Maxam was founded in 2006, although its origins date to 1872, the year in which Alfred Nobel founded the Sociedad Española de Dinamita Privilegios A. Nobel in Bilbao. Afterwards it merged with other important Spanish producers of explosive products to create the Unión Española de Explosivos, which after various restructuring processes and name changes, became Maxam.
The international venture capital firm Advent International has reached an agreement for the acquisition of shares representing 49.998% of Maxam’s capital, which up to now was in the hands of Vista Capital and Portobello Capital. 50.002% of the company’s capital remains in the hands of the management team, represented by its president, José F. Sánchez-Junco. The transaction is subject to the approval of the corresponding authorities since it is a case of a regulated sector of activity. The amount of the transaction has not been revealed.
Maxam is the leader in Europe, and one of the three most important companies in the world in the civil explosives and initiation systems sector. The company also develops, produces and sells blasting services for quarries, mines and public works throughout the world; cartridges and gunpowder for hunting for sporting use; products and services for the defense industry, especially the secure deactivation of military explosives. The group is made up of more than 140 companies, with more than 6,000 employees throughout the world, installations in more than 40 companies and sales in more than 100 countries on five continents.