Sentinel Capital Partners, a private equity firm that invests in promising companies at the lower end of the middle market, today announced the acquisition of Quick Weight Loss Centers, a leading, multistate provider of highly differentiated weight loss management services.
Sentinel invested in the transaction with minority partner Skyline Global Partners LLC. Terms of the deal were not disclosed.
Through a combined 32 weight loss management clinics in Texas and Florida, QWLC offers a proprietary, retail-based weight loss program that teaches customers how to lose weight through nutritional programs that are augmented with significant one-on-one, in-person counseling and supplemental product sales. QWLC’s nutritional programs teach clients how to eat well-balanced diets without counting calories or eating pre-packed food, and high frequency, in-person counseling drives accountability and positive customer outcomes.
“QWLC is a leading wellness platform, addressing the nation’s growing obesity problem through differentiated weight loss programs that enable clients to achieve and maintain their weight loss goals,” said Jim Coady, a partner at Sentinel. “We look forward to working with QWLC’s talented executives as they build on their impressive record by expanding into new markets, continuing to generate strong financial performance, and pursuing attractive add-on acquisitions.”
“Sentinel has helped successful companies like QWLC strengthen their market leadership positions through sustainable growth initiatives,” said Lynn Allen, CEO of Quick Weight Loss Centers. “QWLC is in a unique position to capitalize on the high fragmentation in the weight loss industry and will benefit from the resources of partnering with a leading private equity firm. We are excited to partner with Sentinel as we continue to address our clients’ desires to lose weight and lead healthier lives.”
The past 12 months have been highly active for Sentinel. Besides Quick Weight Loss Centers,Sentinel has made five other new investments: Revenew International, a leading provider of cost recovery and cost containment services; The Luminaires Group, a leading North American manufacturer of specification-grade lighting products; Marketplace Events, a business services company that is the largest operator of consumer home and garden shows in North America; Driven Performance Brands, a manufacturer of high performance automotive aftermarket products for car and truck enthusiasts; and Fazoli’s Group, a franchisor and operator of Italian fast casual restaurants.
Sentinel also completed five successful exits in the past year: Hospice Advantage, a leading healthcare provider of end-of-life care to patients in their homes; IEP Technologies, an industrials business that is a global leader in industrial explosion protection; Northeast Dental Management, a leading regional dental care company; Spinrite, North America’s leading supplier of consumer yarn products for knitting enthusiasts; and Vintage Parts, a leader in supply chain and logistics services for slow-moving and inactive OEM parts.
About Sentinel Capital Partners
Sentinel Capital Partners specializes in buying and building businesses at the lower end of the middle market in the United States and Canada in partnership with management. Sentinel targets aerospace and defense, business services, consumer, distribution, food and restaurants, franchising, healthcare, and industrial businesses. Sentinel invests in management buyouts, recapitalizations, corporate divestitures, and going-private transactions of established businesses with EBITDA of up to $65 million. Sentinel also invests in special situations, including balance sheet restructurings and operational turnarounds. For more information about Sentinel, visit www.sentinelpartners.com.
About Quick Weight Loss Centers
Quick Weight Loss Centers owns and operates 32 weight loss management clinics in Texas and Florida. QWLC offers a proprietary, retail-based weight loss program that teaches customers how to lose weight through nutritional programs that are augmented with significant one-on-one, in-person counseling and supplemental product sales. QWLC has helped thousands of people achieve and maintain their goal weight through high frequency one-on-one counseling that drives accountability and positive customer outcomes. For more information about Quick Weight Loss Centers, visit www.quickweightlosscenter.com or www.quickweightloss.net.
