Power Dynamics has new owner, new name
July 31, 2015
Power Dynamics, an industry leader in fluid power systems, has a new owner and a new name.
Robert Hancock sold the Stennis Space Center-based company to Carl Liberty which renamed it Power Dynamics Innovations LLC.
The newly formed company will continue providing worldwide engineering and manufacturing solutions to the fluid power industry.
PDI builds customized horizontal directional drilling units, hydraulic power units, winch and pipeline tensioning equipment, including its own line, in addition to pipe handling systems, conveyor systems, cable pulling units, constant tension winches and electronic/PLC control systems.
The sale to Liberty, the Power Dynamics vice president of operations, was in a structured asset purchase, according to the company. The acquisition also involved a strategic business alliance with a private investor who will have an equity stake in the newly formed Power Dynamics Innovations.
Power Dynamics was founded in 1984 and has been based at Stennis Space Center since 1997. Power Dynamics Innovations will continue its business operations out of the Stennis facilities while acquiring additional square footage for expansion of PDI's Horizontal Directional Drilling Rig manufacturing and repair business.
For the past eight years, Liberty has been in charge of the business operations of Power Dynamics and has played an integral part in building it as an industry leader. He has more than 40 years of experience in the industry and is a member of the Iowa Tribe of Kansas and Nebraska.
"Carl's engineering and manufacturing expertise is known and respected throughout the fluid power industry," said Hancock. "We are extremely happy for Carl and our employees. Carl and his Power Dynamics Innovations team will continue the tradition of providing fluid power solutions we started back in 1984."
Liberty said Power Dynamics Innovations will retain all current employees. "We value our people as our greatest resource. There are very few companies out there that can actually manufacture what we can produce. Our team of professionals understands the challenges of the diverse and ever-changing needs of our customers. I am very proud of what we have built here and our employees have been the key to our success," he said.
Over the next few weeks PDI will be updating its business control systems to support the new business entity. "We look forward to our continued business relationships with all of our stakeholders, both customers and our supplier partners," said Liberty.
Check out their website here: http://www.powerdynamics.com/.