Z Capital Partners has acquired a minority ownership stake in Neways from S.A.C. Capital Advisors. No financial terms were disclosed. As a result of this transaction, Z Capital is now a majority shareholder of Neways. Headquartered in Springville, Utah, Neways is a provider of personal care, household and health and wellness products.
SPRINGVILLE, Utah, July 12, 2013 /PRNewswire/ — Neways Enterprises (“Neways” or the “Company”), a worldwide leader in healthy and effective personal care, household, and health & wellness products, today announced that Z Capital Partners, L.L.C. (“Z Capital”) has acquired the minority ownership stake of Neways from funds associated with S.A.C. Capital Advisors. As a result of this transaction, Z Capital is now the majority controlling shareholder of Neways.
“We are excited to complete this acquisition and become the majority shareholder of Neways,” said James J. Zenni, President and Chief Executive Officer of Z Capital. “Since Robert Conlee was appointed as CEO, Neways has improved global operations and is successfully executing a new member led Direct to Consumer (DTC) strategy. We are committed to supporting the business globally and remain as dedicated as ever to expanding Neways around the world. On behalf of the entire Board, I look forward to continuing to work with Robert and the rest of the talented Neways leadership team to expand new markets, introduce new products, and propel the Company’s path of growth and success.”
“This is an exciting transaction for all of us at Neways,” said Robert Conlee, Chief Executive Officer of Neways. “Z Capital has been a dedicated partner since their initial investment in the Company. Z Capital is a seasoned financial sponsor committed to the Company’s vision and long-term growth. With Z Capital’s support, we are building and executing comprehensive growth plans for each of our global markets, while continuing to deliver the best possible products and business opportunities for our distributor community.”
Founded in 1987, Neways is dedicated to helping families transform their homes into Healthy Homes. With a wide range of safe and effective personal care, household, and health & wellness products that are free of unsafe ingredients, the Company strives to make the world a healthier place, one home at a time. Neways operates in and serves loyal customers in 30 countries. For more information, please visit www.neways.com.