Consilium's GMM bolts on Techni Waterjet

TWJ plans to bolster its growth outside its traditional markets of Australia, New Zealand and the US, and consolidate its position in the waterjet machines industry through GMM's sales network.

Consilium bought GMM in July 2016 via Consilium Private Equity Fund III, a €145m vehicle closed in December 2014. As part of the deal, the GP acquired a majority stake from the company's founders Giovanni Lagostina, Luigi Guazzoni and Corradino Franzi, who retained a minority holding in the business. GMM recorded a turnover of €45m in 2017, up 9% on 2016.

With this new acquisition, the GP plans to develop strong industrial and commercial synergies between the two companies and expects the group to reach revenues of €70m in 2018 and €100m by 2020.

Company
Founded in 1989 and based in Victoria, Australia, TWJ specialises in producing waterjet machines and developing waterjet cutting technologies for the automotive industry. The company employs 60 people and has facilities located in Australia, Thailand and the US. The business recorded revenues of around €18m in the fiscal year ending in June 2018.

People
Gravellona Macchine Marmo – Corrado Franzi (CEO, founder).
Techni Waterjet – Darren Reukers (managing director, founder).

Advisers
Acquirer – Lincoln International (M&A); Alpeggiani & Associati (legal); KPMG (financial due diligence).

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