The Hoped for Revival and the Reality

In the first part of this article, The EAGLE mentioned that when AB Dick was acquired by Paragon it had $300 MM in sales. With the later addition of ailing Multigraphics, itself still doing $100 MM in sales, the 1997 acquisition of AB Dick by Paragon was viewed by the industry at the time as a possible revival for the ailing but still famous industry icon. The new owner, Paragon Corporate Holdings, was created solely to buy AB Dick.

Paragon Corporate Holdings is owned by NESCO, a private company based in Cleveland that owns some 23 companies. The holding company's operations include industrial equipment manufacturing, real estate investment, and staffing services. NESCO's industrial group includes material handlers Continental Conveyor and Goodman Conveyor (bulk conveyor equipment). Other industrial group companies include ACC Automation, which makes dip-molding equipment for manufacturing everything from rubber gloves to condoms, Penn Station (copper/aluminum electrical connectors), NESCO Service Co. (staffing), and Rogers Company (trade show exhibits).