Maxam

Category: Industrial

Investment Term: 1993 – 2000

Sold to: Caisse des Dépôt y Bank Boston

Unión Española de Explosivos S.A. (currently Maxam) faced a severe crisis in 1993. Its shareholder, ERCROS, which was undergoing insolvency proceedings, had put all its group companies up for sale. In 1994, through a complex transaction, Pallas Invest acquired 80% of UEE.

The investment unfolded in two phases: an initial restructuring phase, lasting three years, followed by a consolidation and international expansion phase, which also lasted three years.

UEE had four business units:

During the six years of the investment, UEE evolved from conducting 90% of its activities within Spain to more than 75% being carried out internationally, with industrial activities not only in Spain but also in Argentina, South Africa, Bolivia, Mauritius, Ghana, Australia, the United States, and Canada, among others.