Transaction

Clearwater advises Banook Group’s shareholders, Turenne Santé, and the management team, on the sale of a majority stake to Motion Equity Partners

Transaction

Turenne Sante and the managers of Banook Group sold a majority stake to Motion Equity Partners

Sell-side

Undisclosed

Role

Adviser to Banook’s shareholders on the sale of a majority stake to Motion Equity Partners

Sector

Healthcare

Region

France

Clearwater has advised the shareholders of Banook Group (Banook), a global provider of cardiac safety services, Turenne Santé, the healthcare-focused arm of French private equity firm Turenne Groupe, and the management team, on the sale of a majority stake to the mid-market private equity firm, Motion Equity Partners.

Founded in 1999 in Nancy, France, Banook has been a trusted partner for pharmaceutical laboratories, biotechnology companies, and Contract Research Organizations (CROs). It specialises in conducting clinical trials by centralising and analysing electrocardiograms (ECG) and medical imaging data, to evaluate the safety and efficacy of drug candidates. As a strategic partner, the group benefits from a network of renowned key opinion leaders and a clinical trial management system, Atrium, that ensures secured and automated data centralisation.

Banook has embarked on a strategic international expansion plan, first establishing a presence in Canada and then Germany, through the acquisition of the Munich-based enterprise Nabios in 2021. In 2022, the group further expanded by opening an office in Boston and strategically positioning multiple logistic hubs abroad, ensuring the swift provision of medical devices to efficiently support multi-site clinical trials.

With a workforce of 70, Banook is led by Alexandre Durand-Salmon and backed by a network of top-tier scientific and medical experts. Following a successful phase of development alongside Turenne Santé, the growth project required an international expansion strategy. It was decided to embark on a partnership with Motion Equity Partners, in which Turenne Santé reinvested in the business alongside the management team.

image 136

Clearwater had already advised us on the acquisition of Nabios in Germany, which is why we logically decided to renew our trust in Nicolas and his team, to find the partner capable of supporting us in our international development plan in North America, through an external growth strategy. Clearwater’s selection of potential buyers, daily support, and unwavering availability throughout all phases contributed to the success of this process, through which Motion Equity Partners emerged as the ideal partner to drive this new phase of ambitious growth.

Alexandre Durand Salmon, President, Banook Group
image 136

We have identified Banook as a very high-performing company operating in a dynamic and appealing market. We quickly developed a strong belief in the management team’s ability to lead an ambitious development project, with a strong commitment to leverage the potential of external growth, and to make Banook a global market leader. Backed by our extensive experience in the healthcare sector and proven track-record in supporting international growth initiatives, we are well-prepared to provide Banook and its team with the resources required to realise their ambitions.

Cédric Rays and Anthony Baudoin, Partners, Motion Equity Partners

We are delighted to have been supported by the Clearwater team throughout this operation. Thanks to its extensive network in Europe and the US, Clearwater was able to enhance the group's visibility and facilitate its first international external growth acquisition. We extend our gratitude to the Clearwater team for their exceptional responsiveness and professionalism throughout this process. Banook still holds significant growth potential within its niche market, and as such, we are pleased to reinvest alongside Motion Equity Partners to continue the next chapter of this journey.

Paul Chamoulaud, Partner, Turenne Santé

We are very proud to have once again advised Alexandre, the Banook Group’s team, and Turenne Santé in this pivotal phase of the group’s journey. Over the past few years, the group has laid strong foundations for international expansion, and the entry of Motion Equity Partners as the majority shareholder will expedite the realisation of this ambitious plan. With this new transaction in the CRO sector, Clearwater further solidifies its position as a leading advisory team in this segment.

Nicolas Saint-Pierre, Managing Partner, Clearwater

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