A Closer Look: Kingswood Acquires Coveris’ Paper Unit, Rebrands to Paranova Print and Packaging

In April 2026, Kingswood acquired Coveris Paper from Coveris, a global manufacturer of paper and plastic packaging solutions. As part of the transaction, the business was rebranded as Paranova Print and Packaging.

Like RAVE Aerospace and other recent transactions, Coveris Paper represented a highly attractive investment opportunity directly out of the Kingswood playbook. The business had strong underlying fundamentals, an experienced leadership team, and a well-established market position, but it operated within a larger corporate structure where it was not the primary strategic focus.

Kingswood recognized that separating the business and operating it as a standalone entity with dedicated operational support and investment would better position it for long-term growth.

The decision to launch under a new name, Paranova, was strategic, reflecting the company's evolution while honoring its roots. The name combines "Para," drawn from Paragon, the company's original name, which continues to enjoy strong, positive recognition among customers and stakeholders and is associated with a long-standing reputation for quality and reliability. "Nova," meaning new, represents a new chapter as an independent organization.

Paranova has a strong footprint across Europe, including in the UK and the Czech Republic. The acquisition further bolsters Kingswood's international operating network and expands the firm's presence in key European end markets.

The transaction was led by Andrew Kovach.