Paragon Sold to Rhône

Industrial

Paragon, a portfolio company of Wellspring, sale to funds affiliated with Rhône


Summary

Paragon Films (“Paragon” or “The Company”), a portfolio company of Wellspring Capital Management (“Wellspring”), recently announced its sale to investment funds affiliated with Rhône. The transaction is subject to customary closing conditions and regulatory approvals. Terms of the transaction were not disclosed.

Baird served as lead financial advisor to Paragon Films on this transaction.

About

Paragon is a market leading manufacturer of ultra high-performance cast stretch films that are principally used to unitize product loads while in storage and transit by customers in e-commerce, fast moving consumer goods and other essential industries. Founded in 1988, Paragon is highly regarded for producing technologically advanced stretch films, focused on sustainability at every step from design to formulation. The Company operates three state of the art manufacturing facilities in Oklahoma, North Carolina and Washington state with headquarters in Broken Arrow, Oklahoma.

Wellspring Capital Management is a leading private equity firm headquartered in New York, New York. Since its founding in 1995, Wellspring has raised over $4.5 billion of initial capital commitments through six private equity funds. As of the end of 2020, Wellspring’s portfolio companies collectively employed nearly 60,000 people around the world and generated aggregate revenues in excess of approximately $4.5 billion. Over the past 25 years, Wellspring has invested in over 45 platform investments across various segments of the United States and global economies. Wellspring’s objective is to bring partnership, experience and value creation to each investment. By teaming up with strong management, Wellspring seeks to unlock underlying value and pursue new growth opportunities through strategic initiatives, operating improvements and add-on acquisitions. Wellspring functions as a strategic partner, providing management teams with top-line support, M&A experience, financial expertise and access to resources.

Rhône, established in 1996, is a global private equity firm with a focus on investments in businesses with a transatlantic presence. Rhône’s investment philosophy includes the development of strong, strategic partnerships with the companies in which it invests. Rhône has a history of successful corporate carve-out transactions and working with entrepreneur and family-led businesses, and operates across its London, New York and Madrid offices. Rhône has invested in a diversified portfolio of companies including investments in the business services, consumer and industrial sectors.
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Industrial

Paragon, a portfolio company of Wellspring, sale to funds affiliated with Rhône

Date
November 2021
Company
Paragon Films
Transaction
M&A - Sellside
Sectors
Industrial
Verticals
Packaging & Containers
Target Location
North America
Acquiror Location
Europe

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