Clearwater International France advises Capital Croissance and Turenne Capital on the sale of a majority stake of BIOBank

Backed by Capital Croissance and Turenne Capital since 2014, who remain minority reinvestors in the new transaction, BIOBank, led by Patrick Joucla, now pursues its expansion alongside New Alpha Verto.

BIOBank is a top French human origin bone bank who provide services from bone collection (femoral heads) to transformation, and then the distribution of virally inactivated and sterile bone grafts used in orthopaedic and dental surgery.

Founded in 1999, the company generates a turnover of c. €12m.

With almost 130 partnerships with healthcare institutions and the collection of c. 9,000 femur-heads in 2017, BIOBank has strengthened its position as the leader of the French allograft market.

With New Alpha Verto, the company intends to develop further R&D projects and to accelerate its international expansion. BIOBank also wishes to expand through external growth, and is already exploring two projects with high value creation.

The Clearwater International team was composed of Philippe Croppi, Thomas Hamelin, Agnès Flores and Thibaut Couvrecelle.

“ This new success story supports our positioning as an added value partner to growing companies. With a return on investment between 4.0x and 4.5x on our initial funding and an annual IRR over 50%, we are proud of the work done by the teams. This fourth exit within 12 months (after SAFE, altima° and HL Trad) allows our investors to secure their initial funding and suggests a very strong performance for our 1st fund, CAIRN Capital I.”

Eric Neuplanche, President, Capital Croissance

“ Given the work done with the management team by Capital Croissance and Turenne Capital, BIOBank has a strong growth potential in France and internationally, driven by both organic and external activity. This new step with New Alpha Verto’s industry experience and its expertise in acquisitions, will significantly boost BIOBank’s development.”

Philippe Croppi, Clearwater International France