The Southampton-based print and design firm is aiming to increase turnover to £3m by taking on more work with the Lithrone S1029P.

The 17-year-old printer, which produces corporate brochures, magazines and flyers, counts B&Q, Southampton University and Warwick University Students' Union among its client base.

Indigo Press managing director Richard Docherty called the investment "a major milestone in the development of this company".

He added: "We are growing significantly, have demanding customers and are investing to exceed their expectations.

"They need faster turnaround times and more and more work producing – this investment means that we are very well placed to cope with those demands both now and as they grow in the future."

The Lithrone S1029P can handle a variety of stocks and can reach production speeds of up to 16,000sph.

The investment comes two years after the firm bought a five-colour Komori NL528 for £400,000.