On 31.01.2022, the agreement was signed between GMM, a company controlled by the private equity fund of Consilium SGR, and Bavelloni SpA, through which GMM acquires 52% of the shares of Bavelloni SpA. In this way, the two companies they created one of the largest groups in the world in the processing of stone materials and glass, exceeding 100 million in turnover.
GMM is a multinational company based in Gravellona Toce (VB), leader in machinery for cutting, milling and polishing stone materials.
Founded in 1993, GMM was born from the entrepreneurial idea of three engineers and started its business by designing and manufacturing bridge saws for the stone industry. GMM continues its evolution to become a world leader in the production of traditional and numerically controlled, subsequently producing systems for flat and vertical polishingicale (edge polishers) thanks to the acquisition of Cemar (2009), then a reference company in the sector, and then integrating its product range through the acquisition of the Australian Techni Waterjet, specialized in waterjet cutting machines with innovative technology patented in the metal, composite, stone and glass sectors.
In the last 5 years, it has implemented an important growth project having gone, at a consolidated level, from 36 million to 70 million euros in 2021, of which 85% abroad. Growth was achieved both organically and externally, with the 2018 acquisition of Techni Waterjet (TWJ).
GMM and Bavelloni will create an industrial group with over 100 million in turnover and around 10 million in EBITDA, with 400 employees, 6 production plants and 8 direct branches with a very strong international vocation. The Group will integrate the respective technologies in an annual production of over 800 machines, which will be divided into the 3 main business units of Stone with the GMM brand, Glass with the Bavelloni brand and Fabrication Materials under the Techni Waterjet brand.
For Bavelloni SpA, the operation represents a unique opportunityica to continue the strategic development plan started in 2015, which has allowed the company to grow by 75% in consolidated turnover, to expand the commercial network through 3 owned branches abroad and to integrate the tools business into its own product range.
The partnership with GMM opens up, in fact, a new opportunity for Bavelloni to develop the stone sector, both in terms of the machine and tool segments. On the other hand, the product range of the two companies is absolutely complementary and without any overlap, which will allow both to continue to expand all product families.
The affinity between the two companies, specialized in the design and construction of machine tools which are similar in many ways, will allow both to enjoy design and construction advantages and to consolidate important synergies from the point of view of know-how, component purchases and of production processes.
The partners of Bavelloni SpA, currently constituting the company's Board of Directors, Federico Bassi, Roberto Califano and Sergio Valsecchi, maintain 48% of the Bavelloni shares and will continue to manage the company in continuity with what has been done to date.
GMM was assisted by Lincoln International as advisor for the operation, by the Ughi e Nunziante firm for the contractual aspects, by KPMG for the accounting due diligence and by Russo De Rosa & Associati for the tax and legal ones.
Bavelloni shareholders were assisted by Studio Advant Nctm.
