Paragon Energy Solutions to acquire the nuclear logistics business of AZZ.

Paragon Energy Solutions, which provides nuclear energy facilities with reductions in direct costs and parts inventory, agreed to acquire nuclear logistics business of AZZ, a global provider of metal coating solutions, welding solutions and specialty electrical equipment. Financial terms were not disclosed. “We are pleased to have reached an agreement to divest the NLI business with Paragon. I am convinced that Paragon will be a great partner to the NLI customer base, as well as a good employer for NLI’s workforce. We were successful in improving NLI operational performance but based upon a strategic review of our assets and product portfolio, we believe the divestment of NLI and redeployment of capital into our metal coatings business segment creates greater growth opportunities for AZZ. We will work with the Paragon team to affect a seamless transition and to ensure NLI’s customers receive the industry-leading service they deserve,” Tom Ferguson, AZZ Chief Executive Officer.