We are pleased to announce the sale of the business of About Health Supplements Limited (“About Health”) to New Zealand Listed Company, Just Life Group (“JLG”). The transaction is unconditional today and settles next Friday, 30 April 2021.
Oriens Capital Private Equity Fund LP (“the Fund”) invested in About Health in partnership with the founder of the business Daniel King, in February 2019. Oriens acquired a controlling shareholding of 70%, with Daniel King retaining 30% in the business.
Under Oriens Capital’s ownership, About Health undertook several initiatives to develop the business and market opportunity, including:
• Recruitment of a CEO and the transitioning of the founder from an executive role;
• Establishment of a formal governance structure and implementation of accounting systems and business reporting processes;
• Completion of a full rebranding of the business and improved sustainability of product packaging;
• The launch of a new website with subscription model and multiple payment solutions;
• The launch of two new products to the market – LifeMax NR and FlamaSolve Plus.
In late 2020, About Health received an unsolicited approach for the sale of the business from JLG. The decision to accept the offer was based on About Health’s assessment of the opportunities and risks which exist for the business; balanced with the consideration offered, and quality and positioning of JLG to support the continued growth of About Health’s business into the future.
Just Life Group was founded over 30 years ago by its CEO, Tony Falkenstein. JLG has two areas of strategic focus in healthy living and healthy homes. It operates a portfolio of brands with the Solatube and Unovent as champions of healthy homes and now About Health joins the iconic Just Water brand in healthy living. As an NZX listed entity, JLG can offer New Zealanders the opportunity to be part of the About Health future.
Oriens Capital would like to acknowledge the management team for their professionalism and efforts throughout our ownership period, and also the founder of the business, Daniel King, for his ongoing input and strategic insight as a director.