Sentinel acquires Quick Weight Loss Centers


Adds to Firm’s Broad Multiunit Consumer Portfolio


NEW YORK, August 23, 2016 – 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 health and wellness company that provides 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 centers in Texas and Florida, Quick Weight Loss 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. Quick Weight Loss’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.

"Quick Weight Loss 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 Quick Weight Loss’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 Quick Weight Loss strengthen their market leadership positions through sustainable growth initiatives," said Lynn Allen, CEO of Quick Weight Loss Centers. "Quick Weight Loss 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 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.