Mirion Completes Strategic Acquisition of Paragon Energy Solutions, Strengthening Nuclear Technology Leadership
Mirion (NYSE: MIR), a global leader in radiation detection, measurement, analysis, and monitoring solutions serving the nuclear, medical, defense, and research sectors, today announced the successful completion of its acquisition of Paragon Energy Solutions (“Paragon”), a premier provider of highly engineered solutions for the nuclear power industry. The acquisition marks a significant milestone for Mirion, reinforcing its position as a key enabler of advanced nuclear technology and integrated solutions across the U.S. and global markets. Paragon will now operate as part of the Mirion Nuclear & Safety Group, aligning its expertise with Mirion’s extensive nuclear technology portfolio.
Enhancing Capabilities Across the Nuclear Power Industry
The integration of Paragon’s engineering capabilities, specialized product offerings, and technical talent complements Mirion’s existing nuclear solutions, creating a comprehensive suite of services tailored for the evolving demands of the nuclear power sector. This acquisition positions Mirion to provide end-to-end solutions across both the existing nuclear fleet and emerging small modular reactor (SMR) market, combining advanced radiation monitoring, digital instrumentation and control (I&C) systems, regulatory engagement, and engineered safety solutions.
Thomas Logan, Mirion Chairman and Chief Executive Officer, emphasized the strategic significance of the acquisition:
“The addition of Paragon significantly enhances our presence in the U.S. nuclear power market at a generational inflection point for sector growth. Paragon’s brand equity, complementary product portfolio, and best-in-class talent will augment our capabilities – strengthening our value proposition and right-to-win with nuclear power customers. We welcome the Paragon team and look forward to a bright future together.”
This acquisition comes at a time when the nuclear industry is undergoing substantial transformation. Aging reactor fleets require modernization and lifecycle extension, while new reactors, including SMRs, are under development to meet increasing clean energy demands. Mirion’s strengthened portfolio now provides nuclear operators with critical tools and technologies to ensure operational safety, efficiency, and regulatory compliance.
Paragon’s Perspective on the Partnership
Doug VanTassell, Paragon President and Chief Executive Officer, highlighted the synergies created by the merger:
“Bringing Mirion and Paragon together creates a new center of gravity for nuclear technology. By uniting advanced radiation monitoring, digital I&C, regulatory engagement, and engineered safety systems, we are helping the nuclear industry extend the life of the existing fleet and accelerate the arrival of the next generation of reactors.”
Paragon’s team of over 100 highly skilled engineering professionals brings decades of specialized experience in nuclear systems, safety instrumentation, and operational support. Their deep knowledge of reactor operations and regulatory requirements significantly enhances Mirion’s technical capabilities, enabling the combined organization to deliver innovative, fully integrated solutions to nuclear operators worldwide.
Strategic Benefits of the Acquisition
The integration of Paragon into Mirion provides several strategic advantages, including:
- Expanded Talent and Expertise: Paragon’s engineering team complements Mirion’s existing workforce, creating one of the most robust talent pools in the nuclear technology sector. This collaboration ensures the combined company can tackle complex engineering challenges and deliver innovative solutions efficiently.
- Comprehensive Nuclear Solutions: Customers now have access to a full suite of services, including advanced radiation monitoring, engineered safety systems, digital reactor protection, and value-added parts distribution. This end-to-end capability positions Mirion as a single trusted partner for both existing nuclear operations and next-generation reactor development.
- Strengthened U.S. Nuclear Partnerships: Paragon’s solutions are currently present in all nuclear reactors across North America. The acquisition consolidates Mirion’s footprint in the U.S. nuclear market, enhancing its relationships with key operators and regulators.
- Support for the SMR Market: The combined capabilities of Mirion and Paragon provide the nuclear industry with critical support for the emerging SMR sector, offering advanced monitoring and control systems that meet the high safety and reliability standards demanded by modern reactors.
- Innovation and Regulatory Engagement: The merger enhances Mirion’s ability to engage with regulators and develop solutions that adhere to evolving safety standards, ensuring that nuclear operators remain compliant while optimizing plant performance.
Outlook for the Future
With this acquisition, Mirion is well-positioned to capitalize on the opportunities in the U.S. and global nuclear markets. The company expects the combined capabilities to accelerate the adoption of advanced nuclear technologies and strengthen its competitive advantage across the full spectrum of nuclear power solutions.
The nuclear industry faces an unprecedented period of change, including reactor life extension, modernization projects, and the introduction of advanced reactor designs. Mirion and Paragon together are prepared to address these challenges by delivering high-quality, integrated solutions that drive safety, efficiency, and sustainability in the nuclear power sector.
Thomas Logan concluded:
“The nuclear power industry is entering a transformative era, and the integration of Paragon positions Mirion to lead the way. Together, we will continue to innovate, deliver exceptional value to our customers, and support the safe, efficient, and sustainable operation of nuclear power facilities across North America and beyond.”
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