Mirion Technologies To Buy Paragon Energy For $585 Mln In Cash; Mirion Up Over 7% In Pre-Market

(RTTNews) - Mirion Technologies, Inc. (MIR), a radiation detection solutions provider, said on Wednesday that it has inked a deal to acquire Paragon Energy Solutions, a provider of engineered solutions for the nuclear power industry, from Windjammer Capital Investors for around $585 million in cash.

Thomas Logan, CEO of Mirion, said: "The complementary capabilities of Mirion and Paragon will provide nuclear power customers with a more comprehensive suite of product offerings and services to meet their growing needs."

The acquisition, to be closed before year-end 2025, is expected to add to Mirion's earnings starting in the first full year post close. In addition, the acquisition is anticipated to generate annualized commercial and cost synergies of $10 million by year five.

This transaction is supported by a bridge facility. Permanent financing is expected to include a mix of equity, debt, or equity-linked financing.

For 2026, Paragon is expected to report around $150 million in revenue with 20% to 22% adjusted EBITDA margins.

MIR was up by 7.80% at $26.54 in the pre-market trade on the New York Stock Exchange.