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