Dril-Quip Inc. (NYSE: DRQ) has completed its previously announced acquisition of TIW Corp., according to a news release.
Houston-based TIW is a global provider of liner hanger systems and related equipment and services.
Dril-Quip, also based in Houston, announced on Oct. 17 that it would acquire the company for $143 million. The deal marks the first acquisition in Drip-Quip’s history.
“In addition to expanding our offshore and onshore market opportunities, this transaction allows us to significantly expand our product offerings to our customers,” Dril-Quip CEO Blake DeBerry said in the release.
RELATED: Land Ho! Dril-Quip Comes Ashore In $143 Million Deal
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