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Paragon Entertainment Acquire The Visitor Attraction Company (TVAC)


Paragon Entertainment Ltd, the holding company for Paragon Creative Limited, has announced the acquisition of The Visitor Attraction Company (TVAC).

Related: Paragon Creative Profile / Museums and Heritage: Interview with Colin Pyrah, founder Paragon Creative / Paragon Creative News: Istanbul Aquarium, The Deep, The Tower of London, Rebuilding the Titanic and Ripleys 

 Paragon Entertainment Acquire The Visitor Attraction Company (TVAC)Paragon Creative, themed environment and interactives specialists for the visitor attraction industry, have acquired TVAC for a maximum consideration of £300, 000. 

The terms of the acquisition allow for the consideration to be met by the issue of 2, 317, 497 ordinary shares on completion and up to a maximum of 1, 158, 750 ordinary shares on the first anniversary of the acquisition subject to certain performance criteria being met.

Paragon Entertainment Ltd has been listed on London’s Alternative Investment Market since December 2009.  Application has been made for 2, 317, 497 new ordinary shares of 0.1p each to be admitted and it is expected that dealings in the new shares will commence today. The issued share capital of the Company will be 161, 680, 550 ordinary shares following listing.

The acquisition of TVAC fits Paragon’s long term strategy to expand through acquisitions and organic growth in order to cover more of the value chain in the visitor attractions industry.

TVAC provides strategic development, operating and project management services to the visitor attractions industry.  Projects include The London Olympic Legacy, The British Olympic Experience, Skyvue (Las Vegas, USA) and the Lisbon Story Centre.  Formed in 2010, TVAC’s experience in the development and operation of leisure attractions is a good strategic fit with Paragon’s wide array of services ranging from concept design and production to operation and development of themed attractions.

The acquisition of TVAC allows Paragon to widen the range of services offered to customers in house, and to expand into new markets.

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