Stout advised Paragon Medical on the sale of two plastics manufacturing facilities located in East Providence, RI, and Wallingford, CT, to Clayens NP Group, a portfolio company of One Equity Partners. Stout served as exclusive sell-side financial advisor to Paragon Medical in connection with the transaction.

With 12 manufacturing locations globally, Paragon Medical partners with medical manufacturers to help accelerate new product development with medical device and high-precision components for everything from implants and surgical instrumentation to single-use disposable devices and assemblies.

Paragon’s East Providence, RI, and Wallingford, CT, facilities are ISO 9001 and 13485 certified manufacturers of specialty plastic components for a broad range of applications serving a variety of end markets, including precision industrial, fluid management, electronics, and aerospace and defense, among others. The divested facilities offer a unique array of plastic molding and fabrication services for low-to-mid volume programs, including precision injection molding, micro molding, plastic optics molding, reel-to-reel molding, precision machining, plastic milling, polishing, annealing, and other post-production, value-added services.

“We have enjoyed working with the management teams in East Providence and Wallingford and are excited about the future and growth potential for these two operations as they join the Clayens organization,” said Wil Boren, CEO of Paragon Medical.

David Evatz, Managing Director at Stout who led the transaction, added, “The East Providence and Wallingford operations have a long history in the manufacture of highly technical, precision plastic components and bring complementary products, capabilities, and customers to Clayens. It was a pleasure working with the Paragon Medical team on this transaction.”

Stout’s Tyler Skarstein, Adam Lewis, Paul Graham, and Su Peng Lin also led in the execution of the transaction.

Hunton Andrews Kurth LLP served as legal counsel to Paragon Medical. Freshfields Bruckhaus Deringer LLP acted as deal counsel to Clayens NP Group.

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