Paragon acquired a majority stake in TP Food Group ('TPFG') from Xenon Private Equity and other minority shareholders, including the founding families.
Based in S. Giorgio in Bosco (Italy), TPFG is a leading group in the production of equipment and production lines for food processing, with a specialisation in industrial and artisanal bakery. TPFG specialises in supplying state-of-the-art equipment such as ovens, mixers, freezers and spiral conveyor systems with a wide range of applications in the bakery and other food segments. The company's solutions are used by leading food manufacturers globally for efficient and high-quality production.
In cooperation with TPFG's current management, Paragon intends to further accelerate the company's growth strategy. This partnership will enable TPFG to explore new applications and markets, further expand its global presence and enrich its product and service portfolio. Paragon also plans to support strategic acquisitions to further strengthen the company's ability to offer complete integrated solutions
Max Moser von Filseck, Partner at Paragon, commented: 'TP Food Group aligns perfectly with Paragon's strategy. We look for resilient companies with structured growth in attractive niche sectors and the potential for improvement to create long-term value for all stakeholders. With its strong reputation in the baking industry, in particular for its patented spiral systems, and its significant growth potential globally, both in products and after-sales/replacement services, TPFG represents an attractive opportunity. We are excited to support management in this next phase of growth."
Fabrizio Korosec, CEO of TPFG, said: "The cooperation with Paragon gives us the strategic support we need to realise our long-term growth ambitions. With their support, we will continue to expand internationally and broaden our offering so that our customers can produce the highest quality products possible. I am confident that this partnership will bring great benefits."
THE COMPANIES
TP Food Group
Based in S. Giorgio in Bosco, Italy, TP Food Group employs around 450 people and is a leading supplier of equipment and production lines for food processing, especially industrial and artisanal bakery. The group operates through four companies and offers a range of production solutions from customisable single machines (Mimac and Logiudice) to specialised equipment such as spiral systems (Tecnopool) to turnkey production lines (Gostol).
Paragon
Founded in 2004, Paragon is one of the leading private holding companies in the DACH region and neighbouring countries. Paragon works closely with the companies in its portfolio with the goal of sustainable growth and operational excellence. Paragon's portfolio covers various sectors; it currently comprises 12 companies with equity capital in excess of EUR 2.4 billion. The company has offices in Munich, Germany, and Milan, Italy. Paragon is currently investing from its Fund III of EUR 800 million and has increased its Fund IV by EUR 1.2 billion, ready to be invested. For more information on the company, visit www.paragon.de/en .
Xenon
Xenon Private Equity is an institutional investor with over 30 years of experience in investing in Italian mid-cap companies and co-managing companies with ambitious growth plans.
Since its foundation, Xenon has promoted 8 private equity funds, an impact investment fund and a fund for companies in the Small-Cap segment, raising capital in excess of EUR 1.6 billion. Currently, Xenon has active investments in 14 groups of companies. Xenon stands out as a financial investor with a strong focus on business dynamics, supporting entrepreneurs in creating leading companies in Italy in the advanced manufacturing and B2B services sectors characterised by marked market fragmentation. It also stands out for its strong commitment to a partnership approach with entrepreneurs.
Daniele Toni