Paranova Print and Packaging Launches as Independent Company Under New Name Following Acquisition by Kingswood Capital Management
Coveris’ Business Unit Paper (“BU Paper”) announced today the completion of its acquisition by Kingswood Capital Management, LP (together with its affiliates, “Kingswood”). As part of the transition to an independent organization, BU Paper will adopt the new name Paranova Print and Packaging (“Paranova”), reflecting both its long-standing heritage and its next phase of growth.
Paranova produces high-quality, sustainable paper-based packaging solutions, including for food, household, and personal care. The company specializes in products like self-adhesive and linerless labels, lined board, cartons, and trays using eco-friendly materials.
For over three decades, Paranova has been a trusted partner to customers, suppliers, and the broader packaging industry. Today, that legacy continues as the company begins a new chapter under a new name. Paranova brings together elements of the company’s past, present, and future: “Para,” rooted in Paragon, the company’s original name and decades-long dedication to excellence, and “Nova,” meaning new, signaling a new beginning as an independent organization.
“We are excited to officially enter the Kingswood family and proud to introduce Paranova Print and Packaging as our new identity,” said Jo Ormrod, CEO of Paranova. “We listened closely to our colleagues and customers and decided on an identity that represents the new opportunities ahead of us with Kingswood, combining the legacy of excellence and a renewed focus on innovation, sustainability, and long-term value creation.”
Andrew Kovach, Partner at Kingswood, added, “We’re looking forward to working with Jo and the entire team as they embrace the next chapter of growth through their new identity. Paranova is a fresh and distinctive new brand that embraces what established the company’s reputation and what will drive and inspire its evolution.”
Jefferies served as exclusive financial advisor to Kingswood on the transaction, and Kirkland & Ellis LLP served as legal counsel.
About Paranova Print and Packaging
Paranova Print and Packaging, established in 1994, manufactures high performance, sustainable packaging solutions across various industries for a diverse customer base that spans the United Kingdom and Europe. Specializing in products such as self-adhesive and linerless labels, lined board, cartons, and trays, Paranova uses eco-friendly materials and adheres to high environmental compliance standards to ensure responsible sourcing. With a strong focus on recyclability and circularity, the company helps customers meet their environmental goals through efficient and responsible packaging solutions.
About Kingswood Capital Management, LP
Kingswood Capital Management, LP, partners with leading companies in the middle market which stand to benefit from its capital and extensive operating resources. Kingswood embraces complexity and believes it is well-positioned to support businesses at inflection points in their development to enhance value. Based in Los Angeles, Kingswood is a cohesive, entrepreneurial team with a long history of shared success developing “win-win” partnerships with its portfolio companies and management teams. For more information, please visit the Kingswood website at www.kingswood-capital.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20260409343200/en/
Contact
Media Contact
Shannon Powers
[email protected]
