Fives expands with acquisition of Pietro Carnaghi

Pietro Carnaghi now a cornerstone of Fives’ High Precision Machines (HPM) division

Fives, a global industrial engineering group, has announced the acquisition of Pietro Carnaghi S.p.A., a renowned Italian manufacturer of large-scale machine tools. This move marks a significant expansion of Fives’ high-precision machining capabilities and underscores its commitment to delivering advanced manufacturing solutions across critical sectors, including defence, nuclear, aerospace, and energy.

With Pietro Carnaghi now a cornerstone of Fives’ High Precision Machines (HPM) division, the combined operations are expected to generate revenues in the region of 400-450 million euros, supported by a workforce of 1,900 employees worldwide. The HPM division, now operating through 24 entities — 11 in North America, seven in Europe, and six in Asia — will be able to offer customers enhanced proximity, responsiveness, and tailored support throughout the entire equipment lifecycle, from project design to installation and beyond.

The acquisition brings together two market-leading players, strengthening their ability to serve customers with innovative, reliable, and locally supported solutions. Customers in strategic industries will benefit from an expanded portfolio of high-precision machining solutions, including vertical lathes, gantry mills, large machining centres, and flexible manufacturing systems engineered by Pietro Carnaghi for complex, large-scale rotary parts used in mission-critical applications.

Advanced manufacturing solutions
With this extensive range of technologies, which now includes iconic names such as Giddings & Lewis, Cincinnati, Liné Machines, Landis, Bryant, and Pietro Carnaghi, Fives is reinforcing its capacity to deliver advanced manufacturing solutions that enable customers to tackle complex challenges with increased reliability and performance.

The integration of Pietro Carnaghi also strengthens Fives’ industrial setup, adding a ‘state of the art’ 45,000m² facility in Northern Italy that meets the highest global standards and enhances control over the supply chain.

Giuliano Radice, chairman at Pietro Carnaghi, said: “This transaction reinforces Pietro Carnaghi’s ability to maintain ongoing activities and honor existing contractual commitments, ensuring consistent and high-quality presence in the market.”

Frédéric Sanchez, president and CEO of Fives Group, concluded: “We are delighted to welcome Pietro Carnaghi; this acquisition perfectly illustrates our belief that by bringing together the most advanced expertise from around the world, we can meet the major challenges of energy transition and industrial performance, especially in the strategic sectors of aerospace, defence, energy and space.”