As result of this new important acquisition, GMM becomes one of the world’s largest groups in the processing of stone and glass materials with a consolidated turnover in excess of 100 million euros
GMM, a mid-sized multinational based in Gravellona Toce (VB), a world’s leading stone machine manufacturer for cutting, milling and polishing stone materials, takes over the majority stake of Bavelloni, a long-established company based in Lentate sul Seveso
(MB) producing machinery and tools for flat glass processing.
The acquisition of Bavelloni contributes the growth of the GMM Group size which thus achieves a turnover of over 100 million euros and about 10 million EBITDA, giving rise to one of the world’s leading players in stone and glass processing machinery.
After being taken over by its management in 2015, Bavelloni carried out an important development plan abroad with the opening of three own subsidiaries in USA, Mexico and Brazil, integrating the production of diamond tools to the historical machinery business. Thanks to the expansion plan, the company achieved revenues of €35 million in 2021, mainly abroad.
GMM is controlled by Consilium, through the Consilium Private Equity Fund III, with which it has carried out an important growth project doubling its turnover in 5 years at a consolidated level to €70 million in 2021, 85% of which is abroad. Forecasts for 2022 are extremely positive, as the current order book is at its highest level ever. GMM’s growth took place both organically and through external lines with the acquisition in 2018 of the Australian company Techni Waterjet (TWJ), specialized in waterjet cutting machines. GMM’s high cash generation enabled the Group to end 2021 with a positive financial position of €6 million.
“The union of these two companies and their technological excellence,” explains Marco Rampichini, CEO of the GMM Group, “will create an industrial Group with a turnover of over 100 million euros and about €10 million EBITDA, with 400 employees, 7 production plants and 8 direct subsidiaries with a strong international vocation. The Group will integrate its respective technologies into an annual production of over 800 machines that will be divided into three main business units: Stone with the GMM brand, Glass with the Bavelloni brand and Fabrication Materials with the Techni Waterjet brand.”
“The acquisition of Bavelloni,” says Corrado Franzi, founder and executive director of the GMM Group – is going to allow for product development and will leverage important commercial synergies, creating one of the world’s leading players in stone and glass processing machinery. These two applications fields are becoming increasingly close and integrated as result of the continuous evolution of materials, both in the interior design applications and in the external coverings for the building industry field. The forecasts for the GMM Group are extremely positive thanks to an order portafolio that is at the highest level in its history.”
Sergio Valsecchi, Board President of Bavelloni adds “The two companies are a point of reference in their respective industries for the quality, reliability and technology of their machinery all designed for Industry 4.0. Together GMM and Bavelloni create an extremely dynamic Group, with territorial coverage able to offer the best after-sales service in all geographies. The industry of diamond tools for glass processing has seen significant growth in recent years. This operation is an opportunity for further development in the stone market for Bavelloni: the management will continue the growth process that has allowed it to achieve important , including the opening of 3 foreign subsidiaries, the expansion of the product range and the increase in turnover, which has grown by 75% in the last 6 years.”
