Paragon Partners

In 2004, Paragon was founded by Edin Hadzic and Krischan von Moeller. Hadzic already had experience in the private equity industry through his partner position at {{interlanguage link|Triton Partners|lt=Triton|de}}.{{cite web|url=https://www.bloomberg.com/profile/person/18068296|title=Edin Hadzic|publisher=Bloomberg|access-date=2021-04-13|language=en}} Von Moeller had worked for the Holtzbrinck Publishing Group and the Boston Consulting Group.{{cite web|url=https://www.bloomberg.com/profile/person/18068311|title=Krischan von Moeller|publisher=Bloomberg|access-date=2021-04-13|language=en}} In 2010, Marco Attolini, who was previously also with Triton, joined the company as a third partner.{{cite web|url=https://www.bloomberg.com/profile/person/18068400|title=Marco Attolini|publisher=Bloomberg|access-date=2021-04-21|language=en}}

After initial successful investments, Paragon Secondary Partners was founded to bundle different assets.{{cite web|url=https://find-and-update.company-information.service.gov.uk/|title=Paragon Secondary Partners, LP|website=Companies House|access-date=2021-04-13|language=en}} The investment fund was active until 2011.{{cite web|url=https://www.privateequitywire.co.uk/2011/06/10/117841/vision-capital-acquires-portfolio-three-companies-paragon-secondary-partners|title=Vision Capital Acquires Portfolio of Three Companies From Paragon Secondary Partners|website=Private Equity Wire|date=2011-06-10|access-date=2021-04-13|language=en}} In 2008, Paragon then finally launched the Paragon Fund I with a volume of around €200 million. In 2009, the company achieved greater awareness with the acquisition of {{interlanguage link|Schülerhilfe|de}}, the German market leader for private tutoring.{{cite news|first1=Marion|last1=Schmidt|title=Finanzinvestor kauft Schülerhilfe|newspaper=Financial Times Deutschland|date=2009-09-11|page=15|language=de}}

The Paragon Fund II, which was launched in 2014 with around €400 million in committed capital, sought to acquire the insolvent Weltbild Publishing Group to restructure it and keep it as a whole.{{cite web|first1=Sabrina|last1=Willmer|first2=Kiel|last2=Porter|url=https://www.welt.de/newsticker/bloomberg/article125424638/Paragon-Partners-sammelt-fuer-Buyout-Fonds-400-Mio-Euro-Kreise.html|title=Paragon Partners sammelt für Buyout-Fonds 400 Mio. Euro.|website=Welt|date=2014-03-04|access-date=2021-04-13|language=de}}{{cite news|title=Finanzinvestor kauft Weltbild. Paragon kauft insolvente Kette ganz.|newspaper=Welt|date=2014-05-12|page=9|language=de}}{{cite news|language=de|first1=Joachim|last1=Hofer|title=Das Weltbild von Paragon: Nach der geplanten Übernahme soll das angeschlagene Verlagshaus als Ganzes erhalten bleiben.|newspaper=Handelsblatt|date=2014-05-13|page=16}} Due to differences over transaction details, Paragon had to improve its offer but failed to complete the acquisition.{{cite web|language=de|url=https://www.spiegel.de/wirtschaft/unternehmen/weltbild-gruppe-paragon-bessert-angebot-nach-a-980250.html|title=Weltbild-Gruppe: Paragon bessert Angebot nach.|website=Spiegel|date=2014-07-10|access-date=2021-04-13}}{{cite web|url=https://www.wiwo.de/unternehmen/handel/insolvenz-droege-wird-neuer-investor-fuer-weltbild/10209470.html|title=Insolvenz: Droege wird neuer Investor für Weltbild.|website=WirtschaftsWoche|language=de|date=2014-07-16|access-date=2021-04-13}} In 2015, Paragon participated in a tight bidding round for the {{interlanguage link|Balda (company)|lt=Balda Group|de|Balda}} but ultimately was not able to close the deal.{{cite news|first1=Antje|last1=Kullrich|url=https://www.boersen-zeitung.de/unternehmen-branchen/paragon-legt-im-bieterkampf-um-balda-nach-73875d82-396f-4a57-a006-a5343529f50d|title=Paragon legt im Bieterkampf um Balda nach.|language=de|newspaper=Börsen-Zeitung|date=2015-10-21|access-date=2021-04-27|page=13}}{{cite web|first1=Jacob|last1=Eich|url=https://www.finance-magazin.de/deals/ma/stevanato-setzt-sich-bei-ma-schlacht-um-balda-durch-1372741/|title=Stevanato setzt sich bei M&A-Schlacht um Balda durch.|website=Finance Magazin|date=2016-02-01|access-date=2021-04-21|language=de}}

In 2019, the company launched its fourth investment fund, the Paragon Fund III,{{cite web|language=en|url=https://deal-advisors.com/paragon-partners-with-new-eur-780-million-fund|title=Paragon Partners With New Eur 780 Million Fund|website=Deal Advisors|date=2019-07-25|access-date=2021-05-05}} for which it raised almost €800 million.{{cite web|language=de|first1=Philipp|last1=Habdank|url=https://www.finance-magazin.de/deals/private-equity-private-debt/paragon-schliesst-rekordgrossen-buy-out-fonds-2042781/|title=Paragon schließt rekordgroßen Buy-out-Fonds.|website=Finance Magazin|date=2019-07-25|access-date=2021-04-13}} This enabled, among other things, the acquisition of the industrial services provider Castolin Eutectic. The acquisition of Castolin Eutectic was one of the most significant private equity transactions in Germany during the COVID-19 pandemic.{{cite news|first1=Christoph|last1=Ruhkamp|title=Messer verkauft Tochter an Finanzinvestor Paragon.|newspaper=Börsen-Zeitung|date=2020-04-23|page=7|language=de}}

Paragon invests in medium-sized companies in Germany, Austria, and Switzerland for several years. Generally, Paragon acquires a majority stake and supports companies in their strategic and operational development to increase their enterprise value. It usually takes five to seven years before Paragon sells the company again.{{cite news|language=de|first1=Claudia|last1=Obmann|first2=Hans-Jürgen|last2=Jakobs|title=Nichts für Kuscheltypen|newspaper=Handelsblatt|date=2019-09-20|page=50}}

Since 2004, Paragon has invested in more than 30 companies. Currently, the portfolio includes about a dozen companies, including Pro Optik and the Weka Group.{{cite news|first1=Florian|last1=Kolf|title=Unternehmer des Tages: Micha Siebenhandl – Mit Tradition gegen die Großen.|newspaper=Handelsblatt|language=de|date=2020-07-29|page=44}}{{cite web|language=de|url=https://www.boersenblatt.net/news/paragon-partners-wird-neuer-gesellschafter-der-weka-firmengruppe-109541|title=Paragon Partners übernimmt Weka.|website=Börsenblatt|date=2020-07-01|access-date=2021-04-13}} Total investments have a combined workforce of 6,000 and sales of €1.3 billion.{{cite web|language=de|url=https://www.paragon.de/#zahlen-fakten|title=Zahlen & Fakten|publisher=Paragon Partners|access-date=2021-04-13}}

Paragon operates as a limited liability company (GmbH) under German law. Its object extends to the investment in other companies as well as consulting services in this field.{{cite web|url=https://www.unternehmensregister.de/|language=de|title=Paragon Partners GmbH (AG München, HRB 154253)|website=Unternehmensregister|publisher=Bundesanzeiger Verlag|access-date=2021-04-13}} The Paragon Funds I, II, and III are structured as limited partnerships with limited liability (GmbH & Co. KG).{{cite web|language=de|url=https://www.unternehmensregister.de/|title=The Paragon Partners Fund I GmbH & Co. KG (AG München, HRA 91633)|website=Unternehmensregister|publisher=Bundesanzeiger Verlag|access-date=2021-04-13}}{{cite web|language=de|url=https://www.unternehmensregister.de/|title=The Paragon Partners Fund II GmbH & Co. KG (AG München, HRA 102079)|website=Unternehmensregister|publisher=Bundesanzeiger Verlag|access-date=2021-04-13}}{{cite web|language=de|url=https://www.unternehmensregister.de/|title=The Paragon Partners Fund III GmbH & Co. KG (AG München, HRA 109236)|website=Unternehmensregister|publisher=Bundesanzeiger Verlag|access-date=2021-04-13}}

Paragon's shareholders are the three partners Marco Attolini, Edin Hadzic, and Krischan von Moeller. They each hold one third of the shares and also form the company's management. Currently, around 35 people work for Paragon.{{cite web|url=https://www.paragon.de/team/|title=Team|publisher=Paragon Partners|access-date=2021-04-27|language=de}}

{{Reflist}}

• {{Official website}}

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Category:German companies established in 2004

Category:Companies based in Munich

Category:Private equity firms