Everstone Group acquires stake in OmniActive Health Technologies Ltd

Mumbai, January 02, 2017 – The Everstone Group has invested US$ 35 million in Mumbai-based OmniActive Health Technologies Ltd (OmniActive) 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.

In the last 18 months, innovation-driven OmniActive completed 12 human clinical trials in healthy populations across its portfolio of branded ingredients. The company has a strong presence in the US and is working to achieve similar success in 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.

Sameer Sain, Co-Founder and Managing Partner, Everstone Group, said: “This investment will help OmniActive scale its already strong presence in the fast-growing nutraceutical space. We are excited about partnering with the Mariwala family and building a world-class global business.” OmniActive was founded in 2005 and has, over the last decade, emerged as the leading nutraceutical ingredient supplier to international markets from India, helped by the gradual shift in the sector towards consumption of natural products.

Sanjaya Mariwala, Managing Director, OmniActive Health Technologies Ltd. said: “We welcome this partnership with the Everstone Group. 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.

This will be done by also growing inorganically to bring a wider product portfolio of responsibly made ingredients to our customers through our strategic acquisitions,” Mariwala added.

The global nutraceuticals supplements market was estimated at US $108 billion in 2014 and is expected to touch US $168 billion by 2020. The US is the largest market, accounting for slightly more than one-third of global sales. In India, according to a study published by ASSOCHAM, the nutraceuticals industry is expected to reach US $6.1 billion by 2020. The growth in India will be fuelled by rising awareness about lifestyle diseases and the need for healthier lifestyles; the spread of urbanisation; an increasing middle-class population with a higher disposable income; and the rising demand for supplementary nutrition for a healthier life.

Avendus Capital was advising OmniActive on this deal as the investment banker.

The OmniActive investment will be Everstone’s fifth from its third PE fund (Everstone Capital Partners III) that closed in September 2015, and the third in the pharmaceutical and wellness sector. It acquired a majority stake in Rubicon Research, a pioneering drug delivery technology company, in October 2016, which was preceded by Everstone taking a majority stake in Ascent Health, an Indian pharmaceutical delivery services provider, in March 2016.

Everstone will be represented by Deep Mishra, Managing Director, who will join OmniActive’s board as a nominee director, along with Dr Leendert Staal, an internationally reputed nutraceutical expert who was the CEO of the global industry leader DSM Nutritional Products from 2008 to 2013.

About Everstone Group
The Everstone Group is a premier India and Southeast Asia focused private equity and real estate investment firm with assets under management of US $3.3 billion. Everstone has over 200 people working across six offices—Singapore, Mumbai, Delhi, Bengaluru, Mauritius and London. The firm’s strong presence and network in India and Southeast Asia allows its existing and new portfolio businesses to build operations in the region and beyond. Everstone has been awarded ‘Private Equity Firm of the Year in India’ by Private Equity International for five consecutive years from 2011 to 2015.
For more information, visit www.everstonecapital.com

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About OmniActive Health Technologies Ltd.
OmniActive Health Technologies (www.omniactives.com) offers a range of quality ingredients, that are innovative and scientifically validated to address complex challenges for customers in the dietary supplement, food and beverage space using technology-driven, sustainable solutions with application support within a global regulatory framework. OmniActive’s core products include carotenoids, plant extracts and specialty functional ingredients. The company develops IP-protected, science-backed branded ingredients from natural sources using cutting edge technologies. OmniActive leverages international R&D strengths to deploy an array of state of the art manufacturing technologies in extraction, purification, isolation and delivery of nutritional actives. Clinical research–geared towards demonstrating efficacy and claim substantiation–is the cornerstone of OmniActive’s R&D activities. The company’s centers of excellence are located in North America and India, whereas its cGMP and HACCP system-compliant manufacturing operations are located at multiple FDA inspected sites in India. Whether looking for a new ingredient to add to a finished product, or technology to enhance an existing ingredient, OmniActive delivers unmatched innovation.
For more information, visit https://omniactives.com/

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Everstone Group partner P M Devaiah enters General Counsel Legal Powerlist

Mumbai, December 07, 2016 – P M Devaiah, Partner and General Counsel, Everstone Group, has been selected to The Legal 500 GC Powerlist for India, the only person from a private equity firm to make the prestigious honour roll of legal experts, Everstone announced today.

The Legal 500 GC Powerlist for India 2016 is the inaugural one for the country and recognises corporate General Counsels for their outstanding work. The GC Powerlist series from The Legal 500 (based in London) highlights the most influential in-house lawyers in business. The series has covered regions and countries including the UK, the US, France, Italy, Switzerland, Germany, the Middle East, and the Nordics.

Devaiah has more than 25 years of corporate and legal experience, having worked at some of India’s largest and most successful companies, including Tata Projects, Hindustan Unilever, BPL Group, Carlyle Group, and ICICI Venture.

He joined the Everstone Group in 2007, and several key features of his tenure include transforming its legal department into an ‘in-house law firm’, training his team to be ‘completely business like’, and positioning the unit to become a strategic and integral part of the company to deliver high-quality services, as well as add-value to business teams. Devaiah holds a Bachelor of Commerce degree and a Master of Law degree from the University of Mysore.

Congratulating Devaiah on this achievement, Sameer Sain, Co-Founder & Managing Partner of the Everstone Group, said: “We are extremely proud of Devaiah for not only being selected to this prestigious list but also for being the sole representative from the private equity sector.

This honour rightly recognizes the great work he has done in helping make the Everstone Group a successful organization with the highest standards of corporate governance and ethics,” Sain added.

For his part, Devaiah said: “It’s an honour to be included in The Legal 500 GC Powerlist. The role of General Counsel has changed significantly in recent years. General Counsels are no longer limited to a reactive role but instead are key members of the corporate decision-making team, as is the case in Everstone.”

The Legal 500 finds the “best of the best” by canvassing opinions from law firm partners and in-house counsel across India, to identify corporate counsel that have been instrumental in changing or forming opinions within their company or industry.

About Everstone Group
The Everstone Group is a premier India and Southeast Asia focused private equity and real estate investment firm with assets under management of USD $3.3 billion. Everstone has around 200 people working in six offices—Singapore, Mumbai, Delhi, Bengaluru, Mauritius and London. The firm’s strong presence and network in India and Southeast Asia allows its existing and new portfolio businesses to build operations in the region and beyond. Everstone has been awarded ‘Private Equity Firm of the Year in India’ by Private
Equity International for five consecutive years from 2011 to 2015.

For more information, visit www.everstonecapital.com

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Investors put $1.3 bn in enterprise tech & $11 bn in consumer products

Two old investor favourites — consumer products and enterprise technology — are expected to emerge as sectors of choice for venture capital and private equity in 2017, as they seek to back safe sectors that can assure them good returns.

Read more at: https://economictimes.indiatimes.com/small-biz/money/investors-put-1-3-bn-in-enterprise-tech-11-bn-in-consumer-products/articleshow/55846173.cms

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Investors push for platform deals

Investors in the private equity (PE) space — from the big Canadian pension funds to home grown funds such as Everstone or IDFC Alternatives — are opting to buy or build platforms to have more say on the outcome of their investments. And, as buyouts rise, platforms are gaining ground.

Read more at: https://www.business-standard.com/article/specials/investors-push-for-platform-deals-116111700060_1.html

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Everstone acquires majority stake in Rubicon Research

Mumbai, October 24, 2016– The Everstone Group has bought a 70% stake in Mumbai-based Rubicon Research Pvt. Ltd., a pioneering drug delivery technology company in India, for a total outlay of Rs 220 crore (US$ 33 million).

Along with a US$ 20 million investment directly into the business, the deal includes acquiring stakes from Kotak Private Equity and a private investor.

Rubicon is a world-class outsourcing partner to the global pharmaceutical industry and its proprietary technologies provide solutions for bioavailability enhancement, gastric retention, taste masking, and customising the release profiles of drugs. Rubicon also offers lifecycle management services for pharmaceutical products.

Rubicon also has a US FDA-approved manufacturing plant at Ambernath in Maharashtra, with a capacity of 800 million tablets and it has refocused its business on creating its own Abbreviated New Drug Applications (ANDAs)/New Drug Applications (NDAs) for the global market.

“Rubicon has an excellent record of providing cutting-edge solutions to the healthcare and pharmaceutical industry,” said Sameer Sain, Co-Founder and Managing Partner of the Everstone Group. “We are excited about enhancing its capabilities,” Sameer added.

Rubicon Founder and CEO Dr. Pratibha Pilgaonkar said: “We welcome this partnership with Everstone and believe, with their deep managerial and operational expertise, capital infusion, and global connectivity, we will be able to significantly accelerate our growth.”

This investment will be fourth investment from Everstone’s latest PE fund (Everstone Capital Partners III) and was led by Deep Mishra, an Everstone MD who focuses on consumer and pharmaceutical investments for the Group. Deep will be joining the board of directors of Rubicon.

About Everstone Group
The Everstone Group is a premier India and Southeast Asia focused private equity and real estate investment firm with assets under management of USD $3.3 billion. Headquartered in Singapore, Everstone has around 200 people working across five offices—Singapore, Mumbai, Delhi, Bengaluru, and Mauritius. Everstone has been awarded ‘Private Equity Firm of the Year in India’ by Private Equity International for five consecutive years.
For more information, visit www.everstonecapital.com

About Rubicon
Rubicon Research is a pioneer Drug Delivery Technology company in India and is recognized as a world class outsourcing partner in pharmaceutical industry. Rubicon’s proprietary technologies provide solutions for bioavailability enhancement, gastric retention, taste masking, and customising the release profiles. Rubicon has a US FDA-approved manufacturing plant and is bringing complex generics into the regulated markets of US and Europe.

For more information, visit https://www.rubicon.co.in/

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