Paragon sells Kadi to Invision

The sale ends a holding period of five and a half years for Paragon, which acquired the business from ECM Equity Capital Management.

Paragon put the business up for sale in June, marketing it based on EBITDA of €15m from €65m sales, according to Unquote sister publication Mergermarket.

The GP is currently in the market with its third fund, Paragon Partners Fund III, which was registered in July 2018.

Invision is also currently fundraising for its sixth buyout vehicle and held a first close on €187m, against a €375m target in November.

Previous funding
ECM backed Kadi in June 2008, drawing equity from German Equity Partners III. It sold the business to Paragon five years later based on turnover of CHF 66m.

Company
Founded in 1951, Kadi produces refrigerated and frozen food products for the catering and retail markets. In 2017 it achieved sales of CHF 75m with 180 employees.

People
Paragon Partners – Marco Attolini (managing partner).
Kadi – Christof Lehmann (CEO).

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• Topics
• Exits
• Buyouts
• DACH
• Consumer
• Paragon Partners GmbH
• Invision Private Equity AG
• Secondary buyout
• Switzerland