A HYDRAULICS business will remain in the North-East after being acquired following a successful management buy-out.
In a move which will see Pirtek Cleveland run by husband and wife team Harry and Linda Wood, Hydraulics firm E & J Advanced Fluid Systems Limited has been acquired by family company Wood’s Hydraulic Services Limited.
This successful acquisition, for an undisclosed sum, means Pirtek franchise is a will remain in Stockton, following the retirement of its previous owner.
Wood’s Hydraulic’s current team of nine will expand to help drive the company forward and the company intends to add another two vans to Pirtek Cleveland’s four-strong fleet and expand the company’s services into the brewery, dairy, food processing, chemical and agricultural industries.
The Woods were assisted by finance advisers Evolution LLP.
Mr Wood said: “I am absolutely over the moon to have been able to take over the firm. We are only one month into this project, so everything is a learning curve at the minute.
“Our main focus is on customer service and delivery, while Evolution is working on the accounts and other related projects, and the firm is helping us with these aspects by providing us with excellent advice.”
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