C&T Matrix is a global supplier and manufacturer of creasing matrix and accessories for die-making, die-cutting and print finishing, including steel rule, ejection rubbers, counter material and patch tape. It has more than 120 distributors in more than 70 countries including the UK, Italy, India, the US, and China.

Clear Group, based in Valencia, Spain, employs around 15 people with a €5m (£4.2m) turnover. It manufactures a wide range of products for the die-cutting and graphic arts sectors and has key strategic suppliers, such as Austrian-headquartered steel parts manufacturer Böhler and Finnish firm Koskisen, which manufactures wood-based products.

In signing the deal with Spain-based Clear Group at the end of January, C&T is strengthening its business in Southern Europe, increasing its industry supplier network and expanding its product portfolio.

The two businesses have worked together since the 1990s when Clear Group was a distributor in Spain and Portugal for the UK manufacturer.

C&T Matrix managing director Simon Shenton said that Clear then began to manufacture its own products, which piqued the UK firm’s interest in a potential acquisition.

“Gradually over the years our customers have said they would like to buy a wider range of products from us, which we have sourced from third parties and built up quite a large market share in certain products,” he explained.

“It just so happens that Clear manufactures those products, so now, rather than buying from third parties, we have in-house capability.

“It’s really about enriching the product portfolio to all of our direct customers and distributors around the world.”

Wellingborough, Northamptonshire-based C&T Matrix employs around 120 people with a turnover of £17m.