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NEWS
Drilling Tools International Corp. Completes Acquisition of UK-Based Titan Tools Services Ltd.
Thursday, 2nd January at 4:15 pm
Completed acquisition bolsters DTI's technological capabilities and service offerings, creating a comprehensive solution provider for the global drilling industry
HOUSTON, Jan. 2, 2025 /PRNewswire/ -- Drilling Tools International Corp., (NASDAQ: DTI) ("DTI" or the "Company"), a global oilfield services company that designs, engineers, manufactures and provides a differentiated, rental-focused offering of tools for use in onshore and offshore drilling operations, as well as other cutting-edge solutions across the well life cycle, today announced the successful completion of its previously announced acquisition of Titan Tools Services Ltd. ("Titan"), a UK-based downhole tool rental company. The transaction, which was finalized on January 2, 2025, marks a significant milestone in DTI's global growth strategy.
As previously reported on October 31, 2024, this acquisition enhances DTI's product offerings and strengthens its presence in the North Sea, European, and African markets. Titan, established in 2009 and based in Aberdeen, Scotland, specializes in renting, servicing, and manufacturing advanced drilling equipment for the oil, gas, and geothermal industries.
Wayne Prejean, CEO of DTI, stated, "We are thrilled to officially welcome Titan Tools to the DTI family. This strategic move significantly expands our international footprint, particularly in the UK North Sea, Europe, and Africa. Titan's technical expertise and established customer relationships perfectly complement our existing operations, allowing us to offer a more comprehensive suite of solutions to our global clientele."
Thursday, 2nd January at 4:15 pm
Completed acquisition bolsters DTI's technological capabilities and service offerings, creating a comprehensive solution provider for the global drilling industry
HOUSTON, Jan. 2, 2025 /PRNewswire/ -- Drilling Tools International Corp., (NASDAQ: DTI) ("DTI" or the "Company"), a global oilfield services company that designs, engineers, manufactures and provides a differentiated, rental-focused offering of tools for use in onshore and offshore drilling operations, as well as other cutting-edge solutions across the well life cycle, today announced the successful completion of its previously announced acquisition of Titan Tools Services Ltd. ("Titan"), a UK-based downhole tool rental company. The transaction, which was finalized on January 2, 2025, marks a significant milestone in DTI's global growth strategy.
As previously reported on October 31, 2024, this acquisition enhances DTI's product offerings and strengthens its presence in the North Sea, European, and African markets. Titan, established in 2009 and based in Aberdeen, Scotland, specializes in renting, servicing, and manufacturing advanced drilling equipment for the oil, gas, and geothermal industries.
Wayne Prejean, CEO of DTI, stated, "We are thrilled to officially welcome Titan Tools to the DTI family. This strategic move significantly expands our international footprint, particularly in the UK North Sea, Europe, and Africa. Titan's technical expertise and established customer relationships perfectly complement our existing operations, allowing us to offer a more comprehensive suite of solutions to our global clientele."
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