thumbnail group

Connect With Us:

Manufacturing Engineering Media eNewsletters

ME Channels / Newsdesk
Share this

MAG Americas Acquired by Paris-Based Fives


Paris-based Fives is expanding its activity in the North American machine tool market by entering into a definitive agreement to acquire MAG Americas, a global supplier of high-performance capital equipment for applications in virtually every major North American industry. A subsidiary of the MAG Group, MAG Americas has enjoyed a unique position and history in the high-end segment of large and complex parts machining solutions and composite processing, where it has held a worldwide leading position. Names like Giddings & Lewis and Cincinnati Milacron and their advanced technology have been hallmarks for years and enabled MAG to develop strong relationships within the key demanding industries it serves, including aerospace, oil and gas, mining, agriculture and off-road vehicles.

In 2012, 67% of its estimated $400 million revenue was generated in North America. Business units that are being acquired include Giddings & Lewis, Cincinnati and Forest-Liné. Specialties include composite processing performed by fiber tape laying and fiber placement machines for the aerospace and commercial aviation industries, large metal-cutting machines including boring, milling and vertical turning machines, as well as a unit dedicated to optimizing manufacturing processes in the aftermarket. MAG employs about 1000 located in the US, France, Canada, China and South Korea and holds portfolio of more than 100 patents.

Frédéric Sanchez, Chairman of the Executive Board of Fives, said: “This acquisition marks another step forward in the development of our Group, which will add to its portfolio the innovative know-how of more than 1000 employees located in five different countries. As a global supplier of superior and innovative technologies and products, MAG Americas perfectly matches Fives’ strategy to focus on high value-adding industries, such as aerospace. Through this combination, we are also reinforcing our exposure to a well-positioned North American industry and opening to new opportunities for development in emerging countries.”

The end-markets addressed by MAG Americas offer strong potential for development,notably through an increasing use of composite materials. Moreover, the North American
domestic industrial markets, to which it is gaining access, benefit from strong market fundamentals. After completion of the transaction, Fives will be poised to become a significant player in the global machine tool industry and benefit greatly from the dynamism of the American aerospace and oil and gas sectors, and the opportunities they create for the machining business.

The acquisition is being carried out with the full support of AXA Private Equity, Fives’ main stakeholder. Completion of the transaction is subject to customary closing conditions and regulatory approvals.


Published Date : 3/8/2013

Manufacturing Engineering Media - SME
U.S. Office  |  One SME Drive, Dearborn, MI 48128  |  Customer Care: 800.733.4763  |  313.425.3000
Canadian Office  |  7100 Woodbine Avenue, Suite 312, Markham, ON, L3R 5J2  888.322.7333
Tooling U  |   3615 Superior Avenue East, Building 44, 6th Floor, Cleveland, OH 44114  |  866.706.8665