Funds affiliated to Rhône Capital are to acquire Advent International’s 45 per cent interest in the share capital of MAXAM, with the company’s shareholder group, led by Chairman and CEO José F Sánchez-Junco, continuing to hold the remaining 55 per cent of shares.
The value of the transaction has not been disclosed and is subject to customary regulatory approvals.
MAXAM’s origins date back to 1872, when Alfred Nobel founded Sociedad Española de Dinamita Privilegios A Nobel in Bilbao. Over recent years, the company has evolved from a Spanish manufacturer of explosives towards a global technology leader, which specialises in energetic materials. Today, MAXAM has with over 6,500 employees, subsidiaries in more than 50 countries and generates sales in over 100 countries. This transformation – based on targeted international expansion and the development of a best in class technology platform – has been accompanied by continuous profitable growth.
Advent, which acquired its stake in MAXAM in February 2012, has actively contributed to the strategy crafted by the MAXAM management team, enabling the company to fulfil its domestic and international growth ambitions by expanding and strengthening its footprint in key markets, through organic growth.
Alantra is acting as financial advisor to MAXAM, Lazard Frères is acting as financial advisor to Rhône, and Morgan Stanley is acting as financial advisor to Advent. Pérez-Llorca and Kirkland & Ellis are serving as legal advisors to Rhône and Uría Menéndez is serving as legal advisor to Advent.