Supported by Motion Equity Partners, Banook Group deploys growth strategy with acquisitions of Keosys and B.Research

11 June 2024

Banook Group becomes European leader in technological services for clinical trials and strengthens its activities and global footprint, in central imaging and eCOA (electronic Clinical Outcome Assessment)

Banook Group, global provider of technology and services for clinical trial operators, today announces two strategic acquisitions that enhance its offerings in central imaging and eCOA. Currently a European leader in cardiac safety, Banook brings onboard Keosys, a specialist in central imaging, and B.Research, an eCOA platform based in Australia, to strengthen the Group’s offering and footprint. Financial terms were not disclosed.

Founded in Nancy in 1999, Banook Groupe has been supported since November 2023 by the private equity fund Motion Equity Partners to accelerate its external growth strategy. The Group’s ambition is to become a world leader in technological services for clinical trials, by offering a comprehensive range of services to its clients. Six months after the entry of Motion Equity Partners as majority shareholder, the Group has secured two strategic acquisitions.

By acquiring Keosys and B.Research, the Banook Group becomes a leading technological service provider of clinical trials, with close to 120 employees worldwide and a direct presence in Europe (France, Germany, UK, Italy), North America (USA, Canada) and Asia-Pacific (Australia). The Group is now a key partner for world-renowned pharmaceutical laboratories, biotechnology companies and Contract Research Organizations (CROs).

“With the acquisition of Nabios in Germany in 2021 we secured our leading position in cardiac safety in Europe. We are now strengthening our central imaging activity with Keosys and expanding our offerings with eCOA through B.Research. These acquisitions also enable us to reach a critical size. To continue responding to our client demands, we are focused on accelerating our international development, particularly in the United States, and diversifying our offers. Our priority is to offer excellent and comprehensive service while continuing our innovation efforts to support the health of tomorrow.” said Alexandre Durand-Salmon, CEO of Banook Group.

Based in Nantes since 2001, Keosys is a key player in central imaging with a specialization in oncology. The company is one of the main partners for biotechs and pharmaceutical laboratories assessing the efficacy of drug-candidates. Keosys centralizes and analyses medical images (CT scans, X-rays, PET scans, MRIs, etc.), using its proprietary Clinical Trial Management System (CTMS), Imagys. The company also has an office in New York (representing more than 30% of its activity) and was, until now, owned by the New York family office JMC Investment. All 40 employees, including the management team, will join this new growth project.

“This alliance with Banook was an obvious choice. We are two complementary players with international ambitions operating in the clinical trials market. Together, we can respond to a larger number of client requests and mutualize our efforts to develop our activities in North America. We are delighted to embark on a new stage of our development alongside the Banook team,” stated Arthur Painvin, CEO of Keosys.

Simultaneously, the Group has expanded its service range with the acquisition of B.Research, an eCOA platform based in Australia, acquired from Alira Health.

eCOA is a key service offering in clinical trials, with growing demand worldwide. The B.Research platform is extremely comprehensive, offering all eCOA services within a modern, intuitive interface. The technology enables the digitalization of clinical data generated by patients. The collected data is usually qualitative information to assess the impact of the drug-candidate on the patient beyond vital functions. It provides Banook with a new dedicated software platform to meet the growing demand from its clients. With the majority of its staff in Sydney (Australia), the acquisition of B.Research will also enable Banook to develop a commercial team dedicated to the Asia-Pacific region.

“Our ambition for Banook Group is to create a world leader in technological services for clinical trials, through a strategy of external growth that we have been implementing since our entry. We are proud to support Banook Group’s transformation with these two strategic acquisitions. The Group is changing scale and is well positioned to accelerate its international development, particularly in the United States” said Cédric Rays and Anthony Baudoin, Partners at Motion Equity Partners.

About Keosys
Founded in 2001 and based in Nantes, France, Keosys is a specialist in the centralization of medical images to assess drug efficacy in international clinical trials, from phase I to IV. Keosys covers a wide range of imaging categories (including echocardiography, radiography, CT, PET scan and MRI) and therapeutic areas, with specific expertise in oncology. Keosys’ activities are based on a proprietary CTMS and central imaging platform, Imagys, which combines a data management/centralization tool and an image visualization system. Headed by Arthur Painvin since 2020 and with 40 employees, the company is a key partner for pharmaceutical and biotech companies.

About B.Research
B.Research is a platform offering eCOA/ePRO services to support patients in clinical trials. B.Research’s technology is based on a software with functionalities enabling sponsors or CROs to distribute eCOA/ePRO surveys to patients based on the symptoms they wish to monitor. The B.Research platform offers all eCOA services, from ePRO to eConsent, as well as a platform to capture data from wearable devices (connected watches, wristbands, etc.).

About Banook Group
Founded in Nancy in 1999, Banook is a cardiac safety central provider specialized in the centralization of cardiac data derived from electrocardiograms (ECG) and central imaging within clinical trials. Banook relies on a network of renowned Key Opinion Leaders and a CTMS (Atrium) that ensures secured and automated data centralization. Banook serves as a key partner for pharmaceutical laboratories, biotechnology companies and generalist Contract Research Organizations (CROs) in conducting their clinical trials. While historically based in Nancy, Banook has gradually expanded internationally, with a presence in Canada and Germany following the acquisition of the Munich-based company Nabios Gmbh in 2021 and the opening of an office in Boston in 2022. The team of approximately 70 professionals is led by Alexandre Durand-Salmon.

Creation of a European leader in D2C sales with the merger of two complementary brands Atlasformen and Françoise Saget

31 May 2024

Atlas For Men, a D2C platform specializing in outdoor clothing for men, has finalized the acquisition of the French leader in direct-to-consumer home linen, Françoise Saget. This new entity, known as Atlas Group, is now one of the leading European players in the Direct-to-Consumer sales market.

Founded in 1999 within Editions Atlas, Atlas For Men designs and distributes casual-outdoor clothing and accessories through direct marketing and e-commerce, targeting the affordable price segment. Atlas For Men’s unique selling proposition lies in its D2C model (direct to consumer), which operates without physical stores and offers products both offline (catalogs) and online (e-commerce and social media). Today, the group stands out as a key player in its market, thanks to a robust business model and undeniable operational excellence that is replicable internationally. In recent years, the group has successfully expanded organically into over 14 countries in Europe and North America.

With the support of its majority shareholder, Motion Equity Partners, Atlas For Men is entering a new phase in its development by completing its first external growth operation with the acquisition of Françoise Saget.

Françoise Saget is a D2C sales platform specializing in home linen. The brand enjoys strong recognition in France and offers timeless basics and essential home products at affordable prices, in a market position similar to that of Atlas For Men. Like Atlas For Men, Françoise Saget’s products are mainly sold online (accounting for about 40% of orders) and through catalogues.

These two iconic brands share a common DNA and a similar market approach, based on a well-honed marketing strategy focused on recruiting and retaining their complementary customer bases.
The newly formed Group reaches €350 million in revenue. With the support of Motion Equity Partners, Atlas Group aims to continue its acceleration in France as well as internationally.

“The alliance with Françoise Saget is a historical step in the development of Atlas For Men. The combined group will benefit from an extensive commercial and marketing strike force in Europe, a deep digital know-how and major commercial and operational synergies. This is a unique opportunity to build a European data driven leader in distance selling by joining two legacy brands, that share a common historical DNA.” has stated Marc Delamarre, President of Atlas Group.

Motion EP supports the first employee shareholding plan of Tournaire Group

31 May 2024

Following its ambitious ESG policy, Motion EP supported the Tournaire Group in its first employee shareholding plan, a unique opportunity for all workforce members to become Group shareholders.

This operation, initiated by Group President Vincent Monziols, employee representatives and Motion EP, aims to unite all Group employees around a common corporate project and to share future value creation.

A significant success

As part of this campaign, Tournaire offered all its employees working in France – more than 250 people in all – the opportunity to become shareholders of the Group. A singular commitment rewarded by strong employee support, as 76% of employees chose to become Group shareholders.

The proposed mechanism takes the form of a Fonds Commun de Placement d’Entreprise (FCPE) and offers preferred subscription conditions to all employees, including a substantial matching contribution from the Group.

A win-win system

Through this approach, employees are fully involved in the Group’s growth ambitions, which aim to consolidate its leading position in its historical markets and to accelerate its development internationally and in high-potential markets.

Tournaire’s decision to open up its capital is also designed to involve its employees on a long-term basis in the company’s value creation, by giving them a full stake in the project’s success, and to strengthen the company’s corporate culture.

« I am delighted and proud of the success of this first employee shareholding plan, a project that makes a great deal of sense for our company and our employees. The excellent participation rate demonstrates the mutual trust between employees and the company, and underlines the strong desire of our teams to play an active part in the Group’s development. As a result of this operation, each employee will be able to benefit from the fruits of his labor and be directly involved in the creation of future value.», declares Vincent Monziols, President of Tournaire Group.

« This successful initiative is perfectly in line with the ambitious CSR strategy we are pursuing with Vincent and his team. Opening up the Group’s capital is a positive and inclusive way of getting all employees involved in a common project. This is fully in line with our approach as a responsible investor whose ambition is to reconcile economic development, social progress and reduced environmental impact. We are proud to have been able to set up this scheme. » underlines Patrick Eisenchteter, Founding Partner of Motion Equity Partners, which has become the Group’s reference shareholder in September 2022 alongside the Tournaire family.

Motion Equity Partners acquires a stake in Axience Group, alongside its Founder

21 February 2024

Motion Equity Partners announces it has acquired a stake in Axience Group, a leading French laboratory specialized in the development and commercialization of veterinary products, alongside its founder and CEO, Laurent Flaus.

Founded in 2001, the Group develops and commercializes pharmaceutical and OTC products primarily for pets, under its two brands Axience and Anidev.

The Group offers a comprehensive product range in its historical segments, covering all the needs of veterinarians. In particular:

  • Axience is specialized in the development of pharmaceutical products, notably well-known in the following segments: (i) analgesics and anesthetics, on which Axience is the market leader, (ii) prevention and control of infections with a leading range of antibiotics and hygiene disinfection solutions for veterinary clinics.
  • Anidev is the brand of the Group specialized in OTC products that complement Axience’s product portfolio.

The Group usually targets under-addressed market segments yet essential to the daily needs of veterinarians, with a strategic approach by therapeutic area and a focus on innovation and commercial revitalization. Axience products are primarily tailored for pets and addresses to a lesser extent livestock.

To ensure the highest standards of quality and safety, the Group exclusively outsources its production to European manufacturers with whom it has long-standing relationships. As a true innovation platform, Axience develops internally most of its products and distributes them to 6,500 veterinary clinics across France through its on-field sales force composed of 25 technical sales representatives. In recent years, Axience has concluded several partnerships facilitating the distribution of its products in Europe, which represents a new growth opportunity for the Group in the future.

Positioned on highly dynamic and resilient markets driven by macro trends such as the increasing humanization of pets, Axience ambitions to strengthen its position and become the leading vet specialist laboratory in Europe.

« Over the recent years, Axience has initiated numerous strategic projects and recorded a very dynamic growth. Motion Equity Partners will support us in materializing all these projects, as well as structuring our approach to pursue the development of the Group. This collaboration will also open up new growth opportunities for us, with notably the aim to develop our presence in Europe. The partnership with Motion Equity Partners was quickly concluded and easily implemented. This does augur for an efficient and pleasant future collaboration! » stated Laurent Flaus, Founder and CEO of Axience.

Leveraging our knowledge of the animal health market, which is an attractive segment experiencing strong growth, we identified Axience as one of the very successful businesses in the sector. In recent years, the Group has established itself as a key partner for veterinarians, offering recognized and innovative solutions. And we are confident that Axience has built strong foundations that the Group will leverage to serenely pursue its development.” said Patrick Eisenchteter and Anthony Baudoin, Partners at Motion Equity Partners.

Motion Equity Partners strengthens its team through the appointment of a Head of Investor Relations & ESG

11 January 2024

Motion Equity Partners strengthens its team with the recruitment of Mylène Bonot as Head of Investor Relations and ESG.

Mylène brings over 15 years of experience in the investment and Private Equity sector. She began her career at Primonial Group as a consultant and later joined Edmond de Rothschild in 2015, where she held various roles, including Investor Relations Manager for the group’s private assets. Mylène graduated from Neoma Business School.

Mylène joins Motion Equity Partners in January 2024 to supervise the Investor Relations department and the ESG & Impact strategy. This new recruitment will enable Motion to strengthen its relationships with its Limited Partners and actively pursue the implementation of its ESG roadmap.

We are pleased to welcome Mylène to the team. This is a natural step in Motion’s development, aligning with the positive momentum of the recent years.” state Patrick Eisenchteter and Cédric Rays, Founding Partners of Motion Equity Partners.

With over 25 years of experience in supporting French and international SMEs in collaboration with management teams, Motion Equity Partners is a leading Private Equity player with a strong commitment to sustainable and responsible growth. As an independent structure with €1bn under management, Motion Equity Partners relies on an experienced team of 15 investment professionals. Specialising in the mid-cap segment, it has supported the development of more than 20 French SMEs into international champions, and currently has 8 companies in its portfolio.

EA Pharma continues its international expansion by acquiring W Group and becomes Olyos Group

22 November 2023

Expert in nutrition and natural health, EA Pharma has announced the acquisition of U.S. food supplements specialist W Group and launched the global structure Olyos Group. The pharmaceutical group has initiated a new phase in its international expansion by entering the world’s biggest food supplements market.

Since the group’s flagship brand Le Laboratoire des Granions launched in 1948, EA Pharma has provided natural health solutions for all aspects of wellbeing, medicinal products, food supplements, medical devices and cosmetics. With the highest growth (+32%) of France’s ten largest food supplement manufacturers in Pharmacies and Drugstores across 2023(2), EA Pharma is the market leader in minerals, collagen, sports nutrition and joints and muscles care supplements.

As early as 2020, the French company initiated a radical transformation, focusing on three strategic areas: stronger partnerships with pharmacists based on staff training and brand visibility in pharmacies; an ambitious innovation policy aiming to consolidate its existing ranges and enter new market segments (Nutricosmetics, Childhood, Vitality & Immunity); and the development of e-commerce in Europe and China. Three business acquisitions boosted the two verticals (pharmacies and e-commerce): Labcatal (France) in 2020, Drasanvi (Spain) in 2021 and Stardea (Italy) in 2022.

Today, EA Pharma has announced the acquisition of W Group, a food supplement specialist founded in the United States in 2020, and the launch of a global structure, Olyos, comprising four international companies (EA Pharma, Drasanvi, Stardea and W Group).

‘‘We’re delighted with this acquisition, which is opening up new opportunities in the U.S. as we continue to develop W Group’s brands as well as launching some of our longstanding brands in that market’’ says CEO Thierry Verne.

Following a group’s initial European consolidation in three of the EU’s four biggest food supplement markets (Italy, France, Spain) and a second phase of international expansion characterized by strong growth in South America and China, Olyos Group has naturally turned to the United States, the world’s premier food supplements market “with a size estimated at 50 billion USD, much of which is online, facilitating accelerated market penetration” Deputy CEO Jonathan Bienfait clarifies.

More than ten Granions products have already been made available to U.S. consumers, largely thanks to the W teams’ e-commerce expertise. That agility is consistent with Olyos Group’s strategy: ‘‘pooling and synergies upstream for procurement and production (where economies of scale are) and agility downstream to meet the expectations of our customers, pharmacists and consumers’’ Thierry Verne explains. ‘‘Olyos Group develops innovative products from superior-quality active ingredients, plants, minerals, vitamins and amino acids, which we then market around the world under brands that appeal to and resonate with consumers in every country ’’ the CEO adds.

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Motion Equity Partners acquires a majority stake in Banook Group alongside Turenne Santé and its management team

19 October 2023

Motion Equity Partners announces its entry as the majority shareholder in Banook Group, an expert in the Cardiac Safety assessment of drug candidates, alongside Turenne Santé and Banook Group’s management team, who reinvest substantially in the operation.

Founded in 1999 in Nancy, Banook has established itself as a Cardiac Safety Central Service Provider specialized in the centralization of cardiac data derived from electrocardiograms (ECG) and central imaging within the context of clinical trials. For over 25 years, Banook has been a trusted partner for pharmaceutical laboratories, biotechnology companies, and generalist Contract Research Organizations (CROs), streamlining drug candidates’ safety and efficacity assessment by centralizing and analyzing ECG and medical imaging data. 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 centralization.

Historically based in Nancy, Banook has embarked on a strategic international expansion, first establishing a presence in Canada and then Germany through the acquisition of the Munich-based enterprise nabios Gmbh in 2021. In 2022, the company further expanded by opening an office in Boston. Additionally, the Group has strategically positioned multiple logistic hubs abroad, ensuring the swift provision of medical devices, enabling Banook to efficiently support multi-site clinical trials. Presently, Banook conducts almost two-thirds of its operations outside of France, addressing leading pharmaceutical laboratories. The Group employs ~70 people and is backed by a network of top-tier scientific and medical experts.

Operating in a rapidly growing Cardiac Safety market (+13% CAGR growth) the company led by Alexandre Durand Salmon was looking for additional resources to accelerate the Group’s expansion following a successful phase of structural development alongside Turenne Santé, with a specific emphasis on the United States, where the Group holds significant growth potential. The Management team therefore decided to embark on a strategic and financial partnership with Motion Equity Partners. Turenne Santé reinvests in the operation alongside Motion Equity Partners.

In the upcoming years, the strategic focus will be on consolidating Banook’s position as a leading European player in Cardiac Safety, for both ECG and imaging services, to accelerate its international expansion, especially in the United States, while also diversifying into adjacencies such as eCOA and biostatistics to better serve its customers. All the while pursuing its excellent customer service, with a continuous effort in innovation and contributing to the future of healthcare.

“After a successful transitional phase alongside Turenne Santé, both in terms of ownership and management, which notably included our first acquisition with nabios Gmbh in Germany, we are now ready to deploy our development strategy. The challenge of the upcoming years will be to reinforce our international expansion, with a strategic focus on North America, the world’s leading market. Motion Equity Partners has firmly established itself as the ideal partner to boost this next phase of our ambitious growth” stated Alexandre Durand Salmon, President of Banook Group.

“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 our proven track-record in supporting international external growth initiatives, we are well-prepared to provide Banook and its team with the resources required to realize their ambition” stated Cédric Rays and Anthony Baudoin, Partners at Motion Equity Partners.

“We are pleased to extend our partnership with Banook, alongside Alexandre and his team, and with the support of Motion Equity Partners who will enable the Group to reach a new stage of development and to pursue the momentum that was initiated on our side” stated Paul Chamoulaud, Partner at Turenne Santé.

Olmix reinforces its Animal Care business with the acquisition of brazilian biotech company Yes Sinergy

10 July 2023

Olmix Group, a global specialist of natural solutions for agriculture, announces the acquisition of the Brazilian biotech company Yes Sinergy, specialized in natural additives for animal nutrition and welfare.

Olmix is a global company specialized in developing, producing and distributing high-value biosourced solutions for livestock and crop farming. With more than 30 years of experience in the sector, the company has established itself as a specialist in marine biotechnology and green chemistry. Today, Olmix offers an innovative and recognized range of products based on algae, clays, trace elements, and organic matter. These products address two main markets: “Animal Care” (natural solutions for animal nutrition and health, with a focus on improving animal welfare and hygiene, reduce mycotoxin risks, and improve digestive efficiency) and “Plant Care” (natural solutions to improve soil structure, plant nutrition and health, while reducing the use of chemical inputs and phytosanitary products). Through its range of high-quality end-products and ingredients, the Group is a preferred partner of farmers, distributors, and farm supply manufacturers worldwide, enabling smart and sustainable agriculture.

Founded in 2008 in Brazil, Yes Sinergy draws on more than 15 years of R&D aimed at adding-value to by-products of the sugar-cane industry. As a result of all this work carried out in close cooperation with Brazilian universities and world-class researchers, the Group is now recognized as a specialist in the selection and production of high-value derivates of natural extracts. Its portfolio of innovative solutions aims at preventing the adverse effects of mycotoxins, improving digestive comfort, preventing contamination by pathogens and stimulating the immune responses while reducing the use of antibiotics for both livestock and pet.

The combination of Olmix and Yes Sinergy marks a new milestone in the development of Olmix’s Animal Care Business Unit. Through this acquisition, Olmix Group reaffirms its international ambitions and positions itself as a leader of biosourced solutions for agriculture, now achieving more than €200 million in revenue, including nearly €150 million in animal nutrition, health, and welfare.

Robert Clapham, Olmix Group CEO, commented: “The acquisition of biotech company Yes Sinergy is fully in line with the Animal Care Business Unit’s growth plans. I’m convinced that under the leadership of Mickael Rouault, who recently arrived at the head of this business, the two teams’ combined expertise and skills will stimulate innovation and the growth of our biosourced solutions The Group now has a global presence spanning Europe, Asia and Latin America, and the Animal Care Business Unit’s revenues are spread evenly across these three areas.”

“We are thrilled to announce the acquisition of Yes Sinergy, a structuring build-up for Olmix Group, marking the company’s first international acquisition since our investment. This is a unique opportunity for Olmix to complement its range of natural solutions, particularly in the pet food market, and accelerate its development in Latin America, one of the most dynamic agricultural markets. This acquisition comes on top of the strong organic growth of the Group over the past three years,” said Patrick Eisenchteter, Managing Partner at Motion Equity Partners.

Motion Equity Partners continues its development and hires two Analysts

14 June 2023

Motion Equity Partners continues its expansion and announces the recruitment of two new Analysts, Charlotte Marie and Pamela Duka.

Charlotte is a graduate of McGill University and ESCP Business School, and previously worked in EY’s M&A team in Paris. Pamela is a graduate of EM Lyon, and worked for Ardian and Bpifrance’s funds in Paris, and in Restructuring at KPMG.

Specializing in the mid-cap segment, the Motion team now counts 12 professionals. These latest recruitments will allow to actively pursue its long-standing investment strategy and support the transformation of French flagships into international champions. Motion has €1,000m under management, and currently 8 companies in portfolio.