Mumbai, India— Everstone Group has invested $35 million in a stake of Mumbai-based OmniActive Health Technologies Ltd. Everstone Group has been rapidly expanding in the nutraceutical space and its investment in OmniActive will give it a significant minority stake. Through the Everstone Group investment, OmniActive will have the ability to expand and diversify.

Sanjaya Mariwala, Managing Director, OmniActive Health Technologies Ltd. said in a press release, “We welcome this partnership with the Everstone Group. With the support of its experienced teams and funding, OmniActive looks forward to building on our history of solid organic growth by further strengthening our presence globally using innovative products and technologies.”

The Everstone investment, which gives it a significant minority stake, will help OmniActive in diversifying and expanding its offerings. The firm will use the transaction proceeds from this deal for its inorganic growth strategy and execute the acquisition opportunities it has identified.

Samair Sain, Co-Founder and Managing Partner, Everstone Group, said, “This investment aims at helping OmniActive scale its already strong presence in the fast-growing nutraceutical space. We are excited about partnering with the Mariwala family and building a world class global business.”

This is Everstone’s fifth investment from its third PE fund (Everstone Capital Partners III) that closed in September last year. It is also the third in the pharmaceutical and wellness sector. Everstone previously acquired a majority stake in Rubicon Research, a pioneering drug delivery technology company, this October that was preceded by Everstone taking a majority stake in Ascent Health, an Indian pharmaceutical delivery services provider, in March.