Pressure Dynamics purchased by consortium

Pressure Dynamics has been bought out by a consortium, commencing trading as a new entity on 26 July. The company appointed PPB Advisory as receivers and managers on 7 June.

The consortium comprises:

• Derick Markwell, owner, Tensa Equipment
• Bo Szalek, owner, Prime Motion and Control
• Joel Rawlings and Greg Moore, owners, Evolution Resource Group

According to the consortium, it will be business as usual for the company. The company will continue to operate from its existing premises near Perth International Airport and a “large proportion” of the staff will remain.

“The level of support from customers wanting to see Pressure Dynamics back on its feet has been amazing and we will repay this customer loyalty,” said the chairman of the new company, Derick Markwell.

“The Pressure Dynamics Brand and reputation is clearly something to be proud of. Whilst we have great plans for the future, our focus is going to be on efficiency, tight financial management and rebuilding customer relationships in the short term.”