Three Keys Capital Advisors advises Paragon Industries on the sale of Paragon’s assets to Integrated Utility Services

Three Keys Capital Advisors advises Paragon Industries on the sale of Paragon’s assets to Integrated Utility Services

July 14, 2026

NEW YORK, July 14, 2026 – Three Keys Capital Advisors (“Three Keys”) is pleased to announce the successful sale of substantially all of the assets of Paragon Industries, Inc. (“Paragon”) to Paragon Pipe Company, LLC, an affiliate of Integrated Utility Services, LLC (“IUS”), for a purchase price of $40 million.  The sale process was conducted under Section 363 of the Bankruptcy Code, free and clear of liens, claims and liabilities.  Paragon had filed for Chapter 11 bankruptcy protection in the Eastern District of Oklahoma (Case #25-80433-PRT) on May 21, 2025.

Three Keys acted as exclusive investment banker to Paragon on the sale.

IUS, whose co-founders are from Tulsa, Oklahoma, invests in companies who service the energy sector. The transaction provides the capital, operational expertise, and industry relationships necessary to restart Paragon’s operations, retain and create jobs, and re-establish Paragon as a leading supplier of high-quality steel pipe products to energy, infrastructure, and industrial customers throughout North America.

About Paragon

Paragon owns an integrated steel pipe manufacturing operation in Sapulpa, Oklahoma. Paragon has two pipe forming mills capable of producing pipe from 4 – 16” outside diameter, and also operates heat-treating, threading and line pipe coating facilities. The company historically produced pipe for both energy and non-energy applications, including oil country tubular goods, line pipe, sprinkler pipe, standard pipe and piling products.

About Integrated Utility Services

Integrated Utility Services is developing a full-scale integrated service company by investing in companies that produce the highest quality products and provide top professional and technical services to the energy industry. Focusing on the industry’s maintenance, repair and operations and project needs, IUS seeks to offer a one-stop supply chain solution, including manufacturing, fulfillment services, engineering, construction services, transportation services, and tech services.

For more information, visit www.iuscompanies.com.

About Three Keys

Three Keys Capital Advisors is a boutique investment and merchant banking group. Three Key provides transactional and strategic advisory for companies and investors, focusing on opportunities in the metals, industrials and other sectors. Three Keys is based in New York with additional offices in the UK, Switzerland and Mexico City.  For more information, visit www.iiikeys.com.

Contacts: Philip Konnikov, Managing Director, philip.konnikov@iiikeys.com

Back To Press Releases

Start the Conversation

Exit Your Business with Confidence & Without Regrets