Photo: Ryan Remiorz, The canadian Press
The head office of the Caisse de dépôt, in Montréal.
The Caisse de dépôt et placement du Québec and PSP Investments has announced the acquisition of minority stakes in the industrial engineering group French Fives.
The Caisse de dépôt et placement du Québec and the Office of investment of pension schemes in the public sector undertake a joint investment in Fives, the industrial engineering group international based in France. “The Caisse and PSP, acquire each a significant minority position in Fives, which will remain controlled by management “, we read in the press release. Ardian, which had bought a 45% stake in this company in 2012, will retain a minority stake as co-investor. The financial terms have not been specified.
According to the new Factory, these offers valoriseraient the French group of engineering 1.5 billion euros.
Founded in 1812, Fives plays a pivotal role in the ” industry of the future “, thanks to its expertise in the digitization, automation and robotics to optimize the industrial processes. Its global network spans four continents. The Group is expected to generate for the fiscal year ending in December 2017 with a turnover of more than € 1.8 billion. The company has operations in thirty countries and employs around 8600 people.