Paragon Print & Packaging
Paragon Print & Packaging is a leading manufacturer of responsible packaging for the retail food and non-food industry.
The company provides a range of packaging solutions including printed labels, sleeves, cartons, film solutions and lined boards to a number of the UK’s major food retailers. Paragon operates ten manufacturing facilities in the UK and employs more than 1,200 staff.
Equistone has a long-standing relationship with Paragon and has remained invested in the business since 2001. In 2005, Equistone partially realised its investment in Paragon and re-invested funds in 2007 to support the continued development of the company.
Since investment, Paragon has continued its impressive growth, with turnover increasing from £113m in 2007 to a forecasted £178m in 2012, despite the economic downturn.
Equistone has worked alongside the management team to develop the business with a number of initiatives including:
- Strengthening revenue growth and geographic footprint through acquisitions, new partnerships and organic growth.
- Building scale in core product areas through significant investment in a second film production site and a dedicated “sleeve and board” facility.
- Diversifying Paragon’s product offering and strengthening its customer proposition through strategic acquisitions, including Skanem and Sessions of York.
- Expanding its customer base from 560 to over 1,800 in 2012.
- Transitioning leadership from the founder of the business, Tony Lennon, to current Group Managing Director Mark Lapping in 2010. Mark was a highly respected internal candidate who joined the group in 2007, and Tony continues to provide consultancy services to the management team.
Equistone announced the successful sale of its investment in Paragon to Sun Capital Partners for an undisclosed sum.
Equistone has provided a tremendous amount of support during its investment period and we are delighted with the Company’s performance to date, as well as our prime positioning in the market place.