Bedfordshire-based Paragon provides services to vehicle manufacturers, rental companies, dealer groups and other operators of large vehicle fleets. The company says it has enjoyed significant growth this year and this latest acquisition gives them the opportunity to provide a truly nationwide service. Founded in February of this year, Paragon sees the acquisition as being vital to its plans for contractual and revenue growth.
Stephen Hucklesby, managing director at Paragon Automotive says: “This is an exciting and important transaction for Paragon. We now have three operating centres strategically located in the UK, which represents a critical mass from which we can promote growth in our target markets.”
The sale to Paragon Automotive will see a total of 130 jobs secured at the Immingham site in Lincolnshire and a further 40 at the Kirriemuir site in Scotland. The enhanced business will have an estimated annual turnover of more than £10m.