Mergers & Acquisitions ·
On June 15, 2026, Innovex International, Inc. entered into a Share Purchase Agreement to acquire TCO Group AS from…
INVXInnovex International, Inc.
On June 15, 2026, Innovex International, Inc. entered into a Share Purchase Agreement to acquire TCO Group AS from Rieber & Søn AS for approximately $95 million. The purchase price consists of $65 million in cash and $30 million in newly-issued common stock, totaling approximately 1,063,829 shares priced at $28.20 per share. TCO Group reported 2025 revenue of $70 million, net income of $12 million, and Adjusted EBITDA of $18 million. The transaction is expected to be 13% accretive to Innovex's EPS and close in early Q3 2026. The seller is subject to a six-month lock-up period on the consideration shares. Innovex operates in the oil and gas industry, providing equipment, tools, and services for well completion and testing.