Neways kept itself out of bankruptcy, but at what expense?
This will be an interesting one to watch. You can be sure that these private equity firms will be looking to get their money back and sometimes that can happen at the expense of the distributors associated with the company.
Let’s hope this is a step in the right direction for the company and it’s distributors.
SPRINGVILLE, Utah, Jan. 19, 2012 /PRNewswire via COMTEX/ — Neways Enterprises, a worldwide leader in dietary supplements and personal care products, announced today that it has completed a comprehensive out-of-court restructuring, allowing the company to significantly reduce its debt. As a result of the transaction, private equity firm Z Capital Partners, L.L.C. and funds affiliated with S.A.C. Capital Advisors, L.P. will in the aggregate own a majority of Neways. Golden Gate Capital will maintain an equity stake in the Company.
Things are brighter then ever at Neways!
Below are just a few of the exciting initiatives, among others, that you will see happening in the next 12 months:
•Introducing additional tools and online resources to help distributors explain our opportunity and business model (look for the new compensation plan video and vision video in the next two months)
•Introducing a number of new products
•Deploying “global seamless,” which will allow the unprecedented counting of Executive legs from all markets for bonus qualification
•Conducting exciting, motivational conventions, events, and 25-year celebrations
•Rolling out promotions for business builders and Healthy Home creators
•Launching our office in Thailand
•Working on a potential future market opening in China in the coming years
As you can tell, this is an exciting time for Neways as we pursue our goal of expanding and improving our services and business across the globe. We will do all of this while continuing to offer safe and effective products.