U.K.-based Xaar, an industrial inkjet technology supplier, has announced the acquisition of Engineered Printing Solutions (EPS, asi/16010). The terms of the deal were not disclosed. In a press release, Xaar stated that this was the first acquisition as part of the company’s goal in achieving £220m of annual sales by 2020.

“The product printing market is served by multiple print processes today and the fastest growing is inkjet,” Xaar CEO Doug Edwards said. “Here, just as with other industry sectors, there is great potential to accelerate the adoption of inkjet. EPS has established a successful business and is well positioned to continue to grow. Xaar gains a strong customer base and footprint in North America – a region Xaar has been targeting for growth. The integration capabilities EPS brings to Xaar will enable us to provide greater support to our existing and new OEM partners.”

EPS, which generated $14 million in revenue in 2015 and currently employs 60 workers, supplies customized printing solutions to a wide variety of market sectors including promotional, packaging, medical, automotive, apparel, appliances, sports equipment and toys.

EPS Founder Julian Joffe, who has been appointed as Xaar’s new president of Engineered Printing Solutions, said one of his company’s focuses has been to develop flexible and cost-effective digital inkjet solutions.

“Engineered Printing Solutions has a long track record of success through providing both analog and digital inkjet solutions to its customers,” Joffe said. “Xaar values our brand, engineering capability and the innovative solutions we bring to the marketplace. Xaar brings deep knowledge of inkjet technology and access to wider channels. We are looking forward to working together to better serve our global and U.S customers and accelerate the growth of the business.”

EPS was founded in 1985 in Manchester, VT, and moved to a 22,500-square-foot building located in East Dorset, VT, in 2003.