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ADVENT INTERNATIONAL ACQUIRES MAXAM’S 49.9% AND EXITS PORTOBELLO AND VISTA.
The international private equity firm Advent International has confirmed the acquisition of 49.999% of the manufacturer of blasting for mining and infrastructure Maxam, and exit the private equity firms Portobello Capital and Vista Capital. The remaining 50.01% stake will continue in hands of its management team, led by its president and CEO, José Fernando Sánchez-Junco. The transaction’s amount has not been revealed.
The deal’s details were announced in September 2011 and it only remained to obtain the relevant European regulatory approvals and from the Council of Ministers (see news).
From Advent were pleased to contribute with its expertise in specialty chemicals to boost Maxam in its new phase.
Maxam, which in 2012 celebrates 140 years of its founding by Alfred Nobel, has a turnover of around €1,000 million annually, of which 85% comes from international markets. Today, the company has production facilities in over forty countries and over 6,000 employees.