On January 31, GMM, an Italy-based provider of cutting, edge polishing and water-jet machinery, acquired 52% of Bavelloni SpA shares. Now the two companies create one of the largest groups processing stone materials and glass worldwide, exceeding 100 million in turnover, according to a press release.

GMM and Bavelloni SpA will create an industrial group with about 10 million EBITDA, 400 employees, six production plants and eight direct subsidiaries. The group will integrate their respective technologies in the 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 partnership with GMM allows Bavelloni SpA to develop the stone business in the machinery and tooling segments. The product range of the two companies is entirely complementary, according to the press release.

Bavelloni SpA partners and members of the board of directors, Federico Bassi, Roberto Califano and Sergio Valsecchi, retain 48% of Bavelloni shares and will continue to manage the company.