Paragon Partners exits Inprotec to ICIG

• Inprotec’s profitability has grown with a high double-digit CAGR since being bought by Paragon
• The company works in automation and controls in the industrial process environment
• International Chemical Investors Group (ICIG) is an industrial group focused on mid-sized chemical and pharmaceutical businesses

Paragon Partners announced it has agreed to sell Inprotec to ICIG. The deal is expected to close in November.

Inprotec is headquartered in Milan and works in automation and controls in the industrial process environment. The company was bought by Paragon in 2018, which has since invested over €20 million into expanding its production facilities.

Since Paragon bought the company, Inprotec’s profitability has grown with a high double-digit compound annual growth rate, according to Paragon.

The buyer, ICIG, is an industrial group focused on mid-sized chemical and pharmaceutical businesses. It is headquartered in Luxembourg.

“The acquisition of Inprotec aligns with our long-term strategy to expand our offering in innovative, first-class contract manufacturing services,” said Achim Riemann, managing director of ICIG. “We are impressed by Inprotec’s superb reputation, strong customer relationships and demonstrated financial performance and would plan to grow the reach to further industries and geographies.”

Paragon is a German private equity firm based in Munich. It was founded in 2004 and invests in mid-sized businesses. It has €1.2 billion in assets under management and has made over 40 investments to date.