"Companies in the industries we operate in are going out of business or being acquired, but we are fortunate to be a in a very stable position," said Anderson.

"By remaining independent we can continue to do what we do best," he added.

The deal for the 7m-turnover group, founded by Ian and his brother Mike who is bowing out after 30 years was for an undisclosed sum.

In order to grow the Erith, Kent-based envelope manufacturer and overprinter EPC, Anderson is expanding its existing sales force in the south-west and is due to add a fourth sales office.

"We expect this to open in the next three to six months," he said. The firm, which has seven Winkler+Dunnebier and Halm overprinting presses, is also in the advanced stages of moving its plate production to CTP.

As well as EPC, the Versapak group includes security/medical bag and pouch and mailroom kit manufacturer Versapak International, which also has a sales office in Germany, and Versapak Doping Control, which manufactures products for sport.