What investment strategy does Paragon Partners focus on?

Paragon Partners focuses on Buyout strategies in the private equity space.

How many portfolio companies does Paragon Partners have?

Paragon Partners has 12 active portfolio companies and 28 completed exits and 4 funds tracked on GP Intel.

Where is Paragon Partners headquartered?

Paragon Partners is headquartered in Munich, Germany.

What is Paragon Partners's assets under management?

Paragon Partners manages approximately €2.4B in assets under management.

When was Paragon Partners founded?

Paragon Partners was founded in 2004.

What sectors does Paragon Partners invest in?

Paragon Partners invests across Industrials, Business Services, Consumer, Software, Healthcare.

What are Paragon Partners's recent exits?

Recent realized exits by Paragon Partners include: cunova (2026) to KME Group; Primed (2026) to Inflexion; Asic Robotics (2026) to Renaissance Anlagestiftung; APONTIS PHARMA (2024) to Zentiva; Condecta (2024) to Swiss Life Asset Managers; UNICEPTA (2024) to Stagwell; chicco di caffe (2023) to WISAG Catering; WEMAS (2023) to Sekisui Jushi.

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Paragon Partners

Munich, Germany·Founded 2004·

Buyout

·paragon.de

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

vintages 2004–2023

Portfolio

Exits

Paragon Partners is a Munich buyout firm with €2.4B AUM, 12 active companies and 28 exits.

SectorsIndustrials Business Services Consumer Software Healthcare

Key takeaways

·10 exits in the last 5 years · consistent DPI cadence.
·Average hold across 28 realized deals: 4 years.
·Top sector focus: Industrials (38% of portfolio).
·Fund cadence: ~6Y between vintages · last raise 2023.

Sector breakdown

40 companies

Industrials

15 · 38%

Consumer

6 · 15%

Business Services

5 · 13%

E-commerce

2 · 5%

Software

2 · 5%

MedTech

2 · 5%

Logistics

2 · 5%

AdTech

1 · 3%

Geography breakdown

4 geographies

Germany

34 · 85%

Switzerland

4 · 10%

Italy

1 · 3%

France

1 · 3%

Key facts

HQMunich, Germany

Founded2004

Employees29+

Websiteparagon.de

Recent exits

Paragon Partners sold cunova to KME Group in 2026 after 4 years.

Paragon Partners sold Primed to Inflexion in 2026 after 3 years.

Paragon Partners sold Asic Robotics to Renaissance Anlagestiftung in 2026 after 8 years.

Paragon Partners sold Apontis Pharma to Zentiva in 2024 after 6 years.

Partners

Edin HadzicFounding Partner

Krischan von MoellerFounding Partner

Marco AttoliniPartner

Christian BettingerInvestment Team

Coverage notes

4 funds tracked, 40 portfolio companies (12 active · 28 realized). Verified weekly from public filings and deal announcements.

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

Funds & portfolio

Every fund Paragon Partners has raised, with its portfolio companies. Hand-checked from public filings.

4 funds

Fund

Strategy

Vintage

Size

Assets

Exits

Paragon Fund IV

Buyout2023€1.2B4 assets

Buyout

2023 · 3yr

€1.2B

–

Unrealized

4 held

Company	Entry
BALDUR-Garten E-commerce · Germany	2026
Dymatrix Software · Germany	2025
Schell Industrials · Germany	2025
TP Food Group Industrials · Italy	2024

Paragon Fund IIIHarvesting

Buyout2019€783M8 assets2 exits

Buyout

2019 · 7yr

€783M

Unrealized

8 held

Company	Entry
7days Consumer · Germany	2020
Castolin Eutectic Industrials · Germany	2020
DUO Plast Industrials · Germany	2019
DUO Plast AG Industrials · Germany	2019
pro optik Consumer · Germany	2019
Questel Software · France	2021
Sovendus AdTech · Germany	2021
WEKA Group Business Services · Germany	2020

Realized

2 exits

Company	Entry	Exit	Type	Buyer	MOIC
cunova Industrials · Germany	2022	2026	Trade Sale	KME Group	–
Primed MedTech · Germany	2023	2026	Secondary	Inflexion	–

Paragon Fund IIHarvesting

Buyout2014€412M0 assets9 exits

Buyout

2014 · 12yr

€412M

Realized

9 exits

Company	Entry	Exit	Type	Buyer	MOIC
Anti-Germ & Medentech Industrials · Germany	2015	2017	Trade Sale	Hypred	–
Apontis Pharma Pharma · Germany	2018	2024	Trade Sale	Zentiva	–
Asic Robotics Industrials · Switzerland	2018	2026	Secondary	Renaissance Anlagestiftung	–
chicco di caffe Business Services · Germany	2017	2023	Trade Sale	WISAG Catering	–
Condecta Business Services · Switzerland	2017	2024	Secondary	Swiss Life Asset Managers	–
inprotec Industrials · Germany	2018	2022	Trade Sale	International Chemical Investors Group	–
NovumIP LegalTech · Germany	2016	2021	Trade Sale	Questel	–
Unicepta Business Services · Germany	2018	2024	Trade Sale	Stagwell	–
Wemas Industrials · Germany	2017	2023	Trade Sale	Sekisui Jushi	–

Paragon IRealized

Buyout2004€200M0 assets17 exits

Buyout

2004 · 22yr

€200M

Realized

17 exits

Company	Entry	Exit	Type	Buyer	MOIC
Abl-technic Business Services · Germany	2007	2011	Secondary	Vision Capital / Rubicon Partners	–
AWG Fittings Industrials · Germany	2010	2016	Trade Sale	IDEX Corporation (LUKAS Hydraulik)	–
Dictum Consumer · Germany	2005	2006	MBO	Petra Steinberger and another shareholder	–
dtms Telecom · Germany	2014	2019	Trade Sale	net group	–
elero Industrials · Germany	2011	2015	Trade Sale	Nice	–
EOS Saunatechnik Consumer · Germany	2011	2013	MBO	Rainer Kunz and Michael Meis (management)	–
Europart Logistics · Germany	2011	2017	Secondary	Alpha Private Equity	–
KADI Consumer · Switzerland	2013	2019	Secondary	Invision	–
Kinshofer Industrials · Germany	2006	2007	Trade Sale	Lifco	–
MG Metallwarenfabrik Gemmingen Industrials · Germany	2008	2011	Secondary	Vision Capital / Rubicon Partners	–
PAKI Logistics Logistics · Germany	2005	2012	Trade Sale	Faber Halbertsma Group	–
POLO Motorrad Consumer · Germany	2012	2015	Secondary	Equistone Partners Europe	–
Rudolf Riester MedTech · Germany	2006	2007	Trade Sale	Halma	–
Schuelerhilfe Education · Germany	2009	2013	Secondary	Deutsche Beteiligungs AG	–
Stumpp+Schuele Industrials · Germany	2011	2012	Trade Sale	Lesjofors (Beijer Alma)	–
Swisshaus Construction · Switzerland	2006	2011	Secondary	Vision Capital / Rubicon Partners	–
Wer liefert was E-commerce · Germany	2013	2017	Secondary	Capvis	–

Frequently asked questions

What investment strategy does Paragon Partners focus on?: Paragon Partners focuses on Buyout strategies in the private equity space.
How many portfolio companies does Paragon Partners have?: Paragon Partners has 12 active portfolio companies and 28 completed exits and 4 funds tracked on GP Intel.
Where is Paragon Partners headquartered?: Paragon Partners is headquartered in Munich, Germany.
What is Paragon Partners's assets under management?: Paragon Partners manages approximately €2.4B in assets under management.
When was Paragon Partners founded?: Paragon Partners was founded in 2004.
What sectors does Paragon Partners invest in?: Paragon Partners invests across Industrials, Business Services, Consumer, Software, Healthcare.
What are Paragon Partners's recent exits?: Recent realized exits by Paragon Partners include: cunova (2026) to KME Group; Primed (2026) to Inflexion; Asic Robotics (2026) to Renaissance Anlagestiftung; APONTIS PHARMA (2024) to Zentiva; Condecta (2024) to Swiss Life Asset Managers; UNICEPTA (2024) to Stagwell; chicco di caffe (2023) to WISAG Catering; WEMAS (2023) to Sekisui Jushi.