Drilling Tools International agrees to buy Saltire Energy, Foxley Energy for $80 million cash plus 17,400,000 shares
Bitget2026/10/08 10:00Drilling Tools International agreed to buy Aberdeen-based Saltire Energy and Foxley Energy for about USD 80 million cash and 17,400,000 shares. Closing targeted for Q1 2027; cash portion expected to be funded with new debt financing and existing credit facility borrowings. Saltire estimated at run-rate 2026 revenue of about USD 50.4 million; Adjusted EBITDA about USD 22.5 million; Adjusted Free Cash Flow USD 15.8 million. Deal expected to lift Eastern Hemisphere exposure from about 18% of revenue in Q2 2026 to about 40% pro forma. Sellers, including the Loggie family, expected to own about 30% of DTI common stock at close; share consideration fixed at 17,400,000 shares. Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Drilling Tools International Corporation published the original content used to generate this news brief via PR Newswire (Ref. ID: 202610080600PR_NEWS_USPR_____DA66557) on October 08, 2026, and is solely responsible for the information contained therein.
- Drilling Tools International agreed to buy Aberdeen-based Saltire Energy and Foxley Energy for about USD 80 million cash and 17,400,000 shares.
- Closing targeted for Q1 2027; cash portion expected to be funded with new debt financing and existing credit facility borrowings.
- Saltire estimated at run-rate 2026 revenue of about USD 50.4 million; Adjusted EBITDA about USD 22.5 million; Adjusted Free Cash Flow USD 15.8 million.
- Deal expected to lift Eastern Hemisphere exposure from about 18% of revenue in Q2 2026 to about 40% pro forma.
- Sellers, including the Loggie family, expected to own about 30% of DTI common stock at close; share consideration fixed at 17,400,000 shares.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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