Paragon Metals Appoints Automotive Industry Veteran Marty Miller as CEO

NEW YORK--(BUSINESS WIRE)--Paragon Metals, LLC, (“Paragon” or the “Company’) today announced the appointment of Marty Miller to Chief Executive Officer, reporting to the Board of Directors. Mr. Miller replaces Eric Krepps, interim CEO, who will take on the role of Executive Chairman of the Board. Paragon was acquired by Stellex Capital Management in February 2019.

With over two decades of management experience in the automotive/heavy truck machining industry, Mr. Miller has a strong track record as a customer-centric leader committed to building and growing teams capable of delivering best-in-industry products and solutions. Prior to this appointment, he served as Paragon’s Chief Operating Officer with responsibility for improving operating efficiency to meet the needs of existing and new customers. Before joining Paragon, Mr. Miller was Chief Executive Officer of TSM Corporation, a precision machining company serving the automotive industry.

The Company is engaged in the business of manufacturing, distributing, sourcing, and importing complex, tight tolerance precision-machined components and assemblies serving a variety of industries, including automotive, heavy truck and general industrial markets. In addition to its manufacturing facilities in southern Michigan, Paragon maintains a strong network of strategic outsourcing partners in several countries.

“We are excited about Paragon’s next phase of growth with Marty leading efforts to expand the company’s client base and take advantage of multiple strategic opportunities that will benefit Paragon’s customers,” said David Waxman, Managing Director at Stellex. “We would also like to thank Eric for his commitment and leadership and look forward to his continued contributions on Paragon’s board.”

Mr. Miller added, “I am delighted about my appointment to CEO of Paragon. It is a business with an impressive commitment to becoming the premiere go-to machining company for highly complex machined components backed by exceptional customer service. The Company’s employees have been a key driver of Paragon’s success and I look forward to our continued relationship with Stellex to strengthen our operations in Michigan through investments in the people, technology, and products that enable us to deliver leading solutions.”

About Paragon Metals

Paragon Metals, LLC is a leading manufacturer of complex, tight tolerance precision machined components and assemblies. Paragon’s broad process expertise is complemented by a growing reputation as a product expert across various applications and mediums. The Company’s products are found on many critical applications in the automotive and heavy truck markets supporting ICE, hybrid, and EV platforms such as powertrain, driveline, and chassis among other industrial applications. Paragon is adept with multiple materials, including iron, aluminum, steel, and other light metals. For more information please visit: www.paragonmetals.com.

About Stellex Capital Management LLC

With offices in New York, Detroit, Pittsburgh, and London, Stellex Capital is a private equity firm with over $2.6 billion in AUM. Stellex seeks to identify and deploy capital in opportunities that stand to benefit from its operationally focused and hands-on approach to investing. Portfolio companies are supported by Stellex’s industry knowledge, operating capabilities, network of senior executives, strategic insight, and access to capital. Sectors of particular focus include aerospace, defense & government services, transportation & logistics, manufacturing, real economy & business services, food processing and tech-enabled services. Additional information may be found at www.stellexcapital.com.