05 Mar 2020
ICON Corporate Finance advises the shareholders of Paragon Software Systems, on its sale to US based Aptean, a global leader of mission-critical enterprise software solutions
Aptean, a global leader of mission-critical enterprise software solutions headquartered in the Alpharetta, Georgia, has acquired UK-based Paragon Software Systems, a market-leading provider of transportation management software solutions.
This acquisition furthers Aptean’s presence in the European market and adds purpose-built software designed to meet the expanding supply chain needs of its customers around the globe. With proven solutions that assist its customers with routing, logistics, scheduling, and home delivery, Paragon has seen strong growth in recent years due to the continuing rise in e-commerce and the rapidly expanding need for companies to support more timely and efficient deliveries.
Paragon’s solutions are already helping its more than 300 customers transform their delivery models, including many household-name brands in the food and beverage, retail, grocery, distribution and pharmaceutical sectors. With a reputation for exceptional customer satisfaction, Paragon has built a strong global presence now poised for further expansion under Aptean’s ownership.
“This is an exciting and strategic acquisition for Aptean as we continue to expand our solution offerings and footprint globally. We see numerous growth opportunities given Paragon’s strengths in route optimizing and home delivery capabilities. This acquisition progresses our company’s strategy of delivering world class solutions designed to assist our customers in effectively running their business from the production floor to delivery to the end user,” says TVN Reddy, CEO of Aptean.
"The opportunity to join Aptean, with its proven ability to drive exceptional growth and leadership in the industries we jointly serve, presents a great opportunity for the future of Paragon,” shares William Salter, Managing Director of Paragon. “In joining the Aptean family, we are excited by the opportunity to accelerate innovation, advance product development, expand geographically and tap into its best practice frameworks. We see this as a unique opportunity to more rapidly advance our success whilst also building increased value for our customers and growth opportunities for our employees."
Simon Moynagh, Partner at ICON Corporate Finance, the M&A advisors to Paragon commented, “We are delighted to have worked with the team at Paragon to secure this excellent result. Effective logistics and last mile delivery solutions have never been more important, and Paragon’s algorithms sit at the heart of the delivery of billions of pounds worth of goods. This is a very important transaction for the sector.”
Paragon’s shareholders were also advised by the corporate team at law firm Burges Salmon. Chris Godfrey, Partner at the firm said, “We are delighted to have worked closely with the shareholders of Paragon Software Systems and ICON Corporate Finance on this sale process from the very beginning. It has been a pleasure to see a great opportunity secured for the future of the company and to bring the sale to a successful close on time for the shareholders.”