Drilling Tools International Corp. finalizes acquisition of Superior Drilling Products, Inc. to expand product offerings and global presence
Acquiring Company
Drilling Tools International Corp
Acquired Company
Superior Drilling Products
HoustonVernalManufacturingEnergyOil And GasManufacturingEnergyOil And GasDescription
Drilling Tools International Corp. (DTI) has entered into a definitive agreement to acquire Superior Drilling Products, Inc. (SDP) for a total consideration of approximately $32.2 million in cash and DTI stock. This strategic acquisition aligns with DTI's goal of broadening its growth opportunities, especially in the Middle East, and leveraging SDP's expertise in well bore conditioning technology to enhance its product portfolio. The acquisition is expected to drive innovation and deliver manufacturing and distribution savings while increasing shareholder value.
Quick answer
Drilling Tools International Corp is acquiring Superior Drilling Products, announced March 7, 2024. Drilling Tools International Corp is based in Houston, Texas, United States.
- How much did Drilling Tools International Corp pay for Superior Drilling Products?
- The deal value was not disclosed.
- What does Drilling Tools International Corp do?
- Drilling Tools International Corp. (DTI) is a leading oilfield services company based in Houston, Texas, with a history dating back to 1984.
- Where are Drilling Tools International Corp and Superior Drilling Products based?
- Drilling Tools International Corp is based in Houston, Texas, United States. Superior Drilling Products is based in Vernal, Utah, United States.
- Who are the decision-makers at Drilling Tools International Corp?
- Fundz holds 1 contact at Drilling Tools International Corp. Names and contact details are shown to Fundz members.
Source: Fundz verified event record.
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When Drilling Tools International Corp changes hands, the new owners review vendors, systems and leadership. That is when the door opens.
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Frequently asked
Who acquired Superior Drilling Products?
Superior Drilling Products was acquired by Drilling Tools International Corp, based in Houston. The deal was reported on March 7, 2024. Drilling Tools International Corp. (DTI) is a leading oilfield services company based in Houston, Texas, with a history dating back to 1984. Drilling Tools International Corp is publicly traded (DTI) and operates in Manufacturing.
When did Drilling Tools International Corp acquire Superior Drilling Products?
Drilling Tools International Corp's acquisition of Superior Drilling Products was reported on March 7, 2024. Drilling Tools International Corp. (DTI) has entered into a definitive agreement to acquire Superior Drilling Products, Inc. (SDP) for a total consideration of approximately $32.2 million in cash and DTI stock. Fundz records the date the transaction was first publicly reported, sourced from filings and company announcements.
What does Superior Drilling Products do?
Superior Drilling Products, Inc. (SDP) is an innovative drilling tool technology company that provides cost-saving solutions for the oil and gas industry. With cutting-edge technology, SDP focuses on driving production efficiencies. It is privately held, operating in Manufacturing, and is based in Vernal.
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