Mayer Brown has advised Coveris, a portfolio company of Sun European Partners, on the sale of its labels and board business (the “Paper Business Unit”) to US private equity firm Kingswood Capital Management.
Following the transaction, the paper business unit will operate as a stand-alone entity under its former name of Paragon Print and Packaging. The divestment enables Coveris to sharpen its strategic focus on its core EMEA flexible packaging activities, whilst providing the Paper Business with the platform to pursue continued growth under new ownership.
Coveris is one of the major European flexible plastic and paper packaging manufacturers. Following completion of the transaction, Coveris’ operations will consist of 17 flexible manufacturing facilities in EMEA and the UK, with sales volume of EUR 600 million and a workforce of 2,500 employees.
Sun European Partners, LLP is a leading private investment advisory firm, focused on partnering with outstanding management teams to accelerate value creation. Since 1995, affiliates of Sun European have invested in more than 570 companies worldwide and has offices in London and affiliates with offices in Boca Raton, Los Angeles and New York.
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