Paragon ISG Acquires Cinco Mud Solutions LLC

Integrated Utility Services Acquires Paragon Industries (Chapter 11 363 Sale)

July 17, 2026

Manufacturing

Integrated Utility Services (IUS), a Houston-based holding company, completed its acquisition of Paragon Industries, a long-standing Oklahoma manufacturer of API-licensed steel pipe products. The deal closed July 13, 2026, through a Chapter 11 Section 363 sale process, with Infinity Capital Partners serving as exclusive investment banking advisor.

Montrose Environmental Group Acquires Paragon Soil & Environmental Consulting

June 5, 2024

Environmental Services

Montrose Environmental Group, Inc. acquired Paragon Soil & Environmental Consulting, Inc., an Edmonton-based environmental consulting firm that provides soils, vegetation and wetlands development and reclamation services across western Canada. Paragon's senior leadership, including President Lee Waterman, will join Montrose’s Consulting and Engineering services in the Remediation and Reuse segment; terms were not disclosed in the press release.

Paragon ISG Acquires Spirit Drilling Fluids Team

June 2, 2022

Energy

Paragon Integrated Services Group (Paragon ISG), a Houston-based provider of energy and environmental services owned by Palladium Equity Partners, acquired the Spirit Drilling Fluids team and related assets. The add-on expands Paragon ISG's drilling fluids and solids-management capabilities and strengthens its footprint across Texas and Louisiana, including activity in the Permian, Delaware, Haynesville and Eagle Ford basins.

CMT Engineering Laboratories Acquires Paradigm Consultants

January 6, 2022

Engineering Services

CMT Engineering Laboratories, a CAI Capital Partners-backed portfolio company, has acquired Paradigm Consultants, a Houston-based provider of construction materials testing, inspection, geotechnical engineering and forensic services. The add-on expands CMT's presence in Texas by adding approximately 40 personnel and retains Paradigm leadership with Woody Vogt and Ray Meyer keeping equity and remaining in their roles.

Paragon Energy Solutions Acquires Rock Creek Innovations

December 20, 2021

Energy

Paragon Energy Solutions, a Windjammer Capital portfolio company, has acquired Rock Creek Innovations, LLC, a developer and licensor of the Highly Integrated Protection System (HIPS) used in nuclear safety-related instrumentation and control systems. The acquisition brings Rock Creek's HIPS platform and engineering team into Paragon to expand its safety I&C capabilities for commercial nuclear power plants and small modular reactors; terms were not disclosed.

Windjammer Capital Acquires Paragon Energy Solutions

December 1, 2021

Energy

Windjammer Capital Investors has acquired Paragon Energy Solutions, LLC in partnership with Paragon management; terms were not disclosed. The transaction transfers control from Argosy Private Equity to Windjammer and positions Paragon to expand its nuclear parts, instrumentation & controls, and procurement services through organic growth and acquisitions.