WAYNE, Pa., Dec. 3, 2021 /PRNewswire/ -- Argosy Private Equity, a lower middle market private equity firm, today announced the sale of Paragon Energy Solutions, LLC to Windjammer Capital, a middle-market private equity firm.
Originally formed in 2000 to provide supply chain management services to Exelon, Paragon Energy Solutions now provides procurement management services for safety-related parts and components for the U.S. commercial nuclear industry. Paragon operates three business segments: Commercial Grade Dedication ("CGD"), Nuclear Inventory Management System, and Instrumentation and Controls. Through these segments, the Company provides a comprehensive and value-oriented services platform supporting nuclear power plant operation and maintenance.
Argosy acquired Paragon in August 2017 and immediately began to implement its Value Acceleration Methodology ("VAM™"), leveraging the CEO, Doug VanTassell, and the Company's experience to further penetrate existing markets and expand into new industry verticals. As a result of these efforts, in February 2020, Paragon acquired Nuclear Logistics, LLC ("NLI") to expand its service offering within the CGD vertical.
"Paragon's customer driven management team, led by two-time Argosy portfolio company CEO, Doug VanTassell, transformed a niche procurement services business that services the nuclear power industry into a dominant force in the sector. Over the last four years, Paragon has added the capabilities, expertise and intellectual property to help 1) the existing fleet safely reduce costs and 2) make the next generation of nuclear power plants become a reality over the coming years," said Keven Shanahan, Partner, Argosy Private Equity.
"Argosy has been an incredible, trusted partner and much of my success and Paragon's success is due to Keven Shanahan and Lane Wiggers. Paragon and my former company, AP Services, used Argosy's VAM tools to help us develop our strategic plan which drove higher revenue, operational excellence and financial performance. Keven and Lane have not only been great partners, but great friends and have made the journey both fun and profitable for everyone," said Doug VanTassell, CEO, Paragon Energy Solutions.
About Argosy Private Equity
Argosy Private Equity, founded in 1990, specializes in providing capital and operating and financial expertise to lower middle market companies across a broad range of industries. Argosy partners with motivated management teams investing in companies with sustainable competitive advantages and attractive growth prospects. Argosy Private Equity is a division of Argosy Capital Group, Inc. ("Argosy Capital") together with Argosy Real Estate Partners, Argosy Credit Partners, Argosy Strategic Partners and Argosy Healthcare Partners. Argosy Capital is an investment adviser with approximately $2.3 billion of assets under management. All of the Argosy Capital funds focus on lower middle market investment strategies.
For further information, please visit: Argosy Capital: www.argosycapital.com
Argosy Private Equity
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