Veritas Legal Advised Private Equity Firm Kedaara Capital on Acquisition in Majority Stake of Shareholding in Oliva Skin & Hair Clinic
Veritas Legal advised the Private Equity Firm Kedaara Capital Growth Fund III LLP on its acquisition in Sreyas Holistic Remedies Private Limited, under the brand name Oliva Skin and Hair Clinic, a dermatology chain, by way of primary and secondary acquisitions of majority stake of the shareholding of Oliva, for a total consideration of less than USD 100 million.
The Merger and Acquisition practice of Veritas Legal advised Kedaara Capital on the transaction. The Transaction team was led by Abhijit Joshi (Founding and Managing Partner of Veritas Legal), Somrita Chatterji (Partner) along with support from Anish Patel (Senior Associate), Anamika (Associate), and Sunil Neelakantan (Associate).
As part of the transaction, the legal team advised and acted on behalf of Kedaara in its primary and secondary investment in Oliva, and was involved in negotiating and drafting of the transaction documents and conducting due diligence.
In addition to its third investment in the market of single specialty healthcare, Kedaara strives to facilitate and support Oliva's growth as it works toward its vision of becoming India's most respected and leading chain of medico-aesthetic dermatology clinics. The transaction will also provide an exit to InvAscent, an early investor which invested in the company in 2014.
The transaction was announced on 13th March, 2023 and closed on 21st March, 2023.
Acuity Law acted as the legal advisor to Sreyas Holistic Remedies Private Limited, while Quillon Partners advised India Life Sciences Fund II, LLC (InvAscent).