Dril-Quip, a developer, manufacturer and provider of highly engineered equipment and services for the global offshore and onshore oil and gas industry, agreed to merge with Innovex, a global provider of mission-critical technologies and services across the well lifecycle for the oil and gas industry. Upon closing of the transaction, Dril-Quip stockholders will own approximately 52% and Innovex stockholders will own approximately 48% of the combined company on a fully diluted basis. “We are bringing together the great traditions and capabilities of Dril-Quip with Innovex’s proven operating model. By empowering the combined organization using Innovex’s collaborative ‘No Barriers’ culture, we will unleash the capabilities of the combined company to create a unique energy industrial platform with durable margins, low capital intensity and the potential for superior returns on capital throughout industry cycles,” Adam Anderson, Innovex CEO.