The deal, which was completed on 12 April, includes 100% of the firm's equity and is Lynx’s second UK acquisition after it bought kitchen and bathroom firm Signalhome in February this year.

Label Express was incorporated in June 1984 and specialises in label printing for the food and beverage, health and personal care, retail and promotional, automotive and household product markets. 

The firm's 20 employees are based in its 930sqm Croydon factory, which houses three "state-of-the-art" flexo presses that can print up to nine colours on multi-ply, 'peel and reveal' labels as well as producing various other specialist embellishments. 

In its latest set of abbreviated accounts, made up to the year ending 30 June 2016, the company listed shareholder funds of £1.4m. 

Following the acquisition the Label Express board of directors, including operations director Mark Freestone and sales director Simon Williams who’ve both been with the firm for 30 years, and managing director Andy Riggs, will all remain in place reporting directly to Lynx in Toronto. 

According to Riggs, the sale was prompted by the retirement of former managing director and finance director Roger Bourner and that of major shareholder Peter Masters.

He said: "It’s too early to assess impact on the business but we do not envisage any major changes to the business or our strategy. With express lead times and the extra-mile service that the business has been built on, ‘can do’ is our slogan.

"As much of the packaging sector is losing its way with high-profile acquisitions the business was keen to find a home where the key strengths would be retained. We were happy to find a private equity company whose main philosophy was to buy and hold not buy and sell," he added. 

The value of the acquisition has not been disclosed but Lynx commonly invests in small- and medium-sized businesses valued between US$1m and US$10m and where owners are looking to retire. Its broad-ranging portfolio includes 40 businesses across Canada, the US and the UK in a range of sectors including print, with two printing businesses and four signage firms in Canada. The company said more UK acquisitions were planned, although no further details have been released.

According to Lynx Equity vice-president Mathew Burpee, Brexit uncertainty has presented an ideal climate for investing in UK markets. “By using our US funds to buy in the UK we are taking advantage of the strong US dollar and historically weak UK pound, while also dramatically increasing our portfolio's geographic diversification.

“We have spent a lot of time evaluating the risks associated with the UK and Brexit and we feel that there are still plenty of opportunities to buy exceptional companies who will remain strong and successful regardless of the future economic outcomes for the country.”

 The acquisition negotiations were facilitated by London-based law firm Howard Kennedy.