GHP ADVISES PARAGON INTEL ON ITS MERGER WITH HERON INTELLIGENCE

August 2026 – Green Horizon Capital Partners (GHP) is delighted to announce that we served as exclusive financial advisor to Paragon Intel on its merger with Heron Intelligence, formerly Blue Heron Research Partners. The transaction has closed and financial terms were not disclosed. The combination creates the world's largest management insights provider, pairing Paragon Intel's ManagementTrack platform with Heron's two-decade archive of proprietary executive research. The combined company will operate as Heron Intelligence, with a research foundation of more than 80,000 proprietary interviews spanning over 5,000 public and private companies, and more than 250 investment firms relying on its intelligence and diligence capabilities.

Paragon Intel was founded by former buy-side investors to close a gap they had experienced firsthand: investors had access to growing volumes of data about companies, industries, transactions and consumer behavior, but almost no structured intelligence about the executives running those companies. The company built ManagementTrack, a management-first platform powered by a proprietary data engine drawing on 16 data set, including its proprietary Earnings Call Evasion Analysis, that helps asset managers and hedge funds evaluate executives and inform investment decisions.

"At a time when investors were seeking to measure every aspect of a company, there was almost no scalable data on the people actually running those companies," said Ty Popplewell, co-founder and former CEO of Paragon Intel and now president of ManagementTrack at Heron Intelligence. "We believed management should be its own institutional data category. By joining Heron Intelligence, we now have the research depth, proprietary information and scale to fully realize that vision."

"There is no better outcome for our clients than the combination of the two preeminent management diligence firms," said Colby Howard, co-founder and former president of Paragon Intel, who will serve as president of a new Heron Intelligence division, with additional details to be announced later this year.

This transaction builds upon GHP's strong position across the FinTech and Data & Analytics sectors. Other transactions completed by the GHP team include the sale of Moody's Regulatory Reporting & ALM Solutions to Regnology, the sale of Matterhorn Reporting to FE fundinfo, advising KOR on its Series B minority funding round led by Macquarie Capital Venture Capital, the sale of With Intelligence to Motive Partners, the sale of EPFR to Montagu, the sale of REDD to ISI Emerging Markets Group, the sale of Discovery Data to Institutional Shareholder Services, and the Inflexion-backed merger of Informa's Financial Benchmarking & Omnichannel Experience (FBX) business with Novantas to form Curinos.

ABOUT GHP

Green Horizon Partners is a boutique investment banking advisory firm focused on high-growth technology companies within the GRC&S and FinTech space. The firm provides strategic advice across M&A, fundraising, and capital markets, partnering with management teams and sponsors to deliver optimal outcomes. With deep sector knowledge and strong global investor relationships, Green Horizon Partners helps clients successfully navigate critical growth milestones.

For further information please contact Max Schramm, Jan Ripken, Chris Appaneal, Reed Spencer or visit https://greenhorizoncp.com/.