M&A Deal Summary

Windjammer Capital Acquires Paragon

On December 1, 2021, mezzanine finance firm Windjammer Capital acquired transportation company Paragon from Argosy Private Equity

Acquisition Highlights
  • This is Windjammer Capital’s 1st transaction in the Transportation sector.
  • This is Windjammer Capital’s 45th transaction in the United States.
  • This is Windjammer Capital’s 2nd transaction in Tennessee.

M&A Deal Summary
Date 2021-12-01
Target Paragon
Sector Transportation
Buyer(s) Windjammer Capital
Sellers(s) Argosy Private Equity
Deal Type Secondary Buyout

Target

Paragon

Oak Ridge, Tennessee, United States
Paragon provides an unmatched level of commitment to tackling the nuclear industry’s difficult challenges. Dedicated to quality, safety, reliability, and carbon-free energy, the company delivers premium products to nuclear energy facilities with proven reductions in direct costs, parts inventory, improved process efficiency, and obsolescence solutions. Paragon was formed in 2000 and is based in Oak Ridge, Tennessee.

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Buyer(S) 1

Buyer

Windjammer Capital

Newport Beach, California, United States

Investor Investor Investor Investor Investor

Category Mezzanine Finance Firm
Founded 1990
PE ASSETS 2.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Windjammer Capital Investors is a private investment firm that invests control equity, minority equity, and/or subordinated debt in growing middle-market businesses. The Firm seeks to invest between $50 and $200 million of equity or subordinated debt in companies that generate at least $8 million of EBITDA. Windjammer focuses on North American-based opportunities and prefers companies with scalable business models, differentiated products/services, and that operate in defensible markets. Broad sectors of interest include manufacturing, business services and value-added distribution. Windjammer does not invest in high technology, real estate, and financial services companies. Windjammer Capital Investors was formed in 1990 and has offices in Waltham, Massachusetts and Newport Beach, California.

DEAL STATS #
Overall 45 of 48
Sector (Transportation) 1 of 1
Type (Secondary Buyout) 16 of 18
State (Tennessee) 2 of 2
Country (United States) 45 of 48
Year (2021) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-09-28 Advanced Instruments

Norwood, Massachusetts, United States

Advanced Instruments is a designer, manufacturer, and marketer of laboratory test equipment and related consumables for use in clinical, food and dairy, microbiology, pharmaceutical, and biotech markets. With an array of technical competencies, including being the world’s foremost authority on the application of Freezing Point Depression technology for measuring the osmolality of solutions, AI serves thousands of end-users in over 90 countries under the Advanced Instruments, Fiske, and Mart Microbiology brands. Advanced Instruments was founded in 1955 and is based in Norwood, Massachusetts.

Sell $780M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-12-16 RegO

Elon, North Carolina, United States

RegO is a designer and manufactures a comprehensive range of flow control valves and regulators that are sold to domestic and international markets under the RegO and Goddard brand names. RegO was formed in 1908 and is based in Elon, North Carolina.

Sell -

Seller(S) 1

SELLER

Argosy Private Equity

Wayne, Pennsylvania, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1990
PE ASSETS 575M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Argosy Private Equity is the private equity arm of Argosy Capital, an asset management firm. Argosy Private Equity provides both debt and equity capital to lower middle-market companies located throughout the US. Argosy focuses on growth companies with experienced management teams and revenues between $15 and $100 million and EBITDA of $3 to $9 million. Argosy looks to invest $5 - $20 million per transaction. Specific areas of interest include manufacturing, business services, franchising and Value added distributions. The Firm will consider a variety of transaction types, including MBO’s, recapitalizations, growth equity and acquisitions. Argosy was formed in 1990 and is based in Wayne, Pennsylvania.

DEAL STATS #
Overall 46 of 52
Sector (Transportation) 2 of 2
Type (Secondary Buyout) 9 of 9
State (Tennessee) 2 of 2
Country (United States) 46 of 52
Year (2021) 7 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-10-25 Breezesta

New Holland, Pennsylvania, United States

Breezesta is a manufacturer of recycled poly-resin outdoor furniture and accessories. Breezesta was founded in 2004 and is based in New Holland, Pennsylvania.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-12-02 HB&G

Troy, Alabama, United States

HB&G is a designer and manufacturer of synthetic and wood specialty millwork, consisting primarily of exterior and interior columns, as well as exterior posts, railings, and ceilings for porch and deck applications. HB&G was founded in 1880 and is based in Troy, Michigan.

Sell -
Mergr

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