PE Firms Swap Debt For Equity In Strapped Nutrition Co.

Law360, New York (January 19, 2012, 5:56 PM EST) -- New equity investments from Z Capital Partners LLC and SAC Capital Advisors LP have thrown a lifeline to a dietary supplements maker that defaulted on $250 million in loans last May, the company said Thursday.

Neways Enterprises Inc., a Utah-based manufacturer of nutritional products that was majority-owned by Golden Gate Capital Management LLC, emerges from an out-of-court restructuring that began last spring. 

The company's second-lien lenders – including Z Capital, SAC and Golden Gate – swapped their debt for equity in the company.

The moves reshuffled...
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