Crescent Capital Group LP announced that its European Specialty Lending strategy has led the financing to support the acquisition of Paragin by ECI Partners from Main Capital Partners.
Headquartered in the Netherlands, Paragin provides exam and assessment software supporting high-stakes digital assessment workflows across the full learner lifecycle. Its integrated suite of cloud-based solutions serves vocational and higher education institutions, exam institutions, and commercial education providers. The company has built a leading position in the Benelux region’s digital exams and assessment software market through organic growth and acquisitions, including Sowiso, Coachview, and Xebic.
Paragin employs approximately 120 professionals and serves more than 1,250 end customers across over 20 countries in Europe and beyond. Its software underpins mission-critical assessment processes for millions of learners and professionals, supporting use cases ranging from formative and summative assessments to online admissions testing, professional and vocational examinations, as well as adjacent credentialing and learning workflows.
Crescent said the transaction reflects the continued strength of its sponsor relationships and its ability to provide flexible, tailored capital solutions aligned with strategic growth objectives. The firm manages approximately $50 billion in assets under management as of December 31, 2025, focusing on non-investment grade credit strategies across both public and private markets. Crescent operates globally with offices in Los Angeles, New York, Boston, Chicago, London, and Frankfurt, and is part of SLC Management, the institutional alternatives and traditional asset management business of Sun Life.
ECI Partners, a UK-headquartered mid-market private equity firm managing approximately £3 billion in funds, invests in growth-focused businesses valued up to £300 million, taking majority or minority positions. Over its 50-year history and more than 250 deals, ECI has partnered with management teams to scale operations, pursue M&A, expand into new markets, and enhance technology platforms.
Main Capital Partners, which is selling Paragin, is a software-focused private equity investor with approximately €7 billion in assets under management. Active across the Benelux, DACH, Nordics, France, and the United States, Main maintains a portfolio of more than 50 software companies employing over 15,000 people.
The financing is expected to support Paragin’s continued international expansion strategy under ECI’s ownership, building on its established market leadership in digital exams and assessment software.
KEY QUOTE:
“Paragin has established itself as a leading provider of essential assessment software, with a strong market position and clear opportunities for continued international expansion. We are pleased to partner once again with ECI Partners, with whom we have worked on a number of previous transactions, demonstrating the strength and depth of our sponsor relationships. We look forward to supporting Paragin’s next phase of growth and to provide flexible capital tailored to the company’s strategic objectives.”
Christine Vanden Beukel, Managing Director And Head Of Crescent’s European Specialty Lending Strategy, Crescent Capital Group LP
