Drilling Tools International Corp. Completes Acquisition of UK-Based Titan Tools Services Ltd.
Drilling Tools International Corp. (NASDAQ: DTI) has completed its acquisition of Titan Tools Services , a UK-based downhole tool rental company, on January 2, 2025. The acquisition, previously announced on October 31, 2024, strengthens DTI's 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. The integration is expected to enhance DTI's technological capabilities and expand its geographical footprint.
Key benefits include expanded market presence, enhanced downhole drilling tool capabilities, access to Titan's materials and tool design expertise, strengthened customer relationships, and accelerated market adoption for innovative tools like the Drill-N-Ream® and Fixedblade® stabilizer. The integration process will begin immediately, focusing on business continuity and leveraging synergies between both companies.
Drilling Tools International Corp. (NASDAQ: DTI) ha completato l'acquisizione di Titan Tools Services, un'azienda britannica specializzata nel noleggio di attrezzature per perforazioni, il 2 gennaio 2025. L'acquisizione, annunciata in precedenza il 31 ottobre 2024, rafforza la presenza di DTI nei mercati del Mare del Nord, europei e africani.
Titan, fondata nel 2009 e con sede ad Aberdeen, Scozia, è specializzata nel noleggio, nella manutenzione e nella produzione di attrezzature per perforazioni avanzate per i settori petrolifero, del gas e geotermico. L'integrazione dovrebbe migliorare le capacità tecnologiche di DTI e ampliare la sua presenza geografica.
I principali vantaggi includono un'espansione della presenza sul mercato, capacità migliorate degli strumenti di perforazione in profondità, accesso ai materiali e all'expertise nel design degli strumenti di Titan, rafforzamento delle relazioni con i clienti e accelerazione dell'adozione di strumenti innovativi come il Drill-N-Ream® e il stabilizzatore Fixedblade®. Il processo di integrazione inizierà immediatamente, concentrandosi sulla continuità aziendale e sfruttando le sinergie tra le due aziende.
Drilling Tools International Corp. (NASDAQ: DTI) ha completado la adquisición de Titan Tools Services, una empresa de alquiler de herramientas de perforación con sede en el Reino Unido, el 2 de enero de 2025. La adquisición, anunciada anteriormente el 31 de octubre de 2024, fortalece la presencia de DTI en los mercados del Mar del Norte, europeos y africanos.
Titan, establecida en 2009 y con sede en Aberdeen, Escocia, se especializa en el alquiler, servicio y fabricación de equipos de perforación avanzados para las industrias del petróleo, gas y geotérmica. Se espera que la integración mejore las capacidades tecnológicas de DTI y expanda su huella geográfica.
Los beneficios clave incluyen una presencia de mercado ampliada, capacidades mejoradas de herramientas de perforación en profundidad, acceso a los materiales y experiencia en diseño de herramientas de Titan, relaciones con los clientes fortalecidas y una adopción acelerada de herramientas innovadoras como el Drill-N-Ream® y el estabilizador Fixedblade®. El proceso de integración comenzará de inmediato, centrado en la continuidad del negocio y aprovechando las sinergias entre ambas empresas.
드릴링 툴스 인터내셔널 컴퍼니(삼성: DTI)는 2025년 1월 2일 영국에 본사를 둔 다운홀 장비 대여 회사인 타이탄 툴스 서비스의 인수를 완료했습니다. 이 인수는 2024년 10월 31일에 발표되었으며, DTI의 북해, 유럽 및 아프리카 시장에서의 입지를 강화합니다.
2009년에 설립된 타이탄은 스코틀랜드 애버딘에 본사를 두고 있으며, 석유, 가스 및 지열 산업을 위한 첨단 드릴링 장비의 대여, 서비스 및 제조를 전문으로 합니다. 이번 통합은 DTI의 기술적 능력을 향상시키고 지리적 범위를 확장할 것으로 기대됩니다.
주요 이점으로는 시장 존재감 확대, 다운홀 드릴링 도구 능력 향상, 타이탄의 자재 및 도구 설계 전문성 접근, 고객 관계 강화, Drill-N-Ream® 및 Fixedblade® 안정기와 같은 혁신적 도구의 시장 채택 가속화가 포함됩니다. 통합 프로세스는 즉시 시작되며, 비즈니스 연속성에 집중하고 두 회사 간의 시너지를 활용할 것입니다.
Drilling Tools International Corp. (NASDAQ: DTI) a finalisé l'acquisition de Titan Tools Services, une entreprise britannique de location d'outils de forage, le 2 janvier 2025. L'acquisition, annoncée précédemment le 31 octobre 2024, renforce la présence de DTI sur les marchés de la mer du Nord, européen et africain.
Titan, fondée en 2009 et basée à Aberdeen, en Écosse, se spécialise dans la location, l'entretien et la fabrication d'équipements de forage avancés pour les industries pétrolière, gazière et géothermique. On s'attend à ce que l'intégration améliore les capacités technologiques de DTI et élargisse son empreinte géographique.
Les avantages clés incluent une présence sur le marché élargie, des capacités améliorées des outils de forage en profondeur, un accès aux matériaux et à l'expertise de conception d'outils de Titan, des relations clients renforcées et une adoption accélérée des outils innovants comme le Drill-N-Ream® et le stabilisateur Fixedblade®. Le processus d'intégration commencera immédiatement, en se concentrant sur la continuité des activités et en tirant parti des synergies entre les deux entreprises.
Drilling Tools International Corp. (NASDAQ: DTI) hat am 2. Januar 2025 die Übernahme von Titan Tools Services, einem britischen Unternehmen für die Vermietung von Tiefenwerkzeugen, abgeschlossen. Die Übernahme, die zuvor am 31. Oktober 2024 angekündigt wurde, stärkt DTIs Präsenz auf den Märkten der Nordsee, in Europa und Afrika.
Titan, 2009 gegründet und mit Sitz in Aberdeen, Schottland, ist auf die Vermietung, Wartung und Herstellung von modernen Bohrgeräten für die Öl-, Gas- und Geothermie-Industrie spezialisiert. Die Integration wird voraussichtlich die technologischen Fähigkeiten von DTI verbessern und seine geografische Reichweite erweitern.
Wesentliche Vorteile sind eine erweiterte Marktpräsenz, verbesserte Möglichkeiten bei der Bereitstellung von Bohrwerkzeugen, Zugang zu Titans Materialien und Fachwissen im Werkzeugdesign, stärkere Kundenbeziehungen sowie eine beschleunigte Markteinführung innovativer Werkzeuge wie dem Drill-N-Ream® und dem Fixedblade®-Stabilisator. Der Integrationsprozess wird umgehend beginnen und sich auf die Geschäftskontinuität konzentrieren und Synergien zwischen beiden Unternehmen nutzen.
- Strategic expansion into North Sea, European, and African markets
- Access to Titan's advanced drilling technology and expertise
- Enhanced product portfolio with additional drilling tool capabilities
- Potential for accelerated market adoption of innovative tools
- Immediate access to established customer relationships in new regions
- None.
Insights
The acquisition of Titan Tools Services represents a strategic expansion in DTI's global footprint, particularly strengthening their position in the North Sea, European and African markets. The deal enhances DTI's rental-focused business model and technological capabilities in the drilling tools sector. For a company with a market cap of
The integration synergies appear promising, combining DTI's established North American presence with Titan's European expertise. This move particularly benefits DTI's proprietary technologies like Drill-N-Ream® and Fixedblade® stabilizer by providing new distribution channels. Key value drivers include geographical diversification, technical knowledge transfer and expanded customer relationships in high-potential markets.
Think of this acquisition as adding a important puzzle piece that completes DTI's global coverage map while simultaneously upgrading their technological toolkit. For investors, this represents a potential catalyst for growth through market expansion and enhanced service capabilities.
This acquisition is particularly well-timed given the current dynamics in the global drilling market. The North Sea remains a critical region for offshore drilling activities and having a strong presence there through Titan's Aberdeen base provides DTI with strategic advantages. The deal enhances DTI's ability to serve the growing geothermal sector, which is seeing increased activity in Europe.
The integration of Titan's expertise in materials and tool design could be transformative for DTI's product development pipeline. This is especially relevant as the industry moves toward more sophisticated drilling technologies and automation. The combined entity will be better positioned to address the increasing technical demands of modern drilling operations, particularly in challenging offshore environments.
Completed acquisition bolsters DTI's technological capabilities and service offerings, creating a comprehensive solution provider for the global drilling industry
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
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
Key benefits of the acquisition include:
- Expanded geographical presence in key markets
- Enhanced technological capabilities in downhole drilling tools
- Access to Titan's cutting-edge materials and tool design expertise
- Strengthened customer relationships in strategic regions
- Acceleration of market adoption for innovative tools like the Drill-N-Ream® and Fixedblade® stabilizer
Bruce Jepp, Managing Director of Titan, added, "Joining forces with DTI opens up exciting opportunities for our team and customers. Our shared commitment to technological advancement and exceptional customer service will enable us to provide comprehensive solutions across the well life cycle."
The integration of Titan into DTI's operations is expected to begin immediately, with a focus on maintaining business continuity and leveraging synergies between the two companies.
About Drilling Tools International Corp.
DTI is a
Contact:
DTI Investor Relations
Ken Dennard / Rick Black
InvestorRelations@drillingtools.com
Forward-Looking Statements
This press release may include, and oral statements made from time to time by representatives of the Company may include, "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Statements other than statements of historical fact included in this press release are forward-looking statements. The words "anticipate," "believe," "continue," "could," "estimate," "expect," "intends," "may," "might," "plan," "possible," "potential," "predict," "project," "should," "will," "would" and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward looking. These forward-looking statements include, but are not limited to, statements regarding DTI and its management team's expectations, hopes, beliefs, intentions or strategies regarding the future. In addition, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. Forward looking statements in this press release may include, for example, statements about: (1) the demand for DTI's products and services, which is influenced by the general level activity in the oil and gas industry; (2) DTI's ability to retain its customers, particularly those that contribute to a large portion of its revenue; (3) DTI's ability to employ and retain a sufficient number of skilled and qualified workers, including its key personnel; (4) DTI's ability to source tools and raw materials at a reasonable cost; (5) DTI's ability to market its services in a competitive industry; (6) DTI's ability to execute, integrate and realize the benefits of acquisitions, and manage the resulting growth of its business; (7) potential liability for claims arising from damage or harm caused by the operation of DTI's tools, or otherwise arising from the dangerous activities that are inherent in the oil and gas industry; (8) DTI's ability to obtain additional capital; (9) potential political, regulatory, economic and social disruptions in the countries in which DTI conducts business, including changes in tax laws or tax rates; (10) DTI's dependence on its information technology systems, in particular Customer Order Management Portal and Support System (Compass) for the efficient operation of DTI's business; (11) DTI's ability to comply with applicable laws, regulations and rules, including those related to the environment, greenhouse gases and climate change; (12) DTI's ability to maintain an effective system of disclosure controls and internal control over financial reporting; (13) the potential for volatility in the market price of DTI's common stock; (14) the impact of increased legal, accounting, administrative and other costs incurred as a public company, including the impact of possible shareholder litigation; (15) the potential for issuance of additional shares of DTI's common stock or other equity securities; (16) DTI's ability to maintain the listing of its common stock on the Nasdaq Stock Market; (17) the risks that the cost savings and other synergies from the transaction may not be fully realized by DTI or may take longer or cost more to be realized than expected; and (18) other risks and uncertainties separately disclosed and described in filings and potential filings by DTI with the Securities and Exchange Commission (the "SEC"). Investors should carefully consider the risks and uncertainties described in DTI's annual report on Form 10–K filed March 29, 2024 (the "10–K"). Such forward-looking statements are based on the beliefs of management of DTI, as well as assumptions made by, and information currently available to DTI's management. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors detailed in the 10-K. All subsequent written or oral forward-looking statements attributable to the Company or persons acting on its behalf are qualified in their entirety by this paragraph. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of each of DTI, including those set forth in the Risk Factors section of the 10-K. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.
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SOURCE Drilling Tools International Corp.
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