Sometimes change comes full circle.
About Paragon Print and Packaging
Paragon 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. Specialising in products such as self-adhesive and linerless labels, lined board, cartons, and trays, Paragon uses eco-friendly materials and adheres to high environmental compliance standards to ensure responsible sourcing.
In 2013 it became part of Exopack Holdings after acquisition by Sun Capital Partners, and that entity was later rebranded as Coveris.
Christian Kolarik, Chief Executive Officer of Coveris, has commented:
“Since its establishment in 2020, the Paper Business Unit has been consistently and successfully developed. We are proud about the achieved performance and its current level of maturity led to the join decision by Sun Capital and management to divest the business, allowing a clear strategic focus on core EMEA flexible packaging activities. We are confident that the Paper Business is well positioned for continued growth under new ownership.”
Kingswood to restore Original Name
Kingswood Capital Management, LP (together with its affiliates, “Kingswood”) recently announced that it has entered into a definitive agreement to acquire Business Unit Paper (“BU Paper”) from Coveris, a global manufacturer of paper and plastic packaging solutions. As part of the transaction, BU Paper will be rebranded Paragon Print and Packaging (“Paragon”), restoring the unit’s original name.
Note: The image displays the company’s previous branding. Kingswood have yet to close the transaction as it is still subject to legal and regulatory requirements, and therefore whilst the desire to return to the company name is there, the brand may have a refresh.
CEO Jo Ormod
Jo Ormrod, Chief Operating Officer, will serve as Paragon’s Chief Executive Officer, and the existing company management will remain in place. She comments:
“We are excited about our next chapter with Kingswood. 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.”
Support for Current Leadership
Alex Wolf, Founder and Managing Partner at Kingswood, comments:
“Paragon has an enduring legacy as a trusted provider of sustainably produced solutions. 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.”
Andrew Kovach, Managing Director at Kingswood, has also commented stating:
“We were impressed with Paragon’s market position, strong product lineup, and exceptional business leadership. 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.”
Kingswood acquired Kodak Alaris
In just the last two years, Kingswood has acquired Daramic, a global manufacturer and supplier of lead battery separators, from Japanese-based diversified chemical company Asahi Kasei, and Kodak Alaris, a global technology company specialising in data capture, processing, and photo products and services, from the United Kingdom Pension Protection Fund.
Print in the Channel reported on the Kodak Alaris aquisition: found here.
This month, Kingswood acquired Safran Passenger Innovations, a leading global provider of in-flight entertainment and connectivity, from French-based parent Safran, operating in high-tech aviation, defense, and space markets. The company has been renamed RAVE Aerospace.
Several Weeks
The transaction is expected to close in several weeks.
The article contains forward-looking statements, about future events which may or may not occur, and caution should be exercised when relying on such information.
