Windjammer Capital Investors Announces Successful Sale of Paragon Energy Solutions to Mirion Technologies
Windjammer Capital Investors (“Windjammer”) has announced the successful completion of the sale of its portfolio company, Paragon Energy Solutions (“Paragon” or the “Company”), to Mirion Technologies, Inc. (NYSE: MIR, “Mirion”), a global leader in radiation detection and nuclear measurement solutions. This transaction marks an important milestone for both organizations and highlights the growing momentum in the nuclear energy sector as the world pushes toward cleaner and more secure energy systems.
Headquartered in Fort Worth, Texas, Paragon Energy Solutions has established itself as a premier provider of highly engineered components, systems, and technologies designed to support the safe and reliable operation of nuclear power facilities worldwide. The Company plays a mission-critical role across both the existing fleet of large commercial nuclear reactors and the emerging market for small modular reactors (SMRs)—a sector widely seen as central to the future expansion of carbon-free energy generation.
Paragon supplies a comprehensive suite of products and services essential for nuclear plant operation and regulatory compliance. These include advanced electrical systems, sophisticated sensors, power management technologies, instrumentation and control (I&C) solutions, HVAC systems, and a variety of mechanical flow components. Each product is specifically engineered to meet the rigorous technical requirements and safety standards demanded by the nuclear industry, where precision and reliability are paramount.
Strategic Transformation Under Windjammer’s Ownership
Windjammer acquired Paragon in November 2021 with a clearly defined vision: strengthen the Company’s commercial capabilities, broaden its product offerings, and strategically position it to capitalize on a once-in-a-generation rise in nuclear investment. In close collaboration with Paragon’s management team, Windjammer implemented several initiatives aimed at accelerating growth and enhancing operational readiness in a rapidly evolving energy landscape.
These initiatives included:
- Scaling the sales and distribution network to better serve nuclear operators across North America and beyond
- Expanding the product portfolio to match the needs of both aging reactor systems and modern plant upgrades
- Investing in innovation and advanced engineering, particularly solutions specifically designed to support next-generation SMR technologies
- Strengthening operational efficiencies to meet growing customer demand while maintaining strict quality controls
As public and private sector stakeholders increasingly recognize nuclear power as an essential tool in achieving climate goals, Paragon’s solutions have become more strategically valuable than ever. Its strong engineering foundation, coupled with ongoing innovation, has enabled Paragon to benefit from renewed global interest in nuclear deployment—including life-extension projects for existing plants and development efforts by leading SMR designers.
Windjammer believes these efforts have meaningfully advanced Paragon’s competitive positioning and helped establish the Company as a go-to provider in the expanding nuclear energy ecosystem. As a result, Paragon enters this new chapter with strong momentum, a robust customer base, and deep alignment with industry growth drivers.
Leadership Reflections on the Partnership
“Paragon exemplifies Windjammer’s partnership-driven investment approach,” said Rob Quandt, Managing Director at Windjammer. “From day one, we worked closely with the management team to set a strategy rooted in both industry needs and technological evolution—enhancing Paragon’s reach across the traditional nuclear fleet while ensuring the Company played a decisive role in the deployment of SMRs. Paragon’s engineering expertise, product capabilities, and commitment to safety and innovation have positioned the Company for a highly promising future. We believe Mirion is the ideal partner for the next phase of its journey.”
Paragon’s CEO, Douglas VanTassell, described the impact of Windjammer’s ownership as transformational. “The Windjammer team brought tremendous value to Paragon during an unprecedented time of growth in the nuclear industry—one that required targeted investments, agile decision-making, and the ability to execute on critical initiatives to support SMR readiness,” VanTassell said. “Their trust, collaboration, and support over the past four years have helped set the foundation for the success we are seeing today. We are excited about our future with Mirion, a company whose capabilities and global reach complement our mission.”
Jeff Miehe, Managing Principal at Windjammer, echoed these sentiments, emphasizing that Paragon represents the type of high-quality business the firm prioritizes. “Paragon is mission-critical, highly technical, and uniquely positioned within a rapidly expanding energy sector,” Miehe stated. “We recognized early that the Company had the engineering expertise, leadership, and market access necessary to meet the increasing demand for advanced nuclear power solutions. We are incredibly proud of the achievements accomplished under our partnership and confident that Paragon is poised for continued success as part of the Mirion family.”
Looking Toward the Next Phase of Growth
By joining Mirion Technologies, Paragon gains access to expanded global distribution channels, increased manufacturing and technological resources, and deeper market penetration—particularly in regions accelerating their transition to low-carbon energy systems. The alignment between the two companies is expected to unlock synergies in product development and create new opportunities to support safety, modernization, and innovation in nuclear operations.
As the nuclear industry experiences an unprecedented wave of investment—from government commitments to clean energy to commercial interest in SMRs and advanced reactors—Paragon stands ready to serve as a critical enabler of this energy shift.
With the sale now finalized, Windjammer departs the partnership with a strong track record of value creation and industry advancement, while Paragon embarks on an exciting new phase of growth under Mirion’s leadership. Both organizations express great optimism about the future and shared belief in the essential role nuclear energy will play in delivering reliable, resilient, and emissions-free power for decades to come.
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