IK Partners, via its IK Small Cap III Fund, will acquire a majority stake in BIOBank, a French manufacturer and distributor of bone allografts, from investment firms Verto Growth and Capital Croissance as well as the management team, who will be reinvesting.
Financial terms of the transaction have not been disclosed.
Founded in 1999 and headquartered in Lieusaint, BIOBank is a human tissue bank specialising in the preparation and distribution of bone allografts — which are taken from another individual’s tissues, and used to repair and replace damaged or diseased bone tissues with the aim of providing a structure for new ones to grow — for orthopaedic, spine, dental and cranio-maxillofacial surgery. The company has approximately 50 employees and serves 1,700 customers in France and eight additional international markets through its own distributor in Switzerland and indirectly through a network of third-party distributors.
BIOBank is one of only three private processing tissue banks in France to be approved by the French national drug safety agency, ANSM, and commands more than 50% market share in France, according to a press statement.
With the support of IK, the company plans to accelerate organic international expansion and pursue inorganic growth through the execution of a selective buy-and-build strategy.
