energy sectors, both in emerging and developed countries.
In 2011, Fives achieved a turnover of around €1.3bn with more than 6,100 employees in some 30 countries.