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© 2007 Paragon
Advisory Pty Ltd
Paragon Raises $30 Million For Investment
The final investor to join was The Private Capital Group (TPCG), a group of a dozen superannuation funds, primarily based in Queensland. TPCG is managed by Sovereign Investment Research, which is owned by Carnegie, Wylie & Co. It has committed $5 million to the Paragon fund.
The Executive Chairman of Paragon, Mr Greg Boulton, said that funding from the State Government’s Venture Capital Board had provided a strong incentive for private investors to put their money into Paragon.
“It is great to now have a substantial pool of money for private equity investment,” he said.
Paragon’s Chief Executive, Geoff Thomas, said the fund size enabled Paragon to invest up to $5 million to expand companies, or up to $15 million to acquire them.
“The ability to make substantial acquisitions is important, as baby boomer owners seek to retire,” he said.
“For many of them, the value in their business is their retirement funding. We can buy the business for cash, and the owner can choose to stay on, either full time or part time, or retire completely.”
Paragon recently successfully sold two businesses – KEE Technologies and BresaGen.
“Later this month we will be returning well over half of the money invested so far by our investors through the profits made from the investments”, Mr Boulton said.
“All shareholders in KEE and BresaGen gained from our investment, and the businesses have remained here – it is a win-win-win – a win for our investors, a win for the other shareholders, and a win for the employees.”
Paragon expects to make another seven investments over the next two years. “We’ve got money in the bank – now we have to invest it,” Mr Thomas said.
Further Information:
Geoff Thomas
Chief Executive
Paragon Advisory
Ph: 08-8271 0160
Greg Boulton
Executive Chairman
Paragon Advisory
Ph: 08-8271 0160
Paragon Paragon Equity is a private equity fund headquartered in Adelaide. Its principal investors are Non Government Schools Superannuation, The Private Capital Group and the South Australian Financing Authority. Paragon is able to make investments anywhere in Australia, and in most industry sectors. It is a buyout and expansion capital fund.
Level 1, 121 Greenhill Road
UNLEY SA 5061
Tel (08) 8271 0160
Fax (08) 8373 5075
enquiry@paragonadvisory.com.au