World-leading toolmaker is bought by son of rugby great
A SPECIALIST Hull manufacturer is gearing up for growth after securing investment from a new owner.
Paragon Toolmaking was established in 1969 and has become a world-leader in the design and manufacture of specialist press tools used in industries ranging from aerospace and automotive to the construction, medical, food, pharmaceuticals and white goods sectors.
Its bespoke manufacturing tools are used in production machines on factory floors across the UK and other countries.
The tools help to 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.
The new owner Daniel Beaumont, an ACA qualified accountant private investor who bought the business from previous owners the Pexion Group, plans to help the company grow.
A spokesman said: “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.
Daniel Beaumont said: “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.
“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.”