The attraction design, production and fit-out business has been purchased by Marwyn Capital II Ltd and relisted on AIM.
Langleys Solicitors LLP corporate partners James Towler and Andy Kay advised Paragon on the deal. DLA Piper advised Marwyn Capital.
The deal has been financed with cash and the proceeds of placing of a further 62.5 million new ordinary shares in Marwyn Capital II.
As part of the transaction, a newly-appointed management team has been put in place with Robert Hersov becoming non-executive Chairman and Mark Pyrah leading the enlarged group as its Chief Executive.
James Towler, who oversaw the deal on behalf of Paragon Creative, said: “This is a fantastic opportunity for Paragon Creative to grow and take advantage of the backing that Marwyn provides.”