MAXAM
The European Commision authorizes Advent International´s acquisition of MAXAM´s shares
2012.02.07
Press room - News - The European Commision authorizes Advent International´s acquisition of MAXAM´s shares
Today, the European Commission has authorized Advent International’s acquisition of MAXAM shares, ruling that the global private equity firm’s position as a company investor complies with the current European Union competition regulations.The Commission’s decision coincides with that of the Spanish Government’s Council of Ministers, which authorized the operation this past 11th of November, 2011. The global private equity firm now stands to become a financial investor with a 49.99% stake in the company, acquiring the shares previously held by private equity firms Portobello and Vista Capital. The transaction is expected to be formalized in the coming weeks.
The remaining 50.01% of the company will continue to be under the control of MAXAM’s management team, led by the group’s Chairman & CEO, José Fernando Sánchez-Junco.
MAXAM – www.maxam.net
MAXAM is a service and industrial group that operates on a global scale by developing, manufacturing and commercializing civil explosives and initiation systems for mining, quarries and infrastructures; cartridges, shotgun shells and smokeless powder for hunting and sports use; and products for the defense industry. Likewise, MAXAM is a supplier of key raw materials for nitro chemical activity, generated for the company’s own internal needs as well as for the commercialization to third parties. Finally, as a result of its drive towards innovative, sustainable development, MAXAM offers its clients a wide variety of solutions in the fields of safety and environmental conservation.
Founded by Alfred Nobel in 1872, MAXAM celebrates its 140th birthday in 2012 with a yearly turnover of approximately one billion euros and a presence in all of the major mining areas of the world, with production sites in over 40 countries, an active market presence in more than 100 others, and over 6000 employees spread across five continents.
MAXAM offers a complete range of products and services to the companies and markets where it operates and integrates high tech products of a superior quality and security with the most complete technical advice, contributing in this manner to the continuous improvement of the services given to its clients. The company’s vast international presence, respect for the environment, groundbreaking research and considerable philanthropic efforts demonstrate MAXAM’s status as a leading, active and committed company, engaged with the progress and development of the society and the environment that surrounds it.
The MAXAM Foundation is a non-profit entity that channels the patronage activities of MAXAM in the culture environment. Furthermore, it has as mission to organize, preserve and disseminate the historical legacy created by MAXAM since its foundation by Alfred Nobel in 1872 (especially the MAXAM painting Collection that began in 1899 and which each year illustrates the famous Explosives Calendars). The House of the Explosives in the Mining and Industrial Museum of Asturias www.mumi.es ) and the MAXAM Chair of the Explosives Technologies from the Higher School of Mining Engineers of the Polytechnic University of Madrid (UPM) are two more examples of the activities of the Foundation. For further information, visit /es/fundacion
About ADVENT INTERNATIONAL - www.adventinternational.com
Founded in 1984, Advent International is one of the world’s leading global buyout firms, with offices in 16countries on four continents. A driving force in international private equity for 27 years, Advent has built an unparalleled global platform of over 170 investment professionals across Western and Central Europe, North America, Latin America and Asia. The firm focuses on international buyouts, strategic repositioning opportunities and growth buyouts in five core sectors, working actively with management teams to drive revenue growth and earnings improvements in portfolio companies. Since inception, Advent has raised $26 billion in private equity capital and, through its buyout programs, has completed over 270 transactions valued at over $60 billion in 35 countries.
