NEWPORT BEACH, Calif. & WALTHAM, Mass.–(BUSINESS WIRE)–Windjammer Capital Investors (“Windjammer”) is pleased to announce the sale of its portfolio company Paragon Energy Solutions (“Paragon” or the “Company”) to Mirion Technologies, Inc. (NYSE: MIR, “Mirion”).
Based in Fort Worth, Texas, Paragon is a leading provider of highly engineered solutions for large-scale nuclear power plants and small modular reactors (“SMRs”). The Company provides a wide range of products including electrical, sensor, power management, instrumentation and controls, HVAC, mechanical and flow components that are necessary for nuclear power facilities to operate safely and in accordance with strict regulatory standards.
Since acquiring Paragon in November 2021, Windjammer partnered with the Company to set strategic priorities and support key initiatives, including investments in the sales channel, expansion of product set offerings for the current nuclear operating fleet, and new product development to support Small Modular Reactors. We believe these efforts helped drive meaningful growth and positioned Paragon for high long-term growth in the increasingly attractive nuclear power solutions sector.
“Paragon exemplifies Windjammer’s partnership-driven investment approach,” said Rob Quandt, Managing Director at Windjammer. “From the outset, we aligned with management around a clear strategy—expanding the Company’s reach within the traditional nuclear fleet while advancing technologies that support the rapidly emerging SMR ecosystem. Paragon’s engineering capabilities, product portfolio, and commitment to innovation have positioned the Company for continued success. We are confident Paragon will continue to thrive under Mirion’s ownership and look forward to watching their next chapter of growth.”
“The Windjammer team brought tremendous value to Paragon during an unprecedented time of growth in the nuclear industry that required investments in the business to support SMR deployment, agile strategic planning, and key acquisitions. This would not have been possible without the trust and collaboration of the Paragon and Windjammer teams over the past four years,” said Douglas VanTassell, CEO of Paragon.
Jeff Miehe, Managing Principal at Windjammer added, “Paragon is a clear example of the type of business we seek to invest in—mission-critical, highly technical, and positioned to lead in a rapidly evolving industry. We identified early that Paragon had the capabilities, culture, and market position to capitalize on the accelerating demand for next-generation nuclear solutions. We are proud of what has been accomplished, and confident Paragon is well-positioned for continued success as part of Mirion.”
Please contact Rob Quandt ([email protected]) or Jeff Miehe ([email protected]) with any inquiries.
Baird and Moelis & Company LLC acted as financial advisors to Windjammer, and Kirkland & Ellis provided legal counsel.
About Windjammer
Windjammer Capital is a national private equity investment firm based in Newport Beach, CA and Waltham, MA 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. To learn more, visit windjammercapital.com.
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Dan Abramson
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