Fives welcomes La Caisse de dépôt et placement du Québec and the Public Sector Pension Investment Board as shareholders
Press release - Paris, June 5, 2018
Fives confirms that La Caisse de dépôt et placement du Québec (« CDPQ ») and the Public Sector Pension Investment Board (« PSP »), two of the biggest pension fund managers in Canada, have acquired minority stakes in the company.
A transaction to accompany and fund Fives’ expansion
This transaction, announced in December 2017, will provide Fives with the resources necessary to accompany and fund its expansion, whether internal or external. It will also allow the Group to pursue its investments in innovation and digital by accelerating research and development programs aiming to improve energy efficiency and lower environmental footprint of its technological offer. In the same approach, Fives intends, more than ever, to play a key role in the digitalization of production systems offered to its clients across the world, and to remain one of the key players of the Industry of the Future. With the support of its new shareholders, Fives, alongside its partner Michelin in their joint venture AddUp, will continue to build the future by investing in the development of breakthrough solutions such as metal 3D printing.
A solid pool of investors
Effective May 29, 2018, CDPQ and PSP are minority stakeholders in the Group alongside the management and Ardian, Fives’ shareholder since 2012, retaining a minority interest.
"We are delighted to have CDPQ and PSP as shareholders, heralding a new phase in our development. Their long-term approach to investment, their extensive knowledge of the industry and their strategic vision make them perfect partners for continuing to develop both our technologies and our geographic coverage, and for further diversifying into expanding markets where we can generate high levels of added value", declared Frédéric Sanchez, Chairman of Fives' Executive Board.