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Innovex International, Inc. and Dril-Quip Complete Merger to Form Unique Energy Industrial Platform

Sep 06, 2024•over 1 year ago

Acquiring Company

Innovex International

Acquired Company

Dril-Quip

HoustonHoustonOil And GasEnergyManufacturing

Description

Dril-Quip, Inc., a leading developer, manufacturer, and provider of highly engineered equipment and services for the global offshore and onshore oil and gas industry, has completed the merger with Innovex Downhole Solutions, Inc. The combined company, now known as Innovex International, Inc., aims to create a differentiated business with a curated portfolio of technologies to support customers throughout the well’s lifecycle, driving efficiency, lowering costs, and reducing the rig site service footprint for the customer.

Company Information

Company

Innovex International

Location

Houston, Texas, United States

About

Innovex International, Inc. is a Houston-based company established in 2024 following the merger of Dril-Quip, Inc and Innovex Downhole Solutions. With a comprehensive portfolio extending throughout the lifecycle of the well, Innovex offers innovative product integration to ensure seamless transitions from one well phase to the next, driving efficiency, lowering cost, and reducing the rig site service footprint for the customer. The company has locations throughout North America, Latin America, Europe, the Middle East, and Asia, providing technical expertise, conventional and innovative technologies, and ever-present customer service.

M&A Insights

Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed