Private equity firm Z Capital Partners, L.L.C., and funds affiliated with S.A.C. Capital Advisors, L.P., are majority owners of Neways and assisted in the successful restructuring and recapitalization of Neways, which was announced on January 19, 2012.
James Zenni, President and CEO of Z Capital Partners, said: "Neways' Board of Directors appreciates this recognition for the successful execution of our restructuring and recapitalization, which enabled Neways to substantially reduce its debt while positioning the company to pursue significant growth opportunities. With this improved financial position, Neways can focus on achieving its goals of becoming an industry leader by creating 10 million Healthy Homes around the world."
Mark Gudis, Managing Director, S.A.C. Capital Advisors, L.P., said: "The Board of Directors is pleased that Neways has received this award as we begin an exciting new phase of our strategic plan. The Neways mission continues to resonate with hundreds of thousands of people in many parts of the world as we open new markets, introduce several products, and add substantial resources for our distributors."
The Turnaround Atlas Awards, hosted by the Global M&A Network, recognize outstanding performances in executing transactions, implementing turnaround strategies, and financial workouts completed in 2012. The award was presented at the Turnaround Atlas Award Gala and Dinner at the University Club of Chicago, in Chicago, Illinois.
