Multinational Company Acquires 52 Percent of Bavelloni Shares

Bavelloni SpA and GMM, which is controlled by the Consilium SGR private equity fund, signed an agreement giving GMM control of 52 percent of Bavelloni’s shares.

GMM is a multinational company based in Gravellona Toce, and supplies machinery for stone cutting, milling, and polishing.

GMM and Bavelloni Spa will create an industrial group with more than $100 million of turnover and about 10 million of EBITDA, with 400 employees, 6 production plants and 8 direct subsidiaries. The group will integrate their respective technologies in an annual production of over 800 machines that will consist of three main business units: stone with the GMM brand, glass with the Bavelloni brand and fabrication materials with the Techni Waterjet brand.

The product range of the two companies is fully complementary and does not overlap, which will allow them both to continue to develop all product families.

Bavelloni SpA partners, currently constituting the company board of directors, Federico Bassi, Roberto Califano and Sergio Valsecchi, retain 48 percent of Bavelloni shares and will continue to manage the company in continuity with what has been done so far.