Spicers Ireland is described as “a leading wholesaler of office supplies”.

Joint provisional liquidators were appointed earlier this month after parent company Spicers Office Team (SPOT) went into administration.

According to a report in the Irish Times, 40-employee Spicers Ireland had been profitable but relied on its parent group for support services, including IT, so was unable to continue when the parent went into administration.

Paragon Group CEO Sean Shine said: “We are pleased to welcome Spicers Ireland to the Paragon Group. Spicers’ knowledge and prowess adds significant value to our growing range of Business Services in Ireland.”

Spicers Ireland will continue to be led by managing director Martin Everard.

On 14 May Paragon acquired the UK-based OfficeTeam and ZenOffice businesses out of administration.

Spicers Limited in the UK went into administration on the same day and ceased trading immediately, and a managed wind-down commenced.

Administrators Hunter Kelly and Charles King at EY said that shortly after their appointment, the ‘5 Star’ trademark and brand, and the Spicers stock, was sold to Paragon Data Analytics.