it | en |

Ughi and Nunziante with Consilium in the sale of GMM to Biesse

The Biesse Group, a Marche-based multinational specialising in technology for processing wood, glass, stone, plastic and metal, listed on the Euronext STAR Milan segment of the Italian Stock Exchange, has signed a contract for the acquisition of 100% of the shares of GMM Finance, the holding company at the head of the GMM Group, which includes, among others, the companies GMM S.p.A., Bavelloni S.p.A. and Techni Waterjet Ltd., as well as their respective Italian and foreign subsidiaries, which are active in the sectors of machine tools for processing stone, glass and other materials.
The GMM Group is established in 90 countries, operates six production plants in Italy and one in Thailand, and employs over 450 people. This is one of the most significant transactions in the history of the Biesse Group. The transaction is expected to close by 15 February 2024 and is subject to the fulfilment of certain conditions precedent in line with normal market practice for this type of transaction.

The selling shareholders are Consilium Private Equity Fund III (managed by Consilium SGR p.A.) with 75% and FGL Holding (of the founding shareholders) with 25%. The transaction, which is in line with Biesse’s strategic plan, aimed at growth also through external lines, will increase the portfolio generated by machinery for processing stone, glass and other materials by integrating the company’s technologies in these specific segments.

The Sellers were assisted in the legal aspects by Ughi e Nunziante with a team coordinated by partner Amon Airoldi, senior associates Deniz Kivage and Pietro Pastorello and trainee Francesco Antimiani, and by Russo De Rosa Associati with a team coordinated by associates Leo De Rosa and Alessandro Manias and comprising Niccolò Cappellini and Concetta Letizia Scimè for the tax profiles.