Atlantic Ridge Capital and Grafine Partners agreed on 13 October to acquire Paragon Films from Rhône for about $900m.
Why Atlantic Ridge Capital and Grafine Partners is buying Paragon Films
Atlantic Ridge, which focuses on middle-market industrial technology companies, will lead the investment and work with Paragon's existing management. Paragon, founded in 1988, manufactures hand and machine stretch films, including grades with recycled content.
Deal terms and financing
The price is about $900m. Atlantic Ridge leads the investment in partnership with Paragon's management team and Grafine Partners, an original backer of Atlantic Ridge.
Regulatory approvals and timing
The transaction is subject to customary closing conditions and is expected to close in the fourth quarter of 2026.
Market context
Rhône acquired Paragon in December 2021 from Wellspring Capital Management. Under its ownership Paragon grew organic profits by more than 50%, improved margins and added manufacturing capacity, according to Rhône.
