Partnership Expands Customer Options for Equipment Lifecycle Management
Fives Machining Systems, Inc. (FMSI), part of the High Precision Machines Division of Fives and OEM for the Cincinnati and Giddings & Lewis machine tool brands, recently announced the Fives Prestige Equipment partnership with Prestige Equipment Corp., a leading provider of industrial asset disposition and used machinery solutions.
Building on Fives’ longstanding expertise in new machine solutions, OEM-backed parts and service, equipment modernization, and full lifecycle support, the Fives Prestige Equipment partnership expands customer options by adding access to high-quality used equipment, global resale channels, and professional asset recovery solutions.
Under the agreement, Prestige Equipment will support Fives customers with:
- Strategic surplus machinery sales and full asset disposition programs
- Trade-in options to offset new machine investments
- Certified equipment appraisals and valuations
- Access to global used-equipment markets
Fives will continue supporting Prestige Equipment customers with:
- OEM-backed maintenance, parts, and technical service
- Retrofit and rebuild solutions
- New machine tools and turnkey production systems
- Preventive maintenance and machine health assessments
- Equipment relocation services
Together, the combined offering helps manufacturers better coordinate equipment disposition, modernization, and capital investment planning—creating smoother transitions between surplus asset recovery and upgraded production capabilities. Prestige customers also gain access to Fives’ OEM engineering expertise, global service network, and high-precision machine technologies.
“Our customers are focused on maximizing uptime, extending asset life, and making smart capital investment decisions,” said Wolfgang Neitzke, Business Development at Fives. “Fives has always supported manufacturers across the full lifecycle of their equipment. This partnership expands the options available for managing and monetizing surplus assets while aligning recovery strategies with broader production and investment plans.”
“This partnership expands the options available to manufacturers navigating equipment lifecycle decisions,” said Adam Herman, Vice President of Business Development at Prestige Equipment. “By aligning Prestige’s asset recovery expertise with Fives’ OEM capabilities, customers gain a more coordinated approach to modernization and capital planning.”
The collaboration is especially beneficial for manufacturers undergoing expansions, consolidations, or technology upgrades, where coordinated planning between new equipment, modernization efforts, and surplus asset recovery can reduce downtime and improve capital efficiency.
The relationship reflects Fives’ commitment to providing integrated, end-to-end solutions that improve productivity, optimize capital utilization, and support sustainable manufacturing operations worldwide.
About Fives
As an industrial engineering group with more than 200 years of heritage, Fives designs and supplies machines, process equipment and production lines for the world’s largest industrial players in sectors such as steel, aerospace and special machining, aluminum, automotive and manufacturing industries, cement, energy, logistics and glass. Through strong R&D programs, Fives develops forward-thinking solutions that anticipate industrial needs in profitability, performance, quality, safety and environmental responsibility.
About the High Precision Machines Division
Fives’ High Precision Machines division specializes in the design and supply of complete manufacturing solutions featuring technologies for machining, turning, milling, composite lamination, grinding, as well as cutting tools and abrasive wheels. The division serves numerous markets including energy, defense, aerospace, automotive, space, railways, electric vehicles and naval. It also offers a broad range of services to support customers throughout the lifecycle of their installations. The division employs more than 1,600 people at approximately 25 sites across North America (USA, Canada, Mexico), Europe (France, Italy, UK, Germany) and Asia (Japan, Korea, China).
About Prestige Equipment Corp.
Prestige Equipment Corp. is a global provider of used industrial machinery, asset disposition services, plant liquidations and online industrial auctions. Prestige Auctions, its industrial liquidation division, offers turnkey solutions including online and webcast auctions, private treaty sales and customized asset management programs. Founded in 1990, Prestige specializes in CNC machining, fabrication and metalworking equipment, helping manufacturers maximize asset value for surplus equipment and quickly source production-ready machinery worldwide.
