Grafine and Atlantic Ridge to buy Paragon Films in $900M deal
What's the deal? Grafine PartnersDealroom has a profile for this one. Try Dealroom → and Atlantic Ridge CapitalDealroom has a profile for this one. Try Dealroom → will acquire Paragon FilmsDealroom has a profile for this one. Try Dealroom →, a maker of protective packaging films, in a transaction valued at roughly $900 million. Atlantic Ridge will lead the investment and work with Paragon's management. The deal is expected to close in the fourth quarter of 2026.
Who is Paragon? Founded in 1988 and based in Broken Arrow, Oklahoma, Paragon manufactures films used to secure and protect products during storage and transit. Its proprietary formulations let customers achieve load containment with thinner-gauge films, cutting costs by 20% to 30% while using 20% to 40% less film.
The company serves more than 20,000 end users across food and beverage, consumer products, e-commerce, retail, and industrial markets.
The rationale: "Our underwriting gave us strong conviction in Paragon's business and long-term growth potential," said Elizabeth Weymouth, founder and managing partner of Grafine Partners. She pointed to the company's "differentiated competitive position, durable demand, strong fundamentals and multiple avenues for value creation."
Why now? The deal marks a milestone in Grafine's partnership with Atlantic Ridge, which began when Grafine became an early institutional investor in Atlantic Ridge's first fund. Atlantic Ridge founder Eytan Tigay called Grafine's "investment expertise, capital and long-term perspective" instrumental in bringing the transaction together.
The signal: Grafine's model centres on backing sector specialists as they launch their own firms, then co-investing. The Paragon acquisition shows that playbook in action — pairing Atlantic Ridge's industrial technology focus with Grafine's institutional capital to target durable middle-market businesses.
Read more: prnewswire.com
Image credit: seanmfreese
