M&A Deal Summary

Drilling Tools Acquires Superior Drilling Products

On March 7, 2024, Drilling Tools acquired energy services and equipment company Superior Drilling Products for 32M USD

Acquisition Highlights
  • This is Drilling Tools’ 1st transaction in the Energy Services and Equipment sector.
  • This is Drilling Tools’ largest (disclosed) transaction.
  • This is Drilling Tools’ 4th transaction in the United States.
  • This is Drilling Tools’ 1st transaction in Utah.

M&A Deal Summary
Date 2024-03-07
Target Superior Drilling Products
Sector Energy Services and Equipment
Buyer(s) Drilling Tools
Deal Type Add-on Acquisition
Deal Value 32M USD
Advisor(s) Piper Sandler & Co. (Financial)
Mayer Brown (Legal)

Target

Superior Drilling Products

Vernal, Utah, United States
website
Superior Drilling Products is a manufacturer and remanufacturer of PDC (polycrystalline diamond compact) drill bits and drill string tools for the oil, natural gas and mining services industries. SDPI operates a technologically-advanced PDC drill bit remanufacturing facility, as well as a state-of-the-art drill tool machining facility. Superior Drilling Products was founded in 1993 and is based in Vernal, Utah.

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Buyer(S) 1

Buyer

Drilling Tools

Houston, Texas, United States

website

Category Company
Founded 1984
Sector Manufacturing
DESCRIPTION

Drilling Tools is a provider of rents tools to major oilfield services companies, directional drilling companies, and exploration and production companies for bottom hole assemblies and tubular goods used in onshore and offshore horizontal and directional drilling. Drilling Tools was founded in 1984 and is based in Houston, Texas.

DEAL STATS #
Overall 4 of 5
Sector (Energy Services and Equipment) 1 of 2
Type (Add-on Acquisition) 3 of 4
State (Utah) 1 of 1
Country (United States) 4 of 4
Year (2024) 1 of 2
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-07-15 WellFence

Houston, Texas, United States

WellFence LLC is a tech-enabled security and credentialing service offering for the oil and gas industry. WellFence provides patented Data Automation Systems and credentialed wellsite access services for drilling, completion and production locations. Using strategically positioned check point towers with 360-degree cameras, the WellFence system automates the verification of personnel entering and exiting the wellsite, thereby increasing the safety and integrity of critical locations. WellFence LLC was founded in 2016 and is based in Houston, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-03-18 Deep Casing Tools

Westhill, United Kingdom

Deep Casing Tools is an oil and gas technology development company providing unique and innovative downhole technology solutions to customers worldwide. Its products facilitate running casing and completion strings to targeted depth reducing well cost and improving well integrity and reservoir contact. Deep Casing Tools was formed in 2008 and is based in Westhill, United Kingdom.

Buy -
Mergr

Product

Company

Legal