Deal Details

Paragon Is Acquired by Mirion

Technology & Services

Paragon, a portfolio company of Windjammer, acquisition by Mirion

Summary

Paragon Energy Solutions (“Paragon”), a portfolio company of Windjammer Capital Investors (“Windjammer Capital” or "Windjammer"), has recently signed definitive documentation to be acquired by Mirion Technologies (“Mirion”). The transaction is subject to various regulatory approvals and customary closing conditions.

Baird served as the lead financial advisor to Paragon on this transaction.

About

Paragon offers an industry leading portfolio of application-specific critical nuclear systems that support both the operating nuclear fleet and the next generation of SMR projects. Areas of expertise include commercial grade dedication and qualification of nuclear parts, testing and inspection and value-add distribution via a proprietary platform. With 20,000+ proprietary parts and 100+ skilled engineering professionals, Paragon systems and solutions are present in 100% of nuclear reactors in North America. As a U.S.-owned supplier of approved digital Reactor Protection Systems, in the last decade, Paragon has delivered differentiated value for both existing fleet digital upgrades and SMR OEMs. Paragon is headquartered in Fort Worth, Texas.

Windjammer Capital is a national private equity investment firm that invests control equity in middle-market businesses and in partnership with management. Windjammer has more than $3 billion of committed capital with respect to its control equity investment strategy, and since inception has completed more than 60 platform investments and more than 200 strategic add-ons. The firm targets investments in companies that are leaders in attractive niche markets and share several of the following characteristics: significant and defensible market positions; differentiated products and services; strong management teams; scalable business models; identifiable growth opportunities; and consistent financial performance. Windjammer is based in Newport Beach, California and Waltham, Massachusetts.

Mirion is a global leader in radiation safety, science and medicine, empowering innovations that deliver vital protection while harnessing the transformative potential of ionizing radiation across a diversity of end markets. The Mirion Nuclear & Safety group provides proven radiation safety technologies that operate with precision – for essential work within R&D labs, critical nuclear facilities and on the front lines. The Mirion Medical group solutions help enhance the delivery and ensure safety in healthcare, powering the fields of Nuclear Medicine, Radiation Therapy QA, Occupational Dosimetry and Diagnostic Imaging. The firm employs 2,800 people and operates in 12 countries. Mirion is headquartered in Atlanta, Georgia.

Technology & Services

Paragon, a portfolio company of Windjammer, acquisition by Mirion