Mirion to Acquire Nuclear Power Industry Engineering Firm Paragon Energy Solutions for $585 Million
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Mirion has entered into a definitive agreement to acquire Paragon Energy Solutions, one of the leading providers of highly engineered solutions for the nuclear power industry, from Windjammer Capital Investors for approximately $585 million in cash.
“I look forward to welcoming Paragon to the Mirion family. Our agreement to acquire Paragon will build on our commitment to the detection, measurement, and analysis of ionizing radiation. The complementary capabilities of Mirion and Paragon will provide nuclear power customers with a more comprehensive suite of product offerings and services to meet their growing needs, just as public and private support for the industry accelerates,” said Mirion’s Chairman and Chief Executive Officer, Thomas Logan.
“Further, Mirion’s global reach provides the opportunity to expand Paragon’s portfolio worldwide. This transaction will create a best-in-class global supplier to the nuclear renaissance underway and enhance the customer experience,” added Logan.
“Like Paragon, Mirion is focused on providing high quality, innovative products to support the current nuclear operating fleet and the next generation of SMRs. Together, this transaction strengthens the nuclear global supply chain needed to upgrade the operating fleet and bring the next generation of SMRs on-line,” said Paragon’s President and Chief Executive Officer, Doug VanTassell.
Operating out of Fort Worth, Texas, 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 percent 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.
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. Headquartered in Atlanta, Georgia, Mirion employs approximately 2,800 people and operates in 12 countries.
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