Peter Smith, a veteran of firms including Watmoughs and Wyndeham Press Group, bought the firm in August with 2m backing from GE Commercial Finance and an unspecified sum from the Co-operative Bank.

Smith has set what he described as a "doable" target sales for the 4.7m turnover firm, which employs 60 staff at its base in Sleaford, Lincolnshire.

"In the first year, we want to maintain what we have and grow a
little. In the second year, we'll aim for turnover of 5.1m or 5.2m," he said.

He added that he was hoping to recruit one or two people to the sales team to achieve that aim, and is planning a marketing campaign to raise the firm's profile.

Smith, whose most recent employer was Adare owner Allen McGuire, said that he became aware of the possibility of buying the firm through the BPIF.

"I contacted the BPIF looking for buy-in opportunities in the Midlands and they suggested that Wayzgoose may be interested in a sale. We took it from there," he said.