Mirion ("we" or the "company") (NYSE:MIR), a global provider of radiation detection, measurement, analysis, and monitoring solutions to the nuclear, medical, defense, and research end markets, has entered into a definitive agreement to acquire Paragon Energy Solutions ("Paragon"), one of the leading providers of highly engineered solutions for the nuclear power industry, from Windjammer Capital Investors for approximately $585 million in cash.

Paragon is expected to generate approximately $150 million of revenue in 2026 with 20% - 22% Adjusted EBITDA margins. The purchase price represents approximately 18x Paragon's expected 2026E Adjusted EBITDA.

The acquisition is anticipated to be accretive to diluted EPS in the first full year post close. Additionally, the acquisition is anticipated to generate attractive annualized commercial and cost synergies of $10 million by year five.