Abac Solutions Acquire Bacelona-based Medical Dietary Treatments Expert PronoKal Group
Private equity fund Abac Solutions (SCA) SICAR (“Abac”) and PronoKal Group®’s management team have acquired 100% of the company from its founders, in order to support its expansion process in Europe and Latin America.
PronoKal Group® is a global leader in protein-based dietary treatments for obesity and overweight, with sales in excess of €42 million and presence in 15 countries in Europe and Latin America.
The Barcelona-based company was founded in 2004 to provide effective weight loss treatments. The company’s offering includes nutritional products, medical supervision, personalized dietary advice, personal training and coaching services, as well as materials to facilitate weight loss maintenance. In Spain, which accounts for 49% of sales, the company has a patient base of over 300,000 people and more than 2,500 prescribing doctors. PronoKal Group® is also present in the United Kingdom, Belgium, the Netherlands, Mexico, Argentina, Peru and Brazil, among other markets.
The investment by Abac and the management team aims to increase the group’s presence in Europe and Latin America, where obesity is an increasingly widespread disease. PronoKal Group®, which will continue to be led by its current management team, will continue research for the development of new treatments and the improvement of the current ones. The company is also planning 9 new openings over the next 5 years in countries such as Colombia, Chile or Italy, with the aim of doubling its revenue base. Abac’s investment will also strengthen the leadership team with new specialists in the fields of medicine, dietetics and management.
Oriol Pinya, founding partner at Abac Capital, said he was “very excited about this new transaction. We are confident that we can support the management team in accelerating the company’s growth through its international expansion, as well as continuing to move towards an increased professionalization.”
Dr. Joan Fondevila, PronoKal Group®’s CEO and one of the co-investors in the deal, has stated that he is “totally convinced that the new stage we are starting with Abac will be crucial to accelerate the company’s growth, as well as to invest in new and better treatments that consolidate our leadership in the industry.”
PronoKal Group® is Abac’s third investment, following the acquisition of Grupo Metalcaucho and Figueras International Seating. The transaction is a good example of the financial and operational support carried out by the fund, which invests up to €50 million per transaction to support solid companies that can benefit from a new local shareholder with a global vision, providing industry and management expertise.
Abac Solutions Manager, S.à.r.l., 14 Rue Edward Steichen, L-2540 Luxembourg Luxembourg, registered with the Luxembourg Trade and Companies Register (R.C.S. Luxembourg) under number B187258.
For the transaction, Abac was advised by KPMG (financial), EY (legal) and Antares Consulting (business). PronoKal Group® was advised by PwC and M&A Fusiones y Adquisiciones (financial), as well as Crowe Horwath (legal).
About PronoKal Group:
PronoKal Group® is a multinational company specialised in medical weight-loss treatments using the Protein Diet. The group has extensive experience in the sector and is present in 15 countries in Europe and America.
The primary aim of the PronoKal Group® is to offer tools for the treatment and prevention of overweight and
The various medical treatments used by the PronoKal Group® for weight loss and long-term weight-loss maintenance based on the Protein Diet are adapted to different patient profiles:
The PronoKal® Method is designed for overweight and obese patients, and is followed under medical supervision. It is a method in which the patient recieves support from dietitian, physical activity trainers and coaching experts throughout the entire program, the goal of which is to help the patient to lose weight and to maintain it in the long term. This is achieved through a change in dietary habits, physical activity and patient lifestyle, with the ongoing support of our multidisciplinary team and a monitoring period once the patient has reached their weight-loss goal.
The DiaproKal® Method is specifically aimed at overweight patients with type 2 diabetes (T2DM), or prediabetics, i.e patients who suffer from diabesity, and it is followed under medical supervision. The DiaproKal® Method is followed under the supervision of a team of dietitian-nutritionists specialised in diabetes, physical activity technicians and coaching professionals.
We define our medical weight-loss treatments as “methods”, as they comprise a complete programme which includes various professionals and which follows a specific methodology through a series of phases. The ultimate goal of this methodology is weight loss and long-term maintenance of the results, as well as to help the patient modify their habits and adopt a new, healthier lifestyle. All of our methods include products and services specifically aimed at addressing the needs of various pathologies patients may suffer, and are adapted to the particular characteristics of each country.
Source Abac Solutions’ press release