The new eight-colour B1 long perfector is due to be installed in July at the Leamington Spa base. The company has increased turnover by 125% to £5.6m in four years and almost doubled staff headcount to 65.

Sales manager Paul Baxter said: "Predominantly we are a magazine printer and do long runs, but this new investment will give us the opportunity to look at other markets on the commercial side, maybe government work, education, high-end agency work. We might also look to work with print management companies."

Currently the firm operates two Speedmaster SM102-8-P presses and an SM74-4+L. One of the SM102s and the SM74 will be replaced to help give the company more productivity and flexibility.

Managing director John Young said: "We can’t afford not to buy now. It will give us the ability to produce to the prices that the market demands today. It was the speed of makeready on the new SX 102 that was convincing.

"Currently it is about 45 minutes on our SM 102s. But on the new press, it will be just 15 minutes. So as we average 420 eight-unit plate changes per month we will create over 200 hours capacity each month.

"In addition we will use 100 sheets less per make-ready which equates to a saving of £30,000 in paper costs per year and the 80% improvement in running speed will give a significant benefit to productivity."

Finance for the press was arranged with Société Génerale through Bespoke Asset Finance. In total, including add-ons and internal preparations, the company spent about £2m.

Young’s wife Gillian is company secretary while sons Alan and Paul work in prepress and customer services departments.