Paragon ISG Acquires Spirit Drilling Fluids Team

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 Spirit Environmental

July 8, 2024

Environmental Services

Montrose Environmental Group, Inc. has acquired Spirit Environmental, LLC, a Houston-based air permitting and environmental consulting firm, to expand its air consulting and permitting capabilities across the U.S. Mountain and Gulf states. Spirit's senior leadership, including founder and CEO Brad Herrin, will join Montrose's Consulting and Engineering division; terms were not disclosed.

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.

Luxaviation Group Acquires Paragon Aviation Group

May 27, 2024

Aerospace & Defense

Luxaviation Group has completed the full acquisition of Paragon Aviation Group, integrating Paragon’s network of FBOs and international handling agents into Luxaviation’s global business aviation platform. The deal expands Luxaviation’s fixed-base operator (FBO) network to over 140 locations and strengthens its global service offerings for general and business aviation customers.

Paragon ISG Acquires Cinco Mud Solutions LLC

January 25, 2023

Energy

Paragon ISG, a Houston-headquartered energy and environmental services provider owned by Palladium Equity Partners, has acquired the team and related assets of Cinco Mud Solutions LLC, including the LG-100 drilling fluid additive. The acquisition brings experienced personnel (Scott Jackson and Mark Lemon) and expands Paragon ISG's drilling fluids capabilities and addressable end markets, including HDD and geothermal drilling.

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.