FFG Acquires Pfiffner Group
The deal is being met with optimism by Hydromat, Pfiffner’s partner in the Americas.
The Fair Friend Group (FFG) signed an agreement April 20 with the Pfiffner Group (Utzenstorf, Switzerland) to acquire all shares of the Pfiffner companies. This deal adds high-precision, high-volume machining to FFG’s Machine Tool division.
Hydromat (St. Louis, Missouri), a partner of Pfiffner, has praised the deal: “[Pfiffner] should be a very strong enterprise moving forward. Jimmy Chu [FFG president and CEO] and FFG have a reputation for investing in and building great machine tool companies, not dismantling them,” says Matthias Walter, Hydromat’s executive vice president and CSO. The agreements between Hydromat and the Pfiffner Group will not change.
Kevin Meehan, Hydromat’s executive vice president and COO, adds, “This development will solidify [Pfiffner’s] position as the leader in the CNC rotary transfer segment, and our customers are sure to benefit from future technological developments driven by a stronger Pfiffner.”