Everstone invests Rs 238 cr in nutritional ingredients' supplier OmniActive

Private equity investor Everstone Group on Monday said it has invested about Rs 238 crore ($35 million) for a minority stake in Mumbai-based OmniActive Health Technologies, a manufacturer of nutritional ingredients to the health care, food, and personal care industries.

Deep Mishra, a managing director at Everstone India, will join the board of OmniActive, which is looking at using the funds to acquire smaller firms and expand its presence in Asia and Europe, the company said in a statement.

Founded in 2005, OmniActive has manufacturing facilities and R&D centres across India and Canada and currently supplies nutraceuticals to US market.

OmniActive is Everstone's third investment in the healthcare space since it took majority stakes in Ascent Health in March and drug delivery technology firm Rubicon Research in October 2016.