A link has been emailed to you - check your inbox.

By: Journal Record Staff December 23, 2021 0

NEW YORK CITY – Wellspring Capital Management Group, a New York-based private equity firm, announced Thursday that it has closed the sale of its portfolio company Paragon Films Inc. to affiliates of private equity firm Rhône. Financial terms of the transaction were not disclosed.

Founded in 1988 and headquartered in Broken Arrow, Oklahoma, Paragon is a leading manufacturer of high-performance stretch films for transit packaging distributors serving the food and beverage, consumer products, logistics and industrials end markets, among others.

Darin Tang, CEO of Paragon, said, “Wellspring’s sector expertise and network of resources allowed us to exceed our growth expectations despite the challenging operating environment presented by the COVID-19 pandemic. As we embark on this next chapter with Rhône, we thank Wellspring for its stewardship and support over the last several years.”

Advance your business edge with news from The Journal Record. Register now for more article access.

Tagged with: Paragon Films Inc. Wellspring Capital Management Group

Your email address will not be published. Required fields are marked *

Save my name, email, and website in this browser for the next time I comment.

Tribal Economic Impact 2019: Focus on Gaming

Tribal Economic Impact 2018 – Building New Opportunities

Real estate boom continues; inventory remains short