The co-founder and managing director of a supported living and domiciliary care services provider is to expand the business after leading a management buy-out. Paula Woodruff has bought Paragon UK with the backing of ISIS Equity Partners.

The co-founder and managing director of a supported living and domiciliary care services provider is to expand the business after leading a management buy-out. Paula Woodruff has bought Paragon UK with the backing of ISIS Equity Partners.

Although the financial terms of the deal have not been disclosed, Woodruff received some £30 million to complete the buy-out and to fund bolt-on acquisitions. The package included debt provided by Yorkshire Bank.

ISIS director Pete Clarke declined to confirm how much the firm invested in the deal, but he did admit that it now holds a majority shareholding in the business.

Following the completion of the deal, Paragon’s co-founder Terry Haron has retired from the business with Woodruff remaining managing director.

Woodruff was advised by TMG Corporate Finance, law firm Brabners Chaffe Street and chartered accountant Cowgill Holloway. BDO Stoy Hayward and DLA Piper supported ISIS, which appointed KPMG to manage the financial due diligence with PwC handling the operations review.

Chorley-based Paragon supports more than 200 adults across the North West with a range of learning and physical disabilities as well as mental health needs. The company made a £1.4 million operating profit in the year to the end of March 2006.