Drilling Tools International to List on Nasdaq via Business Combination with ROC Energy Acquisition Corp.
February 14, 2023
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.
- Buyers
- ROC Energy Acquisition Corp., Fifth Partners
- Targets
- Drilling Tools International
- Industry
- Energy
- Location
- Texas, United States
- Transaction Type
- Buyout
Explore More
Related Acquisitions
-
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.
-
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.
-
Drilling Tools International Acquires Superior Drilling Products
March 7, 2024
Manufacturing
Drilling Tools International Corp. (DTI) agreed to acquire Superior Drilling Products, Inc. (SDP/SDPI) for approximately $32.2 million in cash and DTI stock, a deal approved by both companies' boards and expected to close in Q3 2024. The transaction brings SDP's Drill‑N‑Ream technology, PDC bit manufacturing and engineering capabilities into DTI to expand product offerings, capture manufacturing and distribution synergies, and support expansion—particularly in the Middle East.
-
OCI Acquires DRILLTOOLS
September 27, 2024
Manufacturing
OCI, LLC, a Brookville, Pennsylvania-based manufacturer and portfolio company of Grand Valley Holdings and Gemspring Capital, has acquired DRILLTOOLS, a Kilgore, Texas-based manufacturer of rotary drilling tools and excavation products. The acquisition expands OCI's product suite, manufacturing capabilities, and technical expertise to better serve infrastructure, utility, and commercial contractors; DRILLTOOLS will continue to operate from its Texas headquarters.
-
TRP Capital Acquires Diversified Technologies International (DTI)
September 7, 2021
Automotive
TRP Capital partnered with DTI co-founders Chris Wiegel and Kurt Saldana to acquire Diversified Technologies International (DTI) as a new platform investment for TRP V. DTI is an asset-light provider of supply chain and program management for tooling design and manufacturing serving automotive OEMs and Tier 1 suppliers; TRP expects to add value via customer growth and infrastructure support.
-
Bottle Rocket and DTI Digital Merge to Create Global Digital Transformation Partner
May 23, 2025
IT Services
Bottle Rocket (Dallas) and DTI Digital (Belo Horizonte) announced a merger effective January 1, 2025, combining their digital product, design, cloud engineering and enterprise consulting capabilities while maintaining their existing brand operations. The union creates a larger global digital transformation partner with expanded nearshore delivery capacity and broader experience- and enterprise-transformation services for enterprise clients.
Track M&A activity that matters to you
Get real-time deal alerts, build buyer lists with AI, and access our full acquisition database. Start your free trial today.