A specialist Hull manufacturer is looking ahead with confidence having reached 50 years in business and secured major investment from an ambitious new owner.
Paragon Toolmaking was established in the city in 1969 and has become a world-leader in the design and manufacture of specialist press tools 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 many other countries, helping produce essential parts for some of the world’s best-known products and brands, from washing machines and boilers to cars including Jaguar, Aston Martin, Land Rover and Ford.
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.
Now, new owner Daniel Beaumont, an ACA-qualified accountant private investor who bought the business from previous owner the Pexion Group, feels the company can expand rapidly given its ability to help other companies innovate.
He ran the business for eight years and eventually led it through sale, and having targeted specialist and niche UK onshore manufacturing businesses to invest in, saw Paragon as the perfect opportunity.
Mr Beaumont has experience of managing a successful UK business and was the sixth generation of his family to run Lancashire-based Beaumont Textiles, taking over the reins from his father Bill – famous for captaining England and the British Lions rugby union teams, and now chairman of World Rugby.
“The manufacturing knowledge, expertise and skill in this business completely blew me away when I was first introduced to it last year, particularly in that the business is a problem-solver for others in the manufacturing and product production sectors,” he said.
“Having sold my family business I was very keen to invest in onshore UK manufacturing businesses.
“Quality British manufacturing is essential given the many possible implications associated with Brexit, and all the issues we have all collectively faced over the past 10 months. We have to be able to produce more as a nation and compete with the low cost of the Far East through our quality and value.
“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.”
Investment ideal at a time when British onshore manufacturing in demand
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 drive 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 managing directors and production managers want the very best machinery to help them develop the best products at maximum efficiency, and that is what we have done for UK manufacturers for 50 years, whether they need the most intricate or simple parts and products manufacturing, or the largest to smallest.
“Daniel recognised that Paragon is perfectly positioned to build upon the move back to onshore manufacturing as it is already a market leader in a niche market.
“We plan to build upon our strong reputation and expertise to expand the business in new and complementary sectors.”