Mark Simpson, chairman of the Washington, Tyne and Wear-based printer, said the Eurofactor facility would enable the company to manage the projected 20% growth he forecasts for the company in 2010.

He said: "The print industry is not a very attractive target for funding at the moment as pressure from pricing and suppliers continues to impact on margins.

"However, we had a good plan and operate in a sector that has a strong future growth pattern."

Last November, Simpson Group acquired Heathrow-based large-format printer Realisis In-Store out of administration, giving the company a base in the South East.

Simpson said that the integration of the business had been "tough" but was starting to come together.

"The cultures of the two businesses are now becoming integrated and customers are beginning to see the benefit. We felt we needed a presence close to London to serve clients that operate from the capital," he said.

"Following the deal, our turnover increased dramatically and we had to make sure that we were in a position where we could accommodate that growth and, with this funding in place, we are now positioned to benefit from the upturn when it comes."

Simpson Group was established in 1972 and employs 126 staff at its Washington and Heathrow sites. It counts Matalan, Next and Borders among its clients.