Paradigm provides its workers’ compensation case management services to insurance companies and self-insured employers. The company was founded in 1991 and is headquartered near San Francisco in Walnut Creek, CA (www.paradigmcorp.com).
Paradigm has been a portfolio company of Lightyear since February 2012. “We are very pleased with the outcome of this investment in Paradigm,” said Donald Marron, Chairman and Founder of Lightyear. “Under Lightyear’s ownership, Paradigm’s management successfully positioned the firm for the future with strong revenue and EBITDA growth in the three years we have owned the business.”
Lightyear makes control investments in North America-based, middle-market financial services companies. Subsectors of specific interest include asset management, banking, brokerage, financial technology, insurance, and specialty finance. The firm is headquartered in New York (www.lycap.com).
“Our investment in Paradigm is a great case study of how Lightyear works with companies to develop and grow them,” said Mark Vassallo, Managing Partner of Lightyear. “Paradigm is well positioned to continue its growth and market leadership under new ownership.”
Summit Partners, the buyer of Paradigm, provides private equity and venture capital for growth companies. Founded in 1984, Summit has raised more than $16 billion in capital and has provided equity, recapitalization, and management buyout financing to more than 395 companies across a range of industries. The firm has offices in Boston, Palo Alto, London, and Mumbai (www.summitpartners.com).
2015 PEPD • Private Equity’s Leading News Magazine • 6-4-15