Drilling Innovative Solutions Acquisition | Industrials Deal in TX

Innovex International, Inc. has completed the acquisition of Drilling Innovative Solutions, LLC, an industrial services other business in Texas, for $16 million. Drilling Innovative Solutions provides drilling-focused production technologies that complement Innovex’s subsea and offshore equipment portfolio and support growth in the U.S. offshore market. The add on acquisition strengthens Innovex’s integrated industrials M&A platform and expands capabilities for mudline wellhead and shallow water tree systems. The strategic acquisition was structured as a closed add on acquisition, with Innovex paying about 4x TTM EBITDA for the TX acquisitions target.