Consilium buys majority stake in GMM

As part of the deal, the GP acquired the majority stake from the company's founders Giovanni Lagostina, Luigi Guazzoni and Corradino Franzi, who will retain a minority stake in the business. Corradino Franzi will remain the company's CEO.

According to a statement, the company aims to use the capital injection to expand its business across China and India, as well as pursue a consolidation plan through several strategic acquisitions.

Company
Founded in 1993 and headquartered in Gravellona Toce, GMM produces and distributes industrial machinery for cutting marble, granite and travertine.

The company has three production plants in Italy and two branches in the US and Hong Kong, and posted a turnover of €38m in 2015. According to the company's figures, it generated 90% of its revenues exporting its products outside Italy.

People
Consilium – Stefano Iamoni (chair, CEO).
Gravellona Macchine Marmo – Giovanni Lagostina, Luigi Guazzoni, Corradino Franzi (co-founders).

Advisers
Equity – Studio Alpeggiani & Associati (legal); KPMG (commercial due diligence); Goetz & Partners (financial due diligence); Studio Russo De Rosa (tax).
Company – Finint Corporate Advisors (corporate finance); Studio Commerciale Ciana (tax); Pirola Pennuto Zei & Associati (legal).

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• Topics
• Buyouts
• Industrials
• Southern Europe
• Italy
• Consilium