Kelvinside Group, the print and packaging vehicle set up by former Crean director, Mr Brian Molloy, has raised an additional £2.0 million in a rights issue from existing shareholders. The funds, said Kelvinside, will enable it to continue its acquisition programme.

The funding is necessary because the group has developed "a lot better and a lot faster" than originally anticipated, said Mr Molloy. Founded in August 1996, with a target sales of £20 million, it has acquired five print and packaging companies and has built a greenfield plastic card printing business. Kelvinside has now reached its annual sales target of £20 million well ahead of schedule. Mr Molloy said the company now has set a target of £50 million sales in three to four years time. The extra £30 million, he said, will come from acquisitions and from organic growth.