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Springville — Neways Enterprises has announced that Z Capital Partners, L.L.C. 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 CEO 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 strategy. We are committed to supporting the business globally and remain as dedicated as ever to expanding Neways around the world."
"This is an exciting transaction for all of us at Neways," said Robert Conlee, CEO 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."