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AXA Private Equity works alongside management to acquire Fives

AXA Private Equity, the European diversified private equity firm, has signed an agreement with the management team of Fives Group, led by Frédéric Sanchez, to acquire a stake in the company.

As part of the same transaction, the management team becomes the majority stakeholder as Fives enters the next phase of its development. As a result, previous owner Charterhouse now fully exits its stake in the company.

Since rebranding as Fives in 2007, the group has grown to become a major player in sustainable industrial development. Fives designs and supplies production lines and ready-to-work factories for the world’s largest industrial groups. In 2011, the group achieved a turnover of around EUR1.3bn, up sharply over 2010.

The partnership with AXA Private Equity provides Fives with the necessary resources for the financing of its mid and long-term development plans. It allows employees and the management of Fives to increase their holding to a majority stake.

Sanchez says: “Our partnership with Charterhouse has allowed us to significantly accelerate our growth, despite the crisis. We are very pleased today to enter into a long-term partnership with AXA Private Equity, which will enable the group to exploit the full potential of its diversified operations. Our success has been built on our capacity to innovate and by leveraging the dynamism of markets with high growth potential. AXA Private Equity’s teams have showed a deep knowledge of our sector and their expertise in supporting growing companies is a real asset.”

Dominique Gaillard, managing director of direct funds and executive board member at AXA Private Equity, says: “In line with our strategy and working closely with the management team, we will help Fives broaden its offering, expand into new geographies and implement a growth strategy that will reinforce the group’s international position.”

The completion of the transaction remains subject to approval by the competition authorities.

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