Fives, Prestige Equipment partnership expands customer options for equipment life cycle management

Source | Fives Machinery Systems

Fives Machining Systems Inc. (Hebron, Ky., U.S.), part of the High Precision Machines Division of Fives and OEM for the Cincinnati and Giddings & Lewis machine tool brands — which include metal and composites cutting systems — has formed a strategic partnership with Prestige Equipment Corp. (Melville, N.Y., U.S.), a 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 life cycle support, the partnership expands customer options by adding access to high-quality used equipment, global resale channels and professional asset recovery solutions.

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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.

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,” says Wolfgang Neitzke, business development at Fives. “Fives has always supported manufacturers across the full life cycle 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.”

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.