DWS (www.downholewellsolutions.com) designs, manufactures, and rents proprietary downhole drilling optimization tools, including the PowerGLIDE oscillation tool, the RIPstick anti-stall and anti-stick slip tool, and most recently the new PileDRIVER.
DWS engaged ClearRidge to advise them on acquisition strategy. The ClearRidge team managed the process and due diligence. Managing Directors of ClearRidge are registered representatives of M&A Securities Group, member FINRA/SiPC.
DWS will continue to operate as a standalone business under the leadership and majority ownership of Taylor Janca, Chandler Janca and Avinash Cuddapah. DWS are excited to build upon their legacy, grow their operations, and continue working under the DWS name, while partnering with a larger organization.
DWS was formed in 2019 and quickly gained market share with superior tools. DWS had been bootstrapped by the three founders, with no institutional capital and near zero debt. The Company’s exponential growth was a result of the founders’ commitment to designing, engineering and delivering a superior tool and exceptional service. Even with their stretch goals, the growth of the Company and gains in market share, through volatile times in the energy industry, exceeded their expectations. A minority investment in their business by Innovex brings institutional support and additional growth opportunities.
Innovex (www.innovex-inc.com) designs, manufactures, and installs mission-critical drilling and deployment, well construction, completion, production, and fishing and intervention solutions to support upstream onshore and offshore activities worldwide.
According to Innovex, “This investment will establish a partnership that will be beneficial to both Innovex and DWS, as each company will now be able to offer customers a more complete portfolio of differentiated drilling tools. This partnership is expected to foster collaboration between both companies, and we are confident that DWS’ suite of products will strengthen our Drilling Solutions product suite and market position.”
Terms of the transaction are not disclosed.
About Downhole Well Solutions
DWS is a leading provider of proprietary drilling optimization and friction reduction tools that are rented to operators in multiple US Land markets. DWS’ commitment to customer satisfaction and the superior performance of their unique tools have allowed them to quickly capture market share and become one of the premier providers of downhole drilling optimization tools in the US Land market, with an established position in the Permian Basin and an expanding presence in several other markets including the Haynesville, Rockies, and Bakken.
For more information, please visit www.downholewellsolutions.com.
About Innovex
Innovex designs, manufactures, and installs mission-critical drilling and deployment, well construction, completion, production, and fishing and intervention solutions to support upstream onshore and offshore activities worldwide.
Innovex combines best-in-class engineering expertise with a unique blend of conventional, innovative, and proprietary technologies including WearSox® deepwater centralization products, SwivelMASTER® deployment technology, Bubba dissolvable frac plugs, QCI artificial lift technologies, and a full suite of fishing tools.
For more information, please visit www.innovex-inc.com.
About ClearRidge
ClearRidge was founded in 2008 by Bruce Jones and Matthew Bristow to provide business owners in the central U.S. with industry-leading advice and representation. As the most experienced and innovative investment banking firm in the region, ClearRidge has advised on mergers and acquisitions in excess of $1 Billion in transaction value. You can visit their offices in Tulsa, OK, Oklahoma City, OK and Rogers, AR.
For more information, please visit www.clearridgecapital.com.
