Coveris’ Business Unit Paper has confirmed the completion of its acquisition by Kingswood Capital Management, LP. As part of the transition to an independent organisation, BU Paper will adopt the new name Paranova Print and Packaging, reflecting both its long-standing heritage and its next phase of growth.
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, signalling a new beginning as an independent organisation.
“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, 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.
