A PIPELINE maintenance company has been acquired by staff in a management buy-out that will see it move to new premises.

Inpipe Products, which manufactures pipeline maintenance machines, known as pigs, has been bought for an undisclosed sum from parent company, Pan-Atlanta Developments Limited.

The leading exporter, employing 65 at Catterick, North Yorkshire, is presently looking for new premises in the region as it plans to double in size and take on more staff over the next two years.

Managing director Simon Bell said: "We have developed a very loyal and experienced workforce which is now respected on a worldwide basis with over 78 percent of company turnover coming from exports.

"The reputation we have established in our sector provides the perfect platform to take the business forward.

"We pride ourselves in having the experience and expertise to provide a solution, whether it's a standard product that we're developing ourselves or it's a bespoke product with a set of difficult parameters.

"That's generally where the expertise comes out, when customers' requirements are a little more demanding because of the technical performance required by the operator."

The management buy-out was supported by London based private equity investor, Meridian Equity.

Meridian co-founder Andrew Clarfield said: "We are delighted to be backing Simon and his management team.

"Inpipe Products is a worldwide leader in its field, and Meridian will support the development of the business within this exciting sector."

Inpipe Products is a member of Durham City based energy sector business development organisation, NOF Energy.

NOF chief executive George Rafferty said: "As an established part of the pipeline and subsea sector supply chain, Inpipe Products is part of a strong group of companies that are exporting UK expertise around the world, which further enhances this country's reputation for innovative products, services and skills.

"It has carved an excellent position in a niche market and this acquisition will provide its management team with greater scope to increase its global penetration."

As well as supplying the petrochemical, oil, gas and water industries, the company, established in 1984, also manufactures products for the food and pharmaceutical sectors.

Its investment in research and design has resulted in the company producing and patenting products that are now regarded as industry norms.