According to the group, the intention is to further develop the press manufacturer and "go public with it in several years". The MAN Group will retain a 35% share in the joint venture.

"This step means a new era," said MAN Roland chief executive Gerd Finkbeiner. "It will strengthen our position as an independent global solutions provider and increase our options.

"Continuity in the management, corporate structure and MAN Roland brand names will ensure that the company retains its credibility and reliability for customers and employees."

Allianz Capital Partners chairman Thomas Ptter added: "We want to support the company in this important phase of its development and use our expertise as a private equity investor."

The press giant's distribution network covers 120 offices and sales partners worldwide.

MAN Roland GB managing director Malcolm Pendlebury said: "For us it's business as usual. We do not anticipate that our customers will see any change whatsoever in either the service that we provide or the presses that we sell."

The firm has a global workforce of 8,800. In 2005 it posted operating profits of 44.8m (65m) on sales of 1.2bn.