NEWPORT BEACH, Calif., Feb. 17, 2015 /PRNewswire/ -- Solis Capital Partners (Solis), a lower middle-market private equity firm, today announced that it has partnered with Innovate Partners (Innovate), an operationally oriented venture capital firm, to acquire an equity interest in Lindora, a leading, proven provider of medically supervised weight loss and weight management programs.
Founded by Dr. Marshall Stamper in 1971, Lindora has more than 40 years of success providing comprehensive and personalized medical weight loss and weight maintenance programs to clients across North America. Its success is accomplished through its online programs and clinic locations across California using a combination of medically guided diet, moderate exercise and coaching.
"Lindora has a longstanding track record of using its proven, medically supervised, weight loss and weight management program to help people lose weight and live healthier and happier lives," said Daniel Lubeck, Managing Director of Solis. "We are excited to partner with Bob Allison and his firm, Innovate Partners, and the Lindora management team with Cynthia Stamper Graff, to bring the Lindora service and products to more people that can benefit from what they do."
"Solis and Innovate are valuable strategic and financial partners," says Cynthia Stamper Graff, CEO of Lindora, "We are excited to have their insight, knowledge and support as we expand Lindora's product and service offering. It is an exciting time in our industry, and for Lindora, as the government, insurance companies, employers and individuals now recognize the importance of health and wellness for lowering health care costs, increasing productivity and helping people live better lives."
"As one of the nation's recognized leaders in medically supervised weight loss, the opportunity Lindora has to bring its services and products to more people is greater than ever before," said Bob Allison, Managing Director of Innovate. "The program is well known, its effectiveness is documented, and the regulatory and industry tail winds are stronger than ever before. We are very excited about this partnering and this opportunity."
Lindora is headquartered in Costa Mesa, California, and is the fifth investment in Solis II, and the fourth investment in Innovate Partners Emerging Growth and Equity Fund I.
Solis Capital Partners is a private equity firm specializing in the lower middle-market. Headquartered in Newport Beach, CA, Solis invests in companies with revenues of $15 to $100 million, typically in the service, niche manufacturing, and software sectors. The firm is actively investing through Solis Capital Partners II. For additional information, see www.soliscapital.com.
Innovate Partners is an operationally oriented venture capital fund that makes equity and equity-related investments in companies that are active in the technology, business services and consumer products sectors, with a strategy currently focused on consumer technology and big data. For more information, see www.innovatepartnersllc.com.
Lindora is a leading provider of personalized medically supervised weight loss and weight management programs in North America. Lindora has more than 40 years success in providing a comprehensive weight management program that combines diet, moderate exercise and coaching delivered online and in clinic locations throughout California. For additional information see www.lindora.com.
SOURCE Solis Capital Partners