Paragon Toolmaking is looking ahead with confidence having surpassed 50 years in business and secured major investment from an ambitious new owner.
Established in the city in 1969, the business has become a leader in the design and manufacture of specialist press tools which are used in industries from aerospace and automotive to the construction, medical, food, pharmaceuticals and white goods sectors.
Its bespoke manufacturing tools are used in production machines on busy factory floors across the UK and in many other countries, helping produce essential parts used in some of the world’s best known products and brands.
With a long-serving and experienced team both in the boardroom and on the shop floor, the firm has many long-standing customers who repeatedly turn to it for its leading expertise.
But private investor and new owner Daniel Beaumont, an ACA qualified accountant who bought the business from previous owners the Pexion Group, feels it can reach many new customers given its ability to help other businesses innovate.
He had targeted specialist and niche UK onshore manufacturing businesses to invest in following the sale of his own family textile business, which he ran for eight years.
“The manufacturing knowledge, expertise and skill within this business completely blew me away when I was first introduced to it last year, particularly in that it is effectively a problem solver for others in the manufacturing and product production sectors,” he said.
“Having sold my family business last year I was very keen to invest in onshore UK manufacturing businesses, especially given the drive in the wake of Brexit and all that we have faced this year to produce more as a nation and compete with the Far East in manufacturing.
“I am not from a specialist toolmaking background at all but what I immediately saw in Paragon was expertise and knowledge which I know gives us a real competitive advantage in high value and complex manufacturing projects.
“As a company we offer the best British design and engineering, using innovative solutions to push the boundaries of press tool design, helping companies take products from concept right through design to manufacture. It is exciting to be involved.”
Kevin Batty, General Manager at Paragon Toolmaking, says he is confident the business will continue to thrive and grow given the new injection of investment and direction from Mr Beaumont.
“Daniel’s investment into the business comes at a perfect time given we are seeing a clear shift back to onshore manufacturing in the UK, especially with Brexit causing concerns over potential tariffs and other issues,” he said.
“Our long-term customers have always known and appreciated the huge value we can offer through our industry-leading expertise, our extensive toolmaking ability and our drive to deliver a product and service which does exactly as a client needs, as efficiently as possible.
“Both the managing directors and production managers of our clients want the very best machinery to help them develop the best products at maximum efficiency.
“That is what we have provided for manufacturers for 50 years, whether they need the most intricate or simple parts and products manufacturing, or largest to smallest.
“Daniel recognised that Paragon Toolmaking is perfectly positioned to build and take advantage of the current climate as we are already a market leader in what is a niche market.
“We plan to build upon our strong reputation and expertise to expand the business in new and complementary sectors, which Daniel is always working on in terms of strategy and business development.”