Integrated Utility Services (IUS), a Houston-based industrial company led by Tulsa natives Trinity Dawson and Dustin Ketchum, has acquired substantially all of the assets of Paragon Industries, an Oklahoma-based manufacturer of steel pipe products, through a Chapter 11 restructuring process. Financial terms were not disclosed.
Following the acquisition, the business will operate as Paragon Pipe Company, LLC. IUS plans to restart and modernize the manufacturing facility, invest in workforce development and quality systems, and leverage its existing relationships across utility, energy, pipeline, and infrastructure sectors to expand the company’s market reach. The transaction is framed as both a commercial investment and a domestic supply chain restoration — preserving a U.S.-based steel pipe manufacturing platform at a time of heightened focus on reducing dependence on imported materials for critical infrastructure industries.
Paragon has served energy, utility, infrastructure, and industrial customers across North America, and its revival is intended to restore its position as a domestic supplier in those markets. IUS co-founders Dawson and Ketchum, both with roots in Oklahoma, described a personal dimension to the acquisition tied to the company’s role in the local industrial economy.
Support: Infinity Capital Partners served as investment banking advisor, and GableGotwals served as legal counsel to IUS.
KEY QUOTES:
“As someone who grew up in Oklahoma, this acquisition is deeply personal to me. Paragon has been a pillar in this community for decades, and our commitment is to honor that legacy. We care about the people, the jobs, and the long-term health of Oklahoma’s industrial economy — and we want to see this business thrive for generations to come. Paragon represents far more than a manufacturing facility. It represents skilled American workers, a proud Oklahoma legacy, and an opportunity to build something meaningful for the communities we serve.”
Trinity Dawson, Co-Founder, President and Chief Executive Officer, Integrated Utility Services
