According to Paul Holohan, chief executive of M&A specialist Richmond Capital Partners, alliances are "especially suited" to the print industry.

He said: "There is a tendency to go for organic growth, or for a full merger or acquisition. However, a strategic alliance can deliver the same benefits at a lower cost and reduced risk. A strategic alliance can open up opportunities that may not be possible for one company alone.

While strategic partnerships are commonplace among suppliers to the print sector, they have yet to catch on amongst the majority of print businesses.