Turenne backs Banook MBO

Mariia Bondarenko
11 March 2020

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Turenne Sante has acquired a majority stake in Banook, a French research organisation specialised in cardiac safety, central imaging and endpoint adjudication.

The GP is backing a first round of investing for Banook's management team, including Alexandre Durand-Salmon, Yasmin Khan and Stéphane Papelier, as well as founder Pascal Voiriot. Euro Capital and ILP also participated.

Turenne is deploying capital from its Capital Sante 2 fund. The vehicle held a first close on €100m in March 2019. It is targeting €130-150m for a second close by the end of June. The fund looks to acquire stakes and provide growth capital to 10-15 French SMEs in the healthcare sector.

Mezzanine debt for the investment was provided by Idinvest.

Company
Founded in 1999 and headquartered in Nancy, Banook is a research organisation supplying cardiac safety, central imaging and endpoint adjudication services to pharmaceutical, medical device and biotechnology companies. It employs 26 people, according to LinkedIn.

People
Turenne Sante – Benoît Pastour (CEO); Paul Chamoulaud (associate director).
Banook Group – Alexandre Durand-Salmon (CEO); Pascal Voiriot (founder).

Advisers
Equity – Next, Hervé Krissi, Laura Guerrin (financial due diligence); Cepton, Marc-Olivier Bévierre, Marine Mousseaux
(commercial due diligence); Lamartine Conseil, Gary Lévy, Raphaël Saulneron, Solange Ducos, Maeva Suire, Emilie Renaud, Diane Dubail, Charlotte Moreau, Patricia Volpe (legal).
Company – Adviso Partners, Guillaume Capelle, Elisa Valdes, Baptiste Hoppenot (corporate finance); Fidal, Didier Millot, Brice Voillequin, Loïc Toilier (legal); KPMG, Antoine Bernabeu, Joseph Aouad, Anne-Mariama Sanou (financial due diligence).
Management – Acta Finance, Jean-Denis Cornillot, Jacques-Henry Piot (corporate finance); Juriact, Frédéric Ferry (legal).