OCI Acquires DRILLTOOLS

Grand Valley Holdings and Gemspring Capital Acquire OCI

September 27, 2023

Manufacturing

Grand Valley Holdings and an affiliate of Gemspring Capital Management have acquired OCI, LLC, a Brookville, Pennsylvania-based manufacturer of custom foundation drilling components serving infrastructure and construction/geotechnical contractors. Gemspring's investment was made through Gemspring Growth Solutions I as a flexible, non-control capital partner; financial terms were not disclosed. The company, founded in 1998, has more than 70 employees and the buyers plan to expand OCI's footprint and service offerings.

OCI Merges with GMS Piling

August 5, 2025

Manufacturing

OCI, a portfolio company of Gemspring Capital (and Grand Valley Holdings per one release), has merged with GMS Piling Products, a Wilkes-Barre, Pennsylvania-based manufacturer of steel micropiles and deep-foundation products. The transaction (terms not disclosed) creates an integrated platform with four U.S. manufacturing facilities, expanding OCI's product portfolio, coast-to-coast capabilities and micropile fabrication capacity.

Drilling Tools International Corp. Acquires Titan Tools Services Ltd.

January 2, 2025

Energy

Drilling Tools International Corp. (DTI) completed the acquisition of UK-based Titan Tools Services Ltd., a downhole tool rental and manufacturing specialist based in Aberdeen, Scotland. The deal expands DTI's technological capabilities and strengthens its presence in the UK North Sea, Europe and African markets while adding Titan's rental fleet, materials expertise and customer relationships.

Walter Surface Technologies Acquires Drillco and Triumph Twist Drill

December 31, 2020

Manufacturing

Walter Surface Technologies, a portfolio company backed by ONCAP, has acquired Drillco and Triumph Twist Drill to expand its cutting-tool and drilling solutions offering. CriticalPoint acted as buy-side advisor to Walter and sourced the opportunity.

Drilling Tools International to List on Nasdaq via Business Combination with ROC Energy Acquisition Corp.

February 14, 2023

Energy

Drilling Tools International (DTI) completed a business combination with ROC Energy Acquisition Corp., becoming a publicly traded company on Nasdaq under the ticker DTI. The transaction implied a pro forma enterprise value of approximately $319 million, included PIPE participation (notably by Fifth Partners), and provided capital to support DTI's growth and M&A-driven consolidation strategy while existing shareholders (including an affiliate of Hicks Equity Partners) rolled a majority of their equity into the combined company.

Drilling Tools International Acquires Deep Casing Tools

March 18, 2024

Oil & Gas

Drilling Tools International Corp. (DTI) has completed the acquisition of UK-based Deep Casing Tools (DCT), a developer and manufacturer of patented downhole drilling and casing-running technologies. Financial terms were not disclosed; Energy Ventures III LP, the largest shareholder in DCT, will exit on closing. The deal expands DTI's product capabilities and international footprint, with particular emphasis on the Middle East.