Mirion Completes Acquisition of Paragon Energy Solutions

• Provides nuclear power customers with a more comprehensive suite of product offerings and services to meet growing needs
• Elevates Mirion’s standing as a top-tier global supplier to the nuclear power sector
• Advances the Mirion commitment to broadening its portfolio of offerings for large-scale nuclear reactors and SMRs

ATLANTA--(BUSINESS WIRE)--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, today announced it has completed its acquisition of Paragon Energy Solutions (“Paragon”), one of the leading providers of highly engineered solutions for the nuclear power industry. The closing of the acquisition integrates Paragon’s nuclear-industry engineering capabilities and complementary offerings with the nuclear technology portfolio and global reach of Mirion, establishing a comprehensive suite of solutions for the evolving nuclear power industry. Paragon will integrate into the Mirion Nuclear & Safety Group.

“The addition of Paragon significantly enhances our presence in the U.S. nuclear power market at a generational inflection point for sector growth,” commented Thomas Logan, Mirion Chairman and Chief Executive Officer. “Paragon’s brand equity, complementary product portfolio, and best-in-class talent will augment our capabilities – strengthening our value proposition and right-to-win with nuclear power customers. We welcome the Paragon team and look forward to a bright future together.”

“Bringing Mirion and Paragon together creates a new center of gravity for nuclear technology,” said Doug VanTassell, Paragon President and Chief Executive Officer. “By uniting advanced radiation monitoring, digital I&C, regulatory engagement and engineered safety systems, we are helping the nuclear industry extend the life of the existing fleet and accelerate the arrival of the next generation of reactors.”

The acquisition significantly enhances the Mirion portfolio by:

• Integrating Paragon’s more than 100 skilled engineering professionals with the foundation of best-in-class talent at Mirion.
• Delivering access to critical nuclear systems, end-to-end solutions, digital reactor protection systems and value-add parts distribution to both the current nuclear fleet and the emerging SMR market – all under one partner.
• Broadening Mirion’s US-based nuclear partnerships, with Paragon’s systems and solutions being present in 100% of nuclear reactors in North America.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements relating to: the acquisition of Paragon by Mirion; future financial and operating results of Paragon and Mirion; the benefits of the transaction and future opportunities for the combined company, including the benefits Mirion’s customers may realize as a result of integrating Paragon’s business into Mirion’s; the annualized commercial and cost synergies expected to be generated by the combined company; Paragon’s estimated revenue and adjusted EBITDA for fiscal 2026; and any assumptions underlying any of the foregoing. These forward-looking statements are based on various assumptions and on the current expectations of Miron’s management. These statements involve risks and uncertainties that could cause the actual results to differ materially from those anticipated by these forward-looking statements, including: the ability of Mirion to successfully integrate Paragon’s operations and employees; unexpected costs, charges or expenses resulting from the transaction; Mirion’s ability to successfully grow its or Paragon’s business; potential adverse reactions or changes to business relationships resulting from the completion of the transaction; the retention of key employees, customers or suppliers; and legislative, regulatory and economic developments, including changing business conditions in Mirion’s industry or markets overall and the economy in general. Other risks and uncertainties related to Mirion, some of which that could cause actual results to differ materially from those anticipated by these forward-looking statements are also described under “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in Mirion’s most recent Quarterly Report on Form 10-Q, Annual Report on Form 10-K and other documents that Mirion has filed or will file with the Securities and Exchange Commission. There may be additional risks that Mirion is not aware of or that Mirion currently believes are immaterial that could also cause actual results to differ from the forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements. Mirion assumes no obligation to update these forward-looking statements.

About Mirion

Mirion (NYSE: MIR) is a global leader in radiation safety, science and medicine, empowering innovations that deliver vital protection while harnessing the transformative potential of ionizing radiation across a diversity of end markets. Focused on nuclear and safety, the Mirion Technologies group is committed to powering advancements in nuclear energy through proven radiation safety technologies and expertise. Dedicated to driving better patient outcomes, the Mirion Medical group is focused on improving quality in cancer care through its broad range of solutions that enhance the delivery and ensure safety across the medical landscape. Headquartered in Atlanta (GA – USA), Mirion employs approximately 2,800 people and operates in 12 countries. Learn more at https://www.mirion.com/.