Everstone Group, an India and Southeast Asia focused private equity and real estate investment firm, has invested $35 million in Mumbai-based OmniActive Health Technologies to further accelerate its growth in the fast-expanding nutraceuticals space. The deal is Everstone’s third in the healthcare and wellness sector in less than a year.
OmniActive is a leading supplier of naturally sourced ingredients for eye health, weight management and heart health to global nutraceutical companies that provide food supplements and nutritional fortification. OmniActive has a research-driven approach, state-of-the-art manufacturing facilities, well-equipped R&D centres across India and Canada, and sales and marketing presence across the US, Europe and Asia.
The Everstone investment — which gives it a significant minority stake — will help OmniActive diversify and expand its offerings. OmniActive will use the proceeds from this deal in its inorganic growth strategy and execute the acquisition opportunities it has identified. Avendus Capital was advising OmniActive on this deal as the investment banker.
“With the support of its experienced teams and funding, OmniActive looks forward to building on our history of solid organic growth by further strengthening our presence globally using innovative products and technologies,” OmniActive Health Technologies MD Sanjaya Mariwala said.
Published 02 January 2017, 19:40 IST