Core Points - Mirion Technologies, Inc. announced its intent to offer $250.0 million aggregate principal amount of Convertible Senior Notes due 2031 in a private placement [1] - The offering is targeted at persons reasonably believed to be qualified institutional buyers under Rule 144A of the Securities Act of 1933 [1] - The company intends to grant initial purchasers of the notes an option to purchase additional notes [1]

Core Viewpoint - Mirion Technologies has announced its acquisition of Paragon Energy Solutions, indicating a strategic move to enhance its capabilities in the energy sector [2]. Group 1: Acquisition Details - The conference call is focused on discussing the acquisition of Paragon Energy Solutions by Mirion Technologies [2]. - Key executives participating in the call include Mirion's Chairman and CEO, Tom Logan, and CFO Brian Schopfer, highlighting the importance of this acquisition to the company's leadership [2]. Group 2: Forward-Looking Statements - The call will include forward-looking statements, with a caution that actual results may differ materially from projections, emphasizing the inherent uncertainties in the acquisition process [3]. - Financial measures discussed may not adhere to generally accepted accounting principles, indicating a focus on non-GAAP metrics for evaluating the acquisition's impact [3].

Summary of Mirion Technologies Conference Call on Acquisition of Paragon Energy Solutions Company and Industry - **Company**: Mirion Technologies (NYSE:MIR) - **Acquisition Target**: Paragon Energy Solutions - **Industry**: Nuclear Power and Energy Solutions Core Points and Arguments 1. **Strategic Acquisition**: Mirion announced a definitive agreement to acquire Paragon Energy Solutions, aiming to enhance its position in the U.S. nuclear power segment and broaden its international offerings [3][4][5] 2. **Human Capital**: Paragon brings a highly skilled team of approximately 150 engineers and technicians, which is seen as a critical asset for the combined company [4][5] 3. **Market Presence**: Paragon serves 100% of reactors in North America and over 140 nuclear reactors globally, indicating a strong market presence [4] 4. **Revenue Growth**: The acquisition is expected to double Mirion's potential revenue from small modular reactors (SMRs) and increase nuclear power-related revenue to 45% of consolidated revenue, up from 37% [9][10] 5. **Financial Details**: The purchase price is $585 million, representing approximately 18 times Paragon's expected 2026 EBITDA, with post-synergies valuation at about 14 times [10][11] 6. **Earnings Accretion**: The deal is expected to be accretive to earnings in the first year, adding $0.02 to $0.03 per share [10] 7. **Synergy Potential**: Expected annualized synergies of approximately $10 million by year five, driven by cost efficiencies and cross-selling opportunities [11][12] 8. **Recurring Revenue**: Approximately 94% of Paragon's revenue comes from the installed base, providing a stable revenue stream [8][42] Additional Important Content 1. **SMR Market Dynamics**: The U.S. SMR capacity could reach 6 to 10 gigawatts by 2040, with significant government support for nuclear power, enhancing growth prospects [7][35] 2. **Technological Integration**: Paragon's reactor protection system technology (HIPS) is the only modern system approved by the U.S. Nuclear Regulatory Commission in the last decade, which will enhance Mirion's product offerings [6][32] 3. **Market Challenges**: There has been a slowdown in order flow from China and a deferral of large customer orders, but the overall demand for nuclear power remains strong [20][21] 4. **Future M&A Pipeline**: Mirion is actively cultivating its M&A pipeline, with a focus on attractive adjacencies in nuclear power and nuclear medicine [18][19] 5. **Customer Relationships**: Paragon's strong customer relationships and commercial team are expected to enhance Mirion's market position and drive future growth [45][46] This summary encapsulates the key points discussed during the conference call regarding Mirion's acquisition of Paragon Energy Solutions, highlighting the strategic importance, financial implications, and market dynamics involved.

S e p t e m b e r 2 4 , 2 0 2 5 Mirion to Acquire Paragon Energy Solutions 1 Disclaimer Forward-Looking Statements This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements relating to: the acquisition of Paragon by Mirion; future financial and operating results of Paragon and Mirion; the benefits of the transaction and future opportunities for the combined company, including the benefits Mirion's customers may real ...

Core Viewpoint - Mirion Technologies Inc. has agreed to acquire Paragon Energy Solutions for $585 million in an all-cash deal, aiming to enhance its offerings in the nuclear power and small modular reactors (SMRs) sectors [1][2]. Acquisition Details - The acquisition will allow Mirion to strengthen its position as a supplier to both the existing nuclear fleet and the emerging SMR market, with expected revenue generation from Paragon projected at approximately $150 million by 2026 and profit margins exceeding 20% [1][2]. - The deal is expected to yield $10 million in cost and commercial synergies within five years [2]. - The acquisition will be funded through a bridge loan arranged by Goldman Sachs, with long-term financing anticipated to involve a mix of equity and debt [3]. Financial Impact - The acquisition is projected to be accretive to earnings in the first full year following the deal's closure, which is expected by the end of 2025, pending regulatory approvals [3]. - Mirion has lowered its guidance for organic revenue growth for the fiscal year ending December 31, 2025, now expecting an increase of approximately 4.5% to 6.0% year-over-year, down from a prior estimate of 5.0% to 7.0% [5]. Market Context - The revision in revenue guidance is attributed to several factors, including softer demand in the Labs & Research segment, weaker sales related to China outside the nuclear power sector, and delays in a planned defense dosimetry order in Europe [6]. - As of June 30, 2025, Mirion held cash and cash equivalents of $262.6 million [4].

Core Viewpoint - Mirion has entered into a definitive agreement to acquire Paragon Energy Solutions for approximately $585 million in cash, enhancing its capabilities in the nuclear power industry and expanding its global reach [1][2]. Company Overview - Mirion is a global provider of radiation detection, measurement, analysis, and monitoring solutions, serving various end markets including nuclear, medical, defense, and research [13]. - Paragon Energy Solutions specializes in engineered solutions for the nuclear power industry, with a strong portfolio that includes critical nuclear systems and over 20,000 proprietary parts [3][13]. Financial Aspects - The acquisition price of $585 million represents approximately 18 times Paragon's expected Adjusted EBITDA for 2026, which is projected to be around $150 million with margins of 20% - 22% [2][4]. - The acquisition is expected to be accretive to diluted EPS in the first full year post-close and generate annualized commercial and cost synergies of $10 million [4][5]. Strategic Implications - The transaction is anticipated to broaden Mirion's offerings for nuclear power customers, including small modular reactors (SMRs), and strengthen the global supply chain for nuclear operations [2][4]. - Mirion's Chairman emphasized that the complementary capabilities of both companies will enhance customer experience and support the growing needs of the nuclear power sector [2]. Operational Details - The acquisition is supported by a fully committed bridge facility, with permanent financing expected to maintain a pro forma net debt to Adjusted EBITDA ratio of approximately 3.5x or lower [5]. - The transaction is expected to close before the end of 2025, subject to customary closing conditions and regulatory review [5]. Market Guidance - Mirion has revised its organic revenue growth guidance for the fiscal year ending December 31, 2025, now expecting growth of approximately 4.5% – 6.0%, down from a previous estimate of 5.0% – 7.0% [7][8].

Company Overview - Mirion Technologies, Inc. (MIR) shares increased by 8.4% to close at $24.6, supported by higher trading volume compared to normal sessions, and a total gain of 12.2% over the past four weeks [1] - The company is expected to report quarterly earnings of $0.11 per share, reflecting a year-over-year increase of 37.5%, with revenues projected at $226.1 million, up 9.3% from the previous year [2] Earnings Estimates and Trends - The consensus EPS estimate for Mirion Technologies has been revised down by 9.1% over the last 30 days, indicating a negative trend in earnings estimate revisions, which typically does not lead to price appreciation [3] - Despite the downward revision, the stock currently holds a Zacks Rank of 2 (Buy), suggesting a favorable outlook [3] Industry Context - Mirion Technologies is part of the Zacks Technology Services industry, which includes other companies like Cricut, Inc. (CRCT), that saw a 2.7% increase in its last trading session and a 16% return over the past month [3] - Cricut's EPS estimate for the upcoming report remains unchanged at $0.05, indicating stability compared to the previous year, and it also holds a Zacks Rank of 2 (Buy) [4]

Core Insights - Mirion has signed a partnership agreement with the International Atomic Energy Agency (IAEA) to enhance cooperation in radiation detection and measurement [1] Company Summary - Mirion is a leading provider of advanced radiation safety solutions [1] - The collaboration will leverage Mirion's advanced instrumentation and expertise in ionizing radiation [1] Industry Summary - The IAEA serves as the central intergovernmental forum for scientific and technical cooperation in the nuclear field [1]

Core Insights - Mirion Technology Inc (NYSE: MIR) is well-positioned to benefit from policies that promote nuclear power as global energy demand is expected to increase by over 20% by 2030 [1] Company Summary - Mirion Technology Inc is likely to gain from the growing emphasis on nuclear energy, which is seen as a crucial component in meeting the rising global power needs [1]

Core Viewpoint - Growth stocks are appealing due to their potential for above-average financial growth, but identifying stocks that can fulfill this potential is challenging [1] Group 1: Company Overview - Mirion Technologies, Inc. (MIR) is recommended as a cutting-edge growth stock based on its favorable Growth Score and top Zacks Rank [2] - The company has a historical EPS growth rate of 43.8%, with projected EPS growth of 22% this year, surpassing the industry average of 20.7% [5] Group 2: Financial Metrics - Year-over-year cash flow growth for Mirion Technologies is 5.3%, significantly higher than the industry average of -10.3% [6] - The company's annualized cash flow growth rate over the past 3-5 years is 1360.6%, compared to the industry average of 13.8% [7] Group 3: Earnings Estimates - The current-year earnings estimates for Mirion Technologies have been revised upward, with the Zacks Consensus Estimate increasing by 5% over the past month [8] - Mirion Technologies has earned a Growth Score of B and carries a Zacks Rank 2 due to positive earnings estimate revisions, indicating potential for outperformance [10]