Dril-Quip informed it has completed its previously announced acquisition of TIW Corporation.
Dril-Quip entered into an agreement to acquire TIW Corporation in October this year for approximately $143 million.
Blake DeBerry , president and CEO of Dril-Quip, said: “We are excited to complete the acquisition of TIW Corporation, the first in Dril-Quip’s history, and welcome TIW employees to the Dril-Quip team. In addition to expanding our offshore and onshore market opportunities, this transaction allows us to significantly expand our product offerings to our customers.”
TIW, based in Houston, Texas, is a provider of liner hanger systems and related equipment and services.