The private shareholders of Heaven Sent Naturals, Puri-Clean and Covert Labs have sold a 51.5% stake in the companies, to Red Oak Capital, a Texas-based investment company that has made a wide range of investments and focuses on profitable companies, for US$25.54 million.
Heaven Sent Naturals, Puri-Clean and Covert Labs are three related companies in the nutritional supplement industry. Their products are sold in numerous independent and health food chain stores across the USA. The shareholders had built the company from a start-up to its present size over a 15-year period and recognized the need for additional expertise to take the company through the next growth stage.
Oaklins' team in Dallas advised the seller in this transaction, which was structured to deliver cash proceeds of 66% at closing and the remaining 33% to be paid annually over the next 5 years.
Edward J. Dawson
© 2019 Oaklins. All rights reserved. Oaklins is the collective trade name of independent member firms affiliated with Oaklins International Inc. For details of the nature of affiliation, please refer to www.oaklins.com/legal.