Nutraceutical maker OmniActive Health Technologies said that IIFL Asset Management Limited (IIFL) has acquired a minority stake in the company. The financial terms of the transaction were not disclosed.
The investment has been made through IIFL AMC’s Special Opportunities Fund series. Established in 2005, OmniActive offers a range of dietary supplements and fortification nutrients.
OmniActive works with leading human nutrition brands and manufacturers across the world to improve the health and well-being of consumers through a solution-oriented approach.
The company has R&D and manufacturing operations in Pune, Hosur, Hassan and Thane in India; and sales and distribution operations in the U.S., Europe, India, Asia, Australia and Latin America.
TA Associates, a leading global private equity firm had acquired a significant stake in the company in January 2021.
The Kennedy Company founded by physicist David Kennedy in 1976, who worked on developing innovative acoustic barriers for NASA.
“We intend to further strengthen the robust foundation created by
David Kennedy and his team with Trivitron’s global presence, infrastructure, and robust manufacturing," said Commenting on the acquisition, GSK Velu, chairman & managing director of Trivitron.
Post integration, the new entity would become a part of Trivitron Healthcare Americas, operating as Kennedy Vinyl for the existing x-ray shielding and acoustic noise control business and Kennedy Radiology for radiation protection products manufactured in the US.
The organization would be led by Mr. Sesh Sarathy, who spearheaded Trivitron Group's M&A efforts in North America, as president, sales and business development.
Trivitron has an active presence in over 180 countries along with R&D and manufacturing presence in India, US, Finland, Turkey, China and Austria. The company manufactures medical imaging, in-vitro diagnostics, radiation protection, newborn screening, critical care and cardio-respiratory Solutions. Trivitron operates 15 manufacturing facilities across the world.
Sourced from The Economic Times India - written by Viswanath Pilla