Paragon Partners
Paragon Partners is a Munich-based private equity firm founded in 2004 that acquires mid-market companies in the DACH region with operational improvement potential. The firm manages more than EUR 2.4bn of equity across four buyout funds: Paragon I (2004), Paragon Fund II (EUR 412m, 2014), Paragon Fund III (EUR 783m, 2019) and Paragon Fund IV, closed at EUR 1.2bn in September 2023. Founding partners Edin Hadzic and Krischan von Moeller lead a team of around 30 professionals.
AUM
€2.4B
Funds
4
vintages 2004–2023
Portfolio
13
Exits
26
SectorsIndustrialsBusiness ServicesConsumerSoftwareHealthcare
Key facts
Recent exits
Asic Robotics
Industrials · 2026 · 8yr hold
APONTIS PHARMA
Pharma · 2024 · 6yr hold
Condecta
Business Services · 2024 · 7yr hold
UNICEPTA
Business Services · 2024 · 6yr hold
Coverage notes
4 funds tracked, 39 portfolio companies (13 active · 26 realized). Verified weekly from public filings and deal announcements.
Funds & portfolio
Every fund Paragon Partners has raised, with its portfolio companies. Hand-checked from public filings.
4 funds
Paragon Fund IVBuyout2023 · 3yr€1.2B5 active
Unrealized
5 held| Company | Sector | Geo | Entry |
|---|---|---|---|
| BALDUR-Garten | E-commerce | Germany | 2026 |
| Dymatrix | Software | Germany | 2025 |
| Primed | MedTech | Germany | 2023 |
| SCHELL | Industrials | Germany | 2025 |
| TP FOOD GROUP | Industrials | Italy | 2024 |
BALDUR-GartenActive
E-commerceGermany· Entry 2026
DymatrixActive
SoftwareGermany· Entry 2025
PrimedActive
MedTechGermany· Entry 2023
SCHELLActive
IndustrialsGermany· Entry 2025
TP FOOD GROUPActive
IndustrialsItaly· Entry 2024
Paragon Fund IIIBuyout2019 · 7yr€783M8 active
Unrealized
8 held| Company | Sector | Geo | Entry |
|---|---|---|---|
| 7days | Consumer | Germany | 2020 |
| Castolin Eutectic | Industrials | Germany | 2020 |
| cunova | Industrials | Germany | 2022 |
| DUO PLAST | Industrials | Germany | 2019 |
| pro optik | Consumer | Germany | 2019 |
| Questel | Software | France | 2021 |
| Sovendus | AdTech | Germany | 2021 |
| WEKA Group | Business Services | Germany | 2020 |
7daysActive
ConsumerGermany· Entry 2020
Castolin EutecticActive
IndustrialsGermany· Entry 2020
cunovaActive
IndustrialsGermany· Entry 2022
DUO PLASTActive
IndustrialsGermany· Entry 2019
pro optikActive
ConsumerGermany· Entry 2019
QuestelActive
SoftwareFrance· Entry 2021
SovendusActive
AdTechGermany· Entry 2021
WEKA GroupActive
Business ServicesGermany· Entry 2020
Paragon Fund IIBuyout2014 · 12yr€412M0 active · 9 realized
Realized
9 exits| Company | Sector | Geo | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|---|---|
| Anti-Germ & Medentech | Industrials | Germany | 2015 | 2017 | Trade Sale | – | |
| APONTIS PHARMA | Pharma | Germany | 2018 | 2024 | Trade Sale | – | |
| Asic Robotics | Industrials | Switzerland | 2018 | 2026 | Secondary | – | |
| chicco di caffe | Business Services | Germany | 2017 | 2023 | Trade Sale | – | |
| Condecta | Business Services | Switzerland | 2017 | 2024 | Secondary | – | |
| inprotec | Industrials | Germany | 2018 | 2022 | Trade Sale | – | |
| NovumIP | Business Services | Germany | 2016 | 2021 | Trade Sale | – | |
| UNICEPTA | Business Services | Germany | 2018 | 2024 | Trade Sale | – | |
| WEMAS | Industrials | Germany | 2017 | 2023 | Trade Sale | – |
Paragon IBuyout2004 · 22yr€200M0 active · 17 realized
Realized
17 exits| Company | Sector | Geo | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|---|---|
| ABL-TECHNIC | Business Services | Germany | 2007 | 2011 | Secondary | – | |
| AWG Fittings | Industrials | Germany | 2010 | 2016 | Trade Sale | – | |
| DICTUM | Consumer | Germany | 2005 | 2006 | – | – | – |
| dtms | Telecom | Germany | 2014 | 2019 | Trade Sale | – | |
| elero | Industrials | Germany | 2011 | 2015 | Trade Sale | – | |
| EOS Saunatechnik | Consumer | Germany | 2011 | 2013 | MBO | – | – |
| Europart | Logistics | Germany | 2011 | 2017 | Secondary | – | |
| KADI | Consumer | Switzerland | 2013 | 2019 | Secondary | – | |
| KINSHOFER | Industrials | Germany | 2006 | 2007 | Trade Sale | – | |
| MG Metallwarenfabrik Gemmingen | Industrials | Germany | 2008 | 2011 | Secondary | – | |
| PAKI Logistics | Logistics | Germany | 2005 | 2012 | Trade Sale | – | |
| POLO Motorrad | Consumer | Germany | 2012 | 2015 | Secondary | – | |
| Rudolf Riester | MedTech | Germany | 2006 | 2007 | Trade Sale | – | |
| Schuelerhilfe | Education | Germany | 2009 | 2013 | Secondary | – | |
| Stumpp+Schuele | Industrials | Germany | 2011 | 2012 | Trade Sale | – | |
| Swisshaus | Construction | Switzerland | 2006 | 2011 | Secondary | – | |
| Wer liefert was | E-commerce | Germany | 2013 | 2017 | Secondary | – |
DICTUMExited 2006
ConsumerGermany· Entry 2005
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Investment team
Senior partners. Hand-checked from public filings and the firm's own site.
Edin Hadzic
Founding Partner
Krischan von Moeller
Founding Partner
Marco Attolini
Partner
Christian Bettinger
Investment Team
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