GMM Acquires 52% of Bavelloni shares

BGMM acquires majority of Bavelloni
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Date: 9 February 2022

The two companies create one of the largest groups in the processing of stone materials and glass worldwide, exceeding 100 million in turnover.

Founded in 1993, GMM is born from the business idea of three engineers and starts its activity designing and manufacturing bridge saws for the stone industry. In the last 5 years, it has carried out an important growth project having increased, at consolidated level, from 36 million to 70 million euros in 2021, 85% of which is generated abroad. The growth has been achieved both organically and through external lines, with the acquisition in 2018 of Techni Waterjet (TWJ).

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 with a strong international vocation. The group will integrate their respective technologies in an annual production of over 800 machines that will consist of 3 main business units: Stone with the GMM brand, Glass with the Bavelloni brand and Fabrication Materials with the Techni Waterjet brand.

For Bavelloni SpA, this operation represents a unique opportunity to continue the strategic development plan started in 2015, which allowed the Company to grow by 75% in terms of consolidated turnover, to expand its sales network through 3 owned subsidiaries abroad, and to integrate the tools business into its product range.

The partnership with GMM, in fact, opens a new opportunity for Bavelloni SpA to develop the Stone business, in the machinery and tooling segments. On the other hand, the product range of the two companies is fully complementary and without any overlap, which will allow them both to continue to develop all product families.

The affinity between the two companies, specialized in the design and construction of machinery, in many ways similar, will allow them to enjoy advantages from the point of view of engineering and manufacturing, being able to strengthen important synergies from the point of view of know-how, components purchase and production processes.

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

600450 GMM Acquires 52% of Bavelloni shares

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