Axel Johnson International enters the Italian distribution and industrial services market by acquiring a majority stake in Gmm Group.
Swedish group Axel Johnson International has finalised the acquisition of a majority stake in Gmm Group, a leading distributor of mechanical components for the ceramic industry based in Fiorano Modenese. The deal will enable the Scandinavian giant to enter the Italian distribution and industrial services market.
Founded in 1973 by Attilio Milani, the Gmm Group rapidly established itself as a leading distributor of mechanical components for the Italian and international ceramic industry.
Driven by the enthusiasm and vision of the second generation of the family led by Silvia and Luca Milani, over the years the group has also expanded into the field of specialised maintenance services through a process of strategic vertical diversification. In 2016 it acquired Bbm Industrial Maintenance and opened Gmm USA in Clarksville, Tennessee, then in 2020 the group was further expanded with the acquisition of E. Malaguti, a company specialising in the reconditioning of electromechanical components. Gmm Group now has around 50 employees and expects to post a turnover of more than €20 million this year.
CEO Luca Milani retains a substantial minority share and under the terms of the agreement stays on at the helm of the group.
“We’re thrilled to be joining Axel Johnson International and the Power Transmission Solutions group,” he said. “Being part of a large international group will enable us to further strengthen our position and provide customers with an even wider range of industrial solutions and services, allowing us to develop and accelerate our commercial and international growth plans in a rapidly changing global market.”