Bavelloni SpA, a historical company in the field of glass processing machines, has signed an agreement for the acquisition of 100% of the shares of Glaston Tools Srl with Glaston Corporation, a Finnish company leader in the field of glass heat treatment technologies and listed on the Helsinki Stock Exchange.
Glaston Tools, based in Bregnano (CO), is specialized in the production and sale of tools for glass and natural stone processing. Glaston Tools Srl, already official supplier of tools for all Bavelloni machines, has a staff of 39 people and in 2017 achieved a turnover of about € 5 Mio.
The Company name has been changed to Bavelloni Tools Srl.
“The acquisition of Glaston Tools represents a milestone in the completion of Bavelloni’s product range,” says Roberto Califano, Marketing Director and Partner of Bavelloni Spa. “This is an important goal allowing us to return to offer our customers the complete machine-tool synergy in which the Bavelloni brand has always believed since the beginning of its activity.”
Glaston and Bavelloni will also continue their partnership in the tools business, through distribution agreements with the Glaston branches in Mexico, Singapore and Brazil.
For the legal and contractual aspects, Bavelloni Spa was assisted by NCTM Studio Legale.
Sequor Capital Management was the financial advisor for Glaston Corporation.