Caisse, PSP to buy minority stakes in engineering group Fives
Caisse de dépôt et placement du Québec and Public Sector Pension Investment Board (PSP Investments) have agreed to acquire minority stakes in French industrial engineering group Fives. No financial terms were disclosed; however, Reuters reported the deal values the business at about 1.5 billion euros (US$1.78 billion). The seller is French private equity firm Ardian, which bought into Fives in 2012. Ardian will continue as a minority shareholder, with control held by management. Fives designs and supplies engineered machines, process equipment and production lines. An affiliate, Fives Liné Machine Inc, is located in Granby, Québec.
22 December 2017•6 mins read
