January 18, 2012
LLR Partners led an investment in Paragon Technology Group, a leading provider of strategic technology solutions to the public sector. As part of the acquisition, LLR appointed Scott Friedlander as President and CEO of Paragon. Mr. Friedlander has more than 30 years of executive leadership experience in the IT industry, including key leadership positions at Xerox Corporation and GTSI Corp.
Paragon’s suite of services include IT systems engineering and application development, governance and PMO implementation and support, business intelligence and data management, enterprise modernization, and financial and quality management. As a profitable, privately-owned company, Paragon has been recognized as one of the top small businesses in the United States and one of the 50 fastest growing companies in the Washington, D.C., area. The investment and professional backing will allow the company to maintain its impressive growth rate and to enhance service offerings to new and existing customers.
Scott Friedlander, President and CEO of Paragon Technology Group, said, “Today’s announcement marks an exciting new chapter for Paragon’s strategic direction. The company has seen dramatic growth over the past five years and continues to build superior technical domain expertise. I am thrilled to be joining Gazelle, Sassan and the strong management team as we build the company for future growth. Partnering with LLR will provide us the capital and the expertise necessary to grow our core business and acquire complementary businesses that allow us to better serve our customers.” The McLean Group, LLC acted as Paragon Technology Group investment banking advisors for this transaction.
“We have been very impressed with Paragon’s growth,” said David Stienes, Partner at LLR. “Gazelle, Sassan and their team have focused on providing superior technical services with a demonstrable return on investment to their client base. Their domain expertise and commitment to quality has enabled them build a large base of loyal customers. We view Paragon as a platform that can continue to add additional service offerings and knowledge in order to better serve the public sector.”