Mirion Technologies Announces Acquisition of Paragon Energy Solutions

Mirion Technologies has acquired Paragon Energy Solutions. The deal was announced via a press release. Mirion's Chairman and CEO, Tom Logan, and CFO and Medical Group President, Brian Schopfer, will discuss the acquisition on a conference call. The acquisition is expected to expand Mirion's portfolio and strengthen its position in the market.

Mirion Technologies, Inc. (NYSE: MIR) has entered into a definitive agreement to acquire Paragon Energy Solutions, LLC from Windjammer Capital Investors LLC for approximately $585 million in cash. The deal, announced on Wednesday, is expected to broaden Mirion's portfolio of offerings for nuclear power customers, including Small Modular Reactors (SMRs), and is anticipated to be accretive to diluted EPS within the first full year post-acquisition Mirion Technologies' stock gains on deal to acquire Paragon Energy Solutions for $585 million^[2].

The acquisition is supported by a fully committed bridge facility from Goldman Sachs Lending Partners LLC, totaling $585 million in incremental term loan commitments Mirion Technologies, Inc. entered into a definitive agreement to acquire Paragon Energy Solutions, LLC from Windjammer Capital Investors LLC for approximately $590 million.^[1]. The closing of the transaction is subject to customary conditions, including regulatory approvals and compliance with various agreements Mirion Technologies, Inc. entered into a definitive agreement to acquire Paragon Energy Solutions, LLC from Windjammer Capital Investors LLC for approximately $590 million.^[1].

Mirion's Chairman and CEO, Tom Logan, and CFO and Medical Group President, Brian Schopfer, will discuss the acquisition on a conference call scheduled for September 24, 2025. The acquisition aims to enhance Mirion's position in the U.S. nuclear power segment, strengthen its relationships with key SMR players, and broaden the solutions offered to international nuclear customers Mirion Technologies, Inc. (MIR) M&A Call Transcript^[3].

Paragon Energy Solutions brings a strong presence in the North American nuclear market, serving 140-plus nuclear reactors around the world. The acquisition will add critical systems technology to Mirion's product portfolio, including the Reactor Protection System (RPS) technology, which is designed to automatically shut down the reactor and initiate safety protocols if hazardous conditions are detected. Paragon's RPS system, called HIPS, is the only modern RPS designed specifically to meet the unique needs of SMRs and the only new design approved by the U.S. NRC in the last decade Mirion Technologies, Inc. (MIR) M&A Call Transcript^[3].

The deal is expected to double Mirion's potential SMR-related revenue in the future and sets the company up for accelerated growth as the SMR fleet gains scale. It is estimated that U.S. SMR capacity could total 6 to 10 gigawatts by 2040, implying approximately 20 SMR reactors in process or completed by 2030 Mirion Technologies, Inc. (MIR) M&A Call Transcript^[3].

The acquisition is expected to close before the end of 2025 and is anticipated to be accretive to diluted EPS in the first full year post-close Mirion Technologies, Inc. entered into a definitive agreement to acquire Paragon Energy Solutions, LLC from Windjammer Capital Investors LLC for approximately $590 million.^[1]. Goldman Sachs & Co. LLC acted as financial advisor for Mirion Technologies, Inc., while Davis Polk & Wardwell LLP acted as legal advisor. Robert W. Baird & Co. Incorporated and Moelis & Company acted as financial advisors for Paragon Energy Solutions, LLC. Kirkland & Ellis LLP acted as legal advisor for Paragon Energy Solutions, LLC Mirion Technologies, Inc. entered into a definitive agreement to acquire Paragon Energy Solutions, LLC from Windjammer Capital Investors LLC for approximately $590 million.^[1].