Investec provides £110m debt package to Sun's Paragon
Investec Growth & Acquisition Finance has provided a £110m integrated debt facility to refinance the acquisition of Paragon Print & Packaging by Sun European Partners.
The fresh debt comprises a blend of revolving and amortising term facilities. It will refinance the senior secured acquisition debt arranged at the time of Paragon's SBO earlier this year.
Sun bought a majority stake in British label maker Paragon from Equistone, LDC and the management team earlier this year. The deal valued Paragon, which has a turnover of more than £170m, at £150m.
Paragon is a Spalding-based producer of labels and packaging, founded in 1994.
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