BV Investment Partners has acquired Precision Nutrition (PN), a Toronto based nutrition certification and coaching software and services provider. Financial terms were not disclosed.
John Berardi and Phil Caravaggio, Precision Nutrition co-founders, will maintain a significant interest. PV Investment Partners’ Mike Ricciardelli, Justin Harrison, Justin Garrison and Scott Veazey will serve on PN board.
Boston based BV Investment Partners is a middle-market private equity firm focused on the business services, software and IT services sectors. BV Investment Partners is currently investing its US $750 million ninth fund.
Founded in 2005, Precision Nutrition is the market leader in providing nutrition coaching certifications and software to fitness and wellness professionals throughout North America, Australia, and parts of Europe. PN’s Certification and ProCoach product lines have educated and supported more than 45,000 health and nutrition coaches. Precision Nutrition Coaching and ProCoach have served nearly 100,000 clients since the company’s founding.
Tim Jones, CEO of PN, said, “Today’s growing at-risk population, which includes 150 million adults who are overweight or obese in the US alone, is saddled with impractical and ineffective nutrition and lifestyle advice coupled with steeply rising costs for doctor visits and prescription meds. Our unique three-pronged business model — research-driven curricula, proprietary coaching method, and innovative technology — allows us to meet the demand for an affordable platform that delivers proven solutions, using behavioral change to improve their health and lives in an unprecedented, sustainable way. We’re thrilled to have found a like-minded financial partner in BV, and believe that the sky is the limit for the next chapter of Precision Nutrition.”
Mike Ricciardelli, Managing Director of BV, said, “Precision Nutrition is the market leader and authority in the world of nutrition training and certification for fitness professionals. This is an opportunity for BV to invest in a fast-growing and differentiated business serving a large and growing end market in partnership with a high quality founder and executive team. The Company is already growing very quickly yet, by implementing the business plan we have built together with the management team, we believe we can build on and add to the great things that PN has already accomplished. This includes further penetrating the fitness professional end market, expanding into additional end market segments, and further investing in the ProCoach online content and business software platform.”
photo credit: Precision Nutrition