Investment date
July 2019


A global company specializing in energetic materials.

Maxam’s origins date back to 1872, when Alfred Nobel founded Sociedad Española de Dinamita Privilegios A. Nobel in Bilbao, Spain. In 1896, the company merged with eight other companies, forming the Unión Española de Explosivos, S.A. (“UEE”). In 1994, Maxam’s management executed a management buy-out and acquired a 20% stake of UEE from its industrial owner ERCROS. Since that time, management has transformed the company from a Spanish domestic civil explosives producer to a diversified and fully globalized energetic materials leader, and UEE rebranded itself as Maxam in 2006.

Headquartered in Madrid, Spain, Maxam is a global leader in energetic materials, focusing on blasting solutions for quarrying, mining and infrastructure projects (the Civil Explosives business unit) and products and services for the defense industry (Expal, the Defense business unit). Maxam currently employs approximately 5,300 people and operates across six continents with revenue generated in over 100 countries.

Main Contact

José Manuel Vargas

Managing Director