Argosy Invests in Paragon Energy Solutions
On August 30, 2017, Argosy acquired Paragon Energy Solutions, LLC (the “Company”). Paragon Energy Solutions was formed in 2000 to provide supply chain management services to Exelon, America’s leading competitive energy provider. Today, the Company provides supply chain management solutions and manufactures and services safety-related parts and components for the U.S. commercial nuclear industry, including 23 utility companies with 64 nuclear facilities. Paragon operates three business segments: Commercial Grade Dedication, 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. The Company operates from two primary facilities in Schenectady, New York and Oak Ridge, Tennessee.
The Company is partnering with Doug VanTassell, CEO of Paragon Energy Solutions. Mr. VanTassell previously served as CEO of AP Services, a successful AIP IV investment. The existing management team will remain with the Company post-closing.