BGF exits Thames Technology

Paris-listed Paragon ID, a provider of identification and traceability services, has wholly acquired the company. This marks the acquirer's second purchase in the payments sector following the acquisition of AmaTech in 2018.

BGF's Mark Bryant will step down from the board as part of the transaction.

Since the firm's holding period started in 2013, the business has increased production capacity and improved its service offering.

Previous funding
BGF first invested in the company in 2013, with £3.2m to support the acquisition of new manufacturing equipment.

Company
Founded in 1994, Thames Technology designs and manufactures payment, loyalty and gift cards, which are distributed to customers in more than 60 countries around the world. Its annual revenues exceed £15m, split between the financial and retail sectors. The company is headquartered in Essex, where it operates its production site.

People
BGF – Mark Bryant (head of manufacturing).
Paragon ID – Clem Garvey (CEO).
Thames Technology – Che Colford (operations director).

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• Topics
• Exits
• UK / Ireland
• Support services
• BGF (Business Growth Fund)
• United Kingdom
• Trade sale