A HYDRAULICS business will remain in the North-East after being acquired in 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 has been acquired by family company Wood’s Hydraulic Services.

This acquisition, for an undisclosed sum, means Pirtek franchise will stay in Stockton, after the retirement of its previous owner.

Wood’s Hydraulic’s team of nine will expand and it will add two more vans to Pirtek Cleveland’s four-strong fleet and expand its services into the brewery, dairy, food processing, chemical and agricultural industries.

The Woods were assisted by finance advisors Evolution LLP. Mr Wood said: “I am 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.”