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Sovereign Capital invests £15m in Paragon

publication date: May 1, 2008
author/source: Ed Tranham

Sovereign Capital has extended its presence in the government-funded work-based learning sector through the £15m acquisition of Paragon Education and Skills Limited from its founder-owner Adrian Humphries. Based in south-west England, Paragon delivers Train to Gain and Apprenticeship programmes across a range of sectors including marine, engineering, care and financial services. In its most recently filed accounts Paragon reported an operating profit of £420k for the year ending 31 July 2006. Paragon is Sovereign’s fifth acquisition in the work-based learning sector – its first was a £5m investment in Sencia. 

Recent events at Carter and Carter have not dampened Sovereign’s and others’ enthusiasm for this sector. Indeed C&C’s demise has led to conversations between the Association of Learning Providers and the LSC to review operating margins within the £500m Train to Gain programme.

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