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NEWPORT BEACH - Private equity firm Windjammer Capital Investors has sold its portfolio company Paragon Energy Solutions to Mirion Technologies, Inc. (NYSE:MIR), according to a press release statement. Mirion, with a market capitalization of approximately $5.9 billion, has seen its shares surge 53% over the past year, significantly outperforming the broader market.
Fort Worth-based Paragon provides engineered solutions for nuclear power plants and small modular reactors (SMRs), including electrical components, sensors, instrumentation, and mechanical systems required for nuclear facilities to operate safely and meet regulatory standards.
Windjammer acquired Paragon in November 2021 and worked with the company to expand its product offerings for existing nuclear fleets while developing new products for SMRs. The investment firm supported strategic initiatives including sales channel investments and product development.
"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," said Rob Quandt, Managing Director at Windjammer.
Douglas VanTassell, CEO of Paragon, noted that Windjammer’s involvement came during "an unprecedented time of growth in the nuclear industry that required investments in the business to support SMR deployment."
Baird and Moelis & Company LLC served as financial advisors to Windjammer on the transaction, with Kirkland & Ellis providing legal counsel.
Windjammer Capital, based in Newport Beach, California and Waltham, Massachusetts, manages more than $3 billion in committed capital and has completed over 60 platform investments since its founding.
The financial terms of the transaction were not disclosed in the announcement.For Mirion Technologies, this acquisition comes as the company maintains a "GOOD" overall financial health score according to InvestingPro analysis. While Mirion trades at a high P/E ratio of 286 and appears overvalued based on InvestingPro’s Fair Value assessment, analysts expect net income growth this year. Investors seeking deeper insights into Mirion’s financials, including 14+ ProTips and comprehensive valuation metrics, can access the detailed Pro Research Report available on InvestingPro.
In other recent news, Mirion Technologies reported its Q3 2025 earnings, revealing an adjusted earnings per share (EPS) of $0.12, which exceeded the forecasted $0.10 by 20%. The company’s revenue for the quarter reached $223.1 million, slightly above expectations. Additionally, Mirion Technologies announced the completion of its acquisition of WCI-Gigawatt Intermediate Holdco, the indirect parent of Paragon Energy Solutions. This acquisition will integrate Paragon’s nuclear engineering capabilities with Mirion’s existing technology portfolio. Paragon Energy Solutions will be incorporated into Mirion’s Nuclear & Safety Group. While specific financial details of the acquisition were not disclosed, the move is expected to create a more comprehensive suite of solutions for the nuclear power sector. These developments highlight Mirion Technologies’ strategic efforts to expand its capabilities and enhance its market position.
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