Windjammer-backed Paragon Energy buys Rock Creek Innovations

Paragon Energy, which is backed by Windjammer Capital Investors, has acquired Rock Creek Innovations, a provider of safety-related instrumentation and control systems.

Paragon Energy, which is backed by Windjammer Capital Investors, has acquired Rock Creek Innovations, a provider of safety-related instrumentation and control systems. No financial terms were disclosed.

PRESS RELEASE

Fort Worth, TX — Windjammer Capital Investors is pleased to announce that its newest portfolio company, Paragon Energy (“Paragon” or the “Company”), has acquired Rock Creek Innovations (“Rock Creek” or “RCI”). The terms of the transaction were not disclosed.

Rock Creek is a leading designer of nuclear safety-related instrumentation and control systems. RCI specializes in design and development of safety critical systems, including the Highly Integrated Protection System (HIPS) for use in U.S. NRC-regulated Nuclear Safety Related Control Systems. As a hybrid solution, the HIPS platform combines the best of both analog and digital systems and is designed to provide a robust, scalable platform for safety-related and important-to-safety functions within the commercial nuclear power plant industry. HIPS also delivers critical features for protection safety systems and cyber security.

RCI was founded in 2013 by Gregg Clarkson and will continue to be based out of its headquarters in Waverly, Kansas. Clarkson will assume the role of Chief Innovation Officer at Paragon.

Doug VanTassell, President & CEO of Paragon stated, “The combination of Paragon with Rock Creek’s elite team of professionals is an industry game-changer for both Small Modular Reactors (SMRs) and the current fleet of Commercial Nuclear Power Plants (NPPs). Combining Paragon’s extensive capabilities with those of Rock Creek brings better end-to-end solutions for safety instrumentation and control to the industry, which will positively impact the next generation of advanced reactors and operating NPPs that look to upgrade their original protection systems to modern technology.”

“Both Paragon and RCI have experienced incredible success by providing industry changing solutions that solve the nuclear industry’s most difficult challenges,” said Rob Quandt, Managing Director at Windjammer. “We are excited to support the Paragon team as they continue to expand their portfolio of critical safety system solutions for the industry and will continue to seek add-on opportunities that create value for its customers.” Paragon was acquired by Windjammer Capital in November 2021.

For more information on Paragon please visit its website at https://paragones.com/.

About Windjammer Capital
Windjammer Capital is a national private equity investment firm, based in Newport Beach, CA and Waltham, MA that invests control equity in middle-market businesses and in partnership with management. Since its founding in 1990, Windjammer has managed over $2 billion of committed capital with respect to its control equity investment strategy, and since inception has completed over 60 platform investments and more than 160 strategic add-ons. The firm targets investments in companies that are leaders in attractive niche markets and share several of the following characteristics: significant and defensible market positions; differentiated products and services; strong management teams; scalable business models; identifiable growth opportunities; and consistent financial performance. www.windjammercapital.com