Private equity firm Apax Partners is investing in weight-loss services provider Ideal Protein. Company founders Tran Tien Chanh and Olivier Benloulou will keep a significant stake in the company.
Ideal Protein, based in Gatineau, Quebec, provides services such as nutritional needs and counseling for people who are trying to diet. The company is partnered with more than 3,000 physicians and other medical professionals in North America.
“As we continue to expand our clinic partnerships, enter new markets and work to help more individuals achieve their weight-loss goals, Apax’s resources and deep knowledge of health care services will be instrumental,” says Benloulou.
Jefferies LLC, PricewaterhouseCoopers Corporate Finance LLC, McCarthy Terault LLP and Duane Morris LLP are advising Ideal Protein.
Kirkland & Ellis LLP, Epstein Becker & Green PC, Blake Cassels & Graydon LLP and BMO Capital Markets are Apax’s advisers.
In another recent related deal, Hearthside Food Solutions is buying VSI, which makes private-label weight control, fitness and snack bars.