U.S. private equity firm BV Investment Partners (BV) has acquired a majority stake in Precision Nutrition Inc (PN), a Toronto-based nutrition certification and coaching software and services provider. No financial terms were released for the deal, which will see John Berardi and Phil Caravaggio, PN’s co-founders, retain a significant interest. BV’s Mike Ricciardelli, Justin Harrison, Justin Garrison and Scott Veazey will serve on the board. PN has served nearly 100,000 clients since its inception in 2005. BV said it will help the company further penetrate the fitness professional end market and expand into additional end market segments, and invest in its platform.
BV Investment Partners Announces Strategic Investment in Precision Nutrition
First Investment in Fund IX Enables Professional Nutrition Coaches to Improve Clients’ Nutrition and Health
BOSTON, Dec. 4, 2017 /PRNewswire/ — BV Investment Partners (“BV”), a middle-market private equity firm focused on the business services, software and IT services sectors, today announced a strategic investment in Precision Nutrition (PN), the leading nutrition certification and coaching software and services provider in North America.
Headquartered in Toronto, Precision Nutrition was co-founded in 2005 by John Berardi and Phil Caravaggio. The Company is the market leader in providing nutrition coaching certifications and software to fitness and wellness professionals throughout North America, Australia, and parts of Europe. Through a unique combination of three distinct but related business lines of nutrition coaching, nutrition coaching certification, and PN’s ProCoach nutrition coaching SaaS platform, PN enables health and wellness professionals to provide life-changing nutrition coaching services to clients.
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.”
BV will own a majority of PN and the Company’s co-founders will maintain a significant interest. Mike Ricciardelli, Justin Harrison, Justin Garrison and Scott Veazey will serve on the Company’s Board.
About Precision Nutrition
Founded in 2005, PN began as a proprietary, scalable nutrition coaching program, Precision Nutrition Coaching. In 2010, the company launched the Precision Nutrition Certification, enabling health and wellness professionals to use PN’s proven coaching methods with their own clients. In 2016, PN launched ProCoach, a SaaS platform that provides nutrition and health coaches with an automated digital solution for delivering comprehensive behavior-change curricula and managing client data.
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.
About BV Investment Partners
BV Investment Partners is currently investing its ninth private equity fund. The firm is one of the oldest and most experienced sector-focused private equity firms in North America. Since its founding in 1983, the firm has invested over $3 billion in more than 92 companies, actively targeting investments in the business services and information technology services industries. For more information, please visit www.bvlp.com.
Contact: Chris Tofalli
Chris Tofalli Public Relations, LLC
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