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December 3, 2021
Private Equity

Argosy Private Equity Exits Paragon Energy Solutions, LLC

We are pleased to announce that Argosy Private Equity exited its investment in Paragon Energy Solutions, LLC. Paragon was sold to Windjammer Capital, a middle-market private equity firm based out of Waltham, MA.

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.