According to the Birmingham company's managing director Nigel Lyon, EF&S will allow city centre-based PPG to have a presence in the south of the city.

The two businesses will remain as separate entities and the EF&S name will remain because it is "a good strong name", according to Lyon.

He said: "This has been a target of ours for some time; it has some prestigious customers and it is over 80-years old. The acquisition now gives us additional capacity in a new area of the city.

"What we are finding is that capacity is a problem – what we are being asked to do we are unable to. This purchase will assist us in catering for our existing customer base."

Lyon added that PPG's first task for its new subsidiary would be get it up to speed on accreditations, such as ISO 14001 and 9001, which PPG already has. He said that these would be implemented "quickly".

As well as additional B2 and digital printing capacity, EF&S offers finishing and mailing capabilities. Prior to the buyout, it had a turnover of around £1.5m and employed more than 20 staff, which takes the group's total to 40.

Lyon added: "I would expect to drive turnover forward now. Print still has an element of regionality and the structure of having a central Birmingham base and southern hub will serve a wider customer base and leave us well placed to grow."