STENNIS SPACE CENTER, Miss., July 10, 2015 /PRNewswire/ -- Power Dynamics LLC, an industry leader in Fluid Power Systems sells to Carl Liberty, becoming Power Dynamics Innovations LLC.
PDI provides custom built horizontal directional drilling units (HDD), hydraulic power units (HPUs), Winch and Pipeline Tensioning equipment, including its own line of 50-, 80-, and 100-KIP track-type tensioners, pipe handling systems, conveyor systems, cable pulling units, constant tension winches and electronic / PLC control systems. On June 30, 2015, Robert Hancock, Power Dynamics LLCowner and founder, announced that PDI was sold to Carl Liberty, Power Dynamics Vice President of Operations, in a "Structured Asset Purchase". The acquisition by Mr. Liberty also involved a strategic business alliance with a private investor who will have an equity stake in the newly formed company, Power Dynamics Innovations LLC. With the asset sale, the newly formed company will continue providing worldwide engineering and manufacturing solutions to the fluid power industry.
Power Dynamics LLC was founded in 1984 and has been based in Stennis Space Center, Mississippi since 1997. Power Dynamics Innovations LLC (PDI LLC) 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. PDI manufactures a line of 500K, 750K and 1M "Maxi" HDD Drilling rigs. For the past eight years, Carl Liberty has been in charge of the business operations of Power Dynamics LLC and has played an integral part in building Power Dynamics to its position as an industry leader. "Carl's engineering and manufacturing expertise is known and respected throughout the fluid power industry", says Robert Hancock. He is happy to be passing the ownership torch on the Carl Liberty and his strategic business partner. "We are extremely happy for Carl and our employee's. Carl and his Power Dynamics Innovations LLC team will continue the tradition of providing fluid power solutions we started back in 1984", adds Hancock.
With the asset purchase Power Dynamics Innovations will retain all current employees; "We value our people as our greatest resource", says Carl Liberty. Liberty goes on to say, "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".
Over the next few weeks PDI LLC will be updating its business control systems to support the new business entity. Through this transition period we will be contacting our Customers, Clients and Suppliers regarding the new ownership. "We look forward to our continued business relationships with all of our stakeholders both Customers and our Supplier Partners."
Carl Liberty has over 40 years of experience in the industry and is a member of the Iowa Tribe of Kansas and Nebraska.
Member and Manager
Power Dynamics Innovations LLC
SOURCE Power Dynamics LLC