Houlihan Lokey Advises Paragon Partners

Houlihan Lokey is pleased to announce that funds advised by Paragon Partners (Paragon) have entered into a definitive agreement to sell inprotec, a leading provider of industrial drying technologies, to International Chemical Investors Group (ICIG).

inprotec, based in Heitersheim, Germany, offers its clients a long-standing experience as the leading contract manufacturer for industrial drying and granulation services using fluidised bed spray granulation, coating, matrix encapsulation, and spray-drying technologies. As an expert in this field, inprotec is the partner of choice to realise innovative and complex production processes and to overcome customers’ capacity and know-how bottlenecks. In recent years, the company has handled more than 2,500 starting materials and intermediate products across several industries (consumer goods, animal feed, cosmetics, plastic additives). inprotec operates two production sites in Heitersheim and Genthin today and employs c. 270 employees.

ICIG is a privately owned industrial group with total sales of approximately €4 billion. ICIG is focusing on three main platforms: Fine Chemicals under the WeylChem brand, Chlorovinyls under the Vynova brand, and Enterprises, which comprises specialised companies active in fermentation products, viscose filament, activated carbon, and wood protection chemicals (including Corden BioChem, ENK, CarboTech, and Rütgers Organics). Since inception in 2004, ICIG has grown to operate more than 20 independent chemicals and pharmaceutical businesses, all of which have origins in major global chemical or pharmaceutical corporations. Today, ICIG companies employ approximately 4,500 employees and operate more than 28 manufacturing facilities in Europe and the United States.

Paragon is one of the leading independent private equity firms in Europe with more than €1.2 billion of equity under management. Paragon works closely with portfolio companies to achieve sustainable growth and operational excellence. The investment portfolio covers various industries and currently comprises 14 companies. Paragon was founded in 2004 and is based in Munich.

Houlihan Lokey served as the exclusive financial advisor to Paragon. This deal highlights the firm’s deep chemicals sector expertise and the ability to identify potential investors even in challenging macroeconomic environments.