Springville’s Neways Inc. acquired by equity firm

by louabbott on November 8, 2006

November 8, 2006

Neways Inc., a Springville-based multilevel marketing company, announced Wednesday it has been acquired by Golden Gate Capital, a private equity firm based in San Francisco.

The sale closed Wednesday, according to James Watson, Neways’ vice president of human resources and organizational development. Financial terms were not disclosed.

Although it has new ownership, Neways will continue under the leadership of its current chief executive officer, Eric Larsen, the company said. Larsen joined Neways in 2004.

Watson said it was too early to comment specifically on whether there will be changes to staffing or operations as a result of the sale.

“For the most part, I’d say that it’s business as usual,” Watson said. “Could there be some slight changes? That I don’t know at this time.”

Read the entire article at Deseret News

Also, read our company overview:  Neways Facts, News and Review

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