Global oilfield services provider Drilling Tools International signed a definitive agreement to acquire Titan Tools Services, a UK-based downhole tool rental company. Leading the legal representation for DTI is law firm Winston & Strawn; its team of experts in cross-border transactions has been integral in facilitating the deal.
The acquisition is expected to close in Q1/25 following regulatory approvals. With Titan’s established customer relationships and expertise in downhole tools, DTI aims to deliver an expanded suite of solutions tailored for both onshore and offshore drilling operations worldwide.
Winston & Strawn’s legal team, led by Houston-based partner Mike Blankenship, played a central role in orchestrating the transaction. The Winston deal team includes Houston associates Jon Bodle, Matthew Regens, Drew Pierce, Riley Doggett, and John Niedzwiecki; Miami-based partner Jeff Rubinger; London partner Nicholas Usher; and Houston of Counsel Ben Smolij.
“This strategic acquisition aligns perfectly with our global growth strategy,” Wayne Prejean, CEO of DTI, said. “Titan’s strong presence in the UK North Sea, Europe and Africa will allow us to better serve our international customers. By combining our expertise in downhole drilling tools with Titan’s commitment to service and support, we’ll be able to offer a more comprehensive suite of solutions to the oil and gas and geothermal drilling industries worldwide.”
“Joining forces with DTI significantly expands our global reach and enhances our ability to serve the oil and gas and geothermal drilling industries worldwide,” Bruce Jepp, managing director of Titan Tools Services, said. “Together, we’ll accelerate market adoption of tools like the Drill-N-Ream and Fixedblade stabilizer, setting new industry standards.”
