Buzz Franchise Brands Partners on New Investment Alongside Leading Private Equity Firm
Buzz will lend franchising expertise to support investment in Medi-Weightloss
VIRGINIA BEACH, Va., Dec. 1, 2022 /PRNewswire-PRWeb/ -- Buzz Franchise Brands ("Buzz"), a leading multi-brand franchising company, announced today that the company has partnered with leading private equity firm Audax Private Equity ("Audax") on a passive investment in Medi-Weightloss®, a nationally recognized weight-loss franchise committed to fighting obesity and changing lives.
Headquartered in Tampa, Florida, Medi-Weightloss® operates approximately 100 locations across 27 states. Backed by a team of medical professionals working to create quality weight-loss products and services, Medi-Weightloss® stands out within the healthcare franchise segment, providing physician-supervised, individualized weight-loss plans backed by scientific research and clinical efficacy.
"Buzz has always had a great relationship with Audax, so we're excited to partner on this investment to drive the growth of Medi-Weightloss®," said Kevin Wilson, CEO of Buzz Franchise Brands. "Medi operates in the $10 billion market for weight loss, and we see tremendous potential for advancing the brand through the resources and expertise of our team. Medi-Weightloss® aligns with our company mission and values by using evidence-based methods to help people achieve a positive lifestyle change."
Buzz has a track record of incubating and acquiring service brands within the franchising space. The company transformed outdoor pest-control brand Mosquito Joe from a local business to a powerhouse franchise brand with over 350 locations sold in less than 6 years. Buzz currently operates four brands including Pool Scouts, a pool-cleaning franchise, Home Clean Heroes, a residential house-cleaning franchise, British Swim School, a swim-instruction franchise, and the recently launched holiday-lighting franchise, Grand Illuminations.
"We have always worked hard to provide value to our investors," added Wilson, who was a Senior Managing Director at Envest Ventures prior to joining Buzz Brands as CEO in 2012. "Investing in Medi-Weightloss® is one more way we can leverage the strength of our team and utilize our franchising experience and expertise in a new way to do that."
This is the first investment of this type for Buzz, but Wilson indicated Buzz is open to similar opportunities in the future, while continuing to grow the company by adding new brands through incubation or acquisition strategies.
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About Buzz Franchise Brands
Founded in 2012, Buzz Franchise Brands is a multi-brand franchising company that builds brands that get people talking. The company is the founding franchisor of Mosquito Joe, with a current brand portfolio that includes the Pool Scouts pool cleaning franchise, the Home Clean Heroes residential cleaning franchise, the British Swim School swim instruction franchise, and the recently launched holiday lighting franchise, Grand Illuminations. The company has been recognized by various prominent media outlets as a fast-growing company and top place to work. For more information, visit Buzz Franchise Brands website: buzzfranchisebrands.com or follow us on LinkedIn.
About Audax Private Equity
Audax Group is a leading alternative investment manager with offices in Boston, New York, San Francisco and London. Since its founding in 1999, the firm has raised over $32 billion in capital across its Private Equity and Private Debt businesses. Audax Private Equity has invested over $9 billion in more than 150 platforms and over 1,100 add-on companies, and is currently investing in add-ons out of its $3.5 billion, sixth private equity fund. Through its disciplined Buy & Build approach, Audax seeks to help platform companies execute add-on acquisitions that fuel revenue growth, optimize operations, and significantly increase equity value. With more than 360 employees and over 150 investment professionals, the firm is a leading capital partner for North American middle market companies. For more information, visit the Audax Private Equity website: http://www.audaxprivateequity.com or follow us on LinkedIn.
About Medi-Weightloss®
Established in 2005, Medi-Weightloss® offers a physician-supervised weight loss program known as The One That Works®! Physicians and medical professionals provide individualized care based on each patient's goals, current health status and medical history. The program includes weekly consultations that focus on nutrition, lifestyle, and exercise. Patients learn how to keep weight off through a specialized Wellness Phase. In addition to weight loss programs for adults – that have resulted in patients losing more than seven million pounds so far – Medi-Weightloss also offers specialized weight loss protocols to address the unique needs of adolescents and people with different health challenges, including metabolic syndrome and diabetes. Visit http://www.mediweightloss.com for more information. Find details about franchise opportunities at http://www.mediweightlossfranchising.com.
Media Contact
Julie Green, Mainland, 3125263996, [email protected]
SOURCE Buzz Franchise Brands
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