NEW YORK and BROKEN ARROW, Okla., Oct. 13, 2026 (GLOBE NEWSWIRE) — Atlantic Ridge Capital (“Atlantic Ridge”), a private equity firm focused on building up high-quality industrial technology businesses, has agreed to acquire Paragon Films (“Paragon” or “the Company”), the leading manufacturer of proprietary, ultra-high-performance stretch films, for approximately $900 million. The transaction is in partnership with Paragon’s management team and Grafine Partners, a significant investment partner in the transaction and an original backer of Atlantic Ridge at its formation. It is expected to close in the fourth quarter of 2026, subject to customary closing conditions.

Founded by veteran investor Eytan Tigay, Atlantic Ridge leverages its world-class operating resources to scale, improve and modernize high-quality industrial technology companies with exceptional management teams. Paragon marks Atlantic Ridge’s debut investment, and ranks among the largest transactions ever made by a newly launched private equity firm.

Paragon, founded in 1988 and headquartered in Broken Arrow, Oklahoma, manufactures technologically advanced films used to secure and protect products during storage and transit. Its proprietary formulations and manufacturing processes allow customers to achieve superior load containment with thinner-gauge films. The Company’s Thinner. Stronger. Greener.® approach combines product performance with 20% to 30% cost savings while using 20% to 40% less film, reducing material use and waste for customers. The Company serves more than 20,000 end users in the resilient and growing food and beverage, consumer products, e-commerce, retail and industrial end-markets.

Led by Chief Executive Officer Darin Tang, Paragon’s experienced and long-tenured management team has driven substantial growth and product innovation for more than a decade. Most recently, Paragon extended its downgauging technology into shrink film, opening up large adjacent markets, as it continues to invest actively in next-generation films.

“We have known Paragon and Darin for years and are excited to support his team and bring our experience and operational resources to bear as the company continues to grow,” said Mr. Tigay. “Paragon is the ideal inaugural investment for Atlantic Ridge and exemplifies the strategy we founded the firm to pursue: partnering with exceptional management teams to scale, improve and modernize high-quality industrial technology businesses.”

“Atlantic Ridge’s principals bring deep experience in helping industrial technology companies scale, together with a practical suite of operational expertise and resources,” said Mr. Tang. “They share our ambition to extend Paragon’s leadership in innovation and customer value. Their partnership will help us accelerate product development in our core stretch film business and in thin-gauge shrink film as well as expand into new product categories, broaden our PCR-based offering, invest in AI and automation to strengthen our capabilities, and pursue acquisitions that bring Paragon’s technology to new geographies.”

UBS Investment Bank, BMO Capital Markets Corp., and Santander Corporate & Investment Banking provided committed debt financing for the transaction. BMO and Santander also served as financial advisors to Atlantic Ridge Capital.

About Atlantic Ridge Capital

Founded by industry veteran Eytan Tigay, Atlantic Ridge Capital is a New York-based private equity firm focused on high-quality middle-market businesses, primarily within the industrial technology sector. The firm seeks companies with differentiated competitive positions and attractive long-term growth drivers. Working with proven management teams, Atlantic Ridge applies a systematic approach to business building, bringing operational resources, including advanced digital and artificial intelligence capabilities, to scale, improve and modernize their businesses. For more information, visit www.atlanticridgecapital.com.

About Paragon Films

Founded in 1988 and headquartered in Broken Arrow, Oklahoma, Paragon Films is a leader in ultra-high-performance stretch film focused on advancing sustainability through innovation. Sustainability Without Sacrifice™ reflects its approach to designing films that balance durability and cost-effective packaging while helping customers achieve their sustainability goals. Learn more at www.paragonfilms.com.

Media Contacts

Atlantic Ridge Capital

Zach Kouwe/Jansel Murad

Dukas Linden Public Relations

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