Drilling Tools International Corp. announced on October 31, 2024, that it signed a definitive agreement on October 29, 2024, to acquire Titan Tools Services Ltd., a UK-based downhole tool rental company. The financial terms of the acquisition were not disclosed.
This strategic acquisition aligns with DTI's global growth strategy, aiming to strengthen its presence in the UK North Sea, European, and African markets. The combination of expertise is expected to allow DTI to offer a more comprehensive suite of solutions to the oil and gas and geothermal drilling industries worldwide.
The transaction is expected to close in the first quarter of 2025, subject to customary closing conditions and regulatory approvals. This move is anticipated to expand DTI's geographical footprint and enhance its technological capabilities, positioning it as a leader in the evolving energy landscape.
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