Innovex Downhole Acquires Rubicon Oilfield International

Updated 6 months 1 week ago

Innovex entered a definitive agreement in November 2020 to acquire Rubicon with closing expected in early 2021. Terms of the transaction were not disclosed. Rubicon was formed in 2015 with $300 million in funding from Warburg Pincus. Tercel Oilfield Products, Waal King, Cauldron Oil Tools, Logan Oil Tools, and Top-Co were acquired in 2016. In 2017, Choice Completions Systems and World Oil Tools were acquired.

Adam Anderson, Innovex CEO

I have a great deal of respect for the people, culture and products at Rubicon, and believe the transaction will enable the combined business to thrive. The increased scale, distribution network and broader product offering will significantly enhance value for our employees, customers and shareholders.