- Ropes & Gray LLP served as legal counsel to Audax while Quarles & Brady LLP did likewise for Medi-Weightloss
- Audax targets North American middle-market companies
- Medi-Weightloss has approximately 100 franchised and company-owned locations across 27 states
Audax Private Equity has acquired Tampa-based Medi-Weightloss Inc, an operator of weight-loss and wellness clinics. Buzz Franchise Brands is co-investing alongside Audax as a minority-stake partner. No financial terms were disclosed.
“Medi-Weightloss represents a prototypical deal for our Origins strategy, which builds on Audax’ historic focus in the lower middle market,” added Keith Palumbo, managing director at Audax Private Equity, in a statement. “In addition to strategic initiatives focused on enhancing Medi-Weightloss’ current patient outcomes and unit performance, we see a compelling opportunity to expand the Company’s geographic footprint through new franchise growth and acquisitions that will expand access to care for an underserved and growing patient population.”
Kroll Securities LLC served as financial advisor to the sellers. Ropes & Gray LLP served as legal counsel to Audax and Quarles & Brady LLP did likewise for Medi-Weightloss.
Audax Group has raised over $32 billion in capital across its private equity and private debt businesses. Audax targets North American middle-market companies.
Medi-Weightloss has approximately 100 franchised and company-owned locations across 27 states.
