Kingswood Capital Management, LP has confirmed that it has entered into a definitive agreement to acquire Business Unit Paper (BU Paper) from Coveris.
As part of the transaction, BU Paper will be rebranded as Paragon Print and Packaging, restoring the unit’s original name. Jo Ormrod, Chief Operating Officer, will serve as Paragon’s Chief Executive Officer, and the existing company management will remain in place. The transaction is expected to close in several weeks, subject to customary legal and regulatory requirements.
“We are excited about our next chapter with Kingswood,” said Ormrod. “We are proud to return to our legacy name Paragon, a brand customers know and trust going back over three decades. I’m incredibly proud of what the team has built and I’m looking forward to working with the entire Kingswood team as we grow as a standalone company while continuing to deliver the high-quality, sustainable solutions our customers have come to expect.”
“We were impressed with Paragon’s market position, strong product lineup, and exceptional business leadership,” said Andrew Kovach, Managing Director, Kingswood. “The Paragon brand has strong recognition across the UK and continental Europe for reliability and excellence, and as companies around the world seek more sustainable packaging solutions, we see tremendous opportunities for growth for the company.”
“Paragon has an enduring legacy as a trusted provider of sustainably produced solutions,” said Alex Wolf, Founder and Managing Partner, Kingswood. “We’re looking forward to supporting Jo and the rest of the leadership team as they join the Kingswood portfolio and embark on the next chapter as a standalone company.”
