The deal, completed on 5 September, will see Needham Group continue to operate under its own branding and with unchanged management structure, but with an expanded product line and expanded reach into the Asian and American markets.

Built up from six months of conversations around potential strategic partnerships, the acquisition will benefit both firms significantly, said Needham Group managing director Aled Ellis.

He told Printweek: “[The deal] will really help Cyklop grow in the coding and marking industry. They have a direct presence in Asia and North America, but they didn’t have that presence in coding and marking in Europe, the Middle East and Africa, where we are strong.”

Both firms have growth on the agenda following the deal. With no redundancies in the deal, and plans to significantly expand client base and payroll, Needham Group will be able to take advantage of a wider product portfolio and improved supplier network to offer its customers more products, faster, Ellis said.

“We’re now part of a much larger organisation. And with those resources, we will grow,” he said.

“We’ll also have much more efficient supply chains, helping us cut lead times for our customers and enabling us to give a better experience, a broader portfolio and service levels.”

For Cyklop, access to Needham’s ink production facilities in the EMEA region will prove a key lever for expansion, according to Roberto Salemme, Cyklop’s CEO.

He said: “I am excited that Cyklop now has our own ink production facilities on the three continents, which is a direct benefit to our customers.

“We are also well positioned with Needham’s coding and marking technologies and expertise to offer OEMs and end users a complete packaging line of equipment, from industrial ink and laser printers, to our existing portfolio of case erectors, taping, wrapping, strapping machines and all of the consumables required.

“Better than that, we employ the experts who are ideally suited to not just engineer for our customers, but support them long term.”