January 19, 2018
Trade Finance Solutions Inc. (“TFS”), a leading provider of domestic and international financing solutions for SME’s has today announced that its parent has acquired Paragon Financial Group Inc. (“Paragon”). Paragon is a leading invoice-based finance company providing working capital solutions for growing companies throughout the US and is based in Fort Lauderdale, Florida.
The terms of the acquisition will see these two recognized brands operate autonomously across multiple geographies while ensuring business continuity and strong client relationships. The goal of this transaction is to enable Paragon to take advantage of TFS’s resources, to continue its growth in the US marketplace, and to take Paragon to the next level.
TFS is in growth mode and seeks additional acquisitions. TFS’s parent also acquired New York based Gerber Finance in February 2017 and currently is in discussions with other potential specialty finance company targets.
Founded in 1994, Paragon serves entrepreneurs in all 50 US states through Non-Recourse Invoice Factoring, Purchase Order Funding, Accounts Receivable Management, and Credit Protection.
Jon Anselma, co-founder and Managing Partner and Chris Curtin, President, will continue to handle the day to day operations as well as the planning and implementation of the future growth plan.
Paragon’s Managing Partner, Jon Anselma commented: “We were seeking a partner that would allow our firm to service a larger client base and grow our portfolio. We decided to partner with TFS as we believe their focus on specialty finance complements the foundation our company was built on, factoring. This acquisition will ensure our continued growth at Paragon and, in turn, we will be able to bring our expertise and know-how to the TFS offering. Paragon’s strong presence in the US marketplace…