HOUSTON--Innovex International, Inc. (NYSE: INVX) has announced the completion of its acquisition of Citadel Casing Solutions, LLC. The acquisition aligns with Innovex's strategy to expand its platform through highly engineered, single-use products with a "Big Impact, Small Ticket" value proposition. Citadel, founded in 2016, is known for its differentiated downhole technologies that enhance operational efficiencies and reduce cycle times for customers. Innovex CFO Kendal Reed highlighted that the transaction is highly accretive to earnings and cash flow per share, and it was executed as an all-cash transaction while maintaining a conservative leverage profile. Todd Stair, CEO of Citadel, expressed enthusiasm about the growth opportunities under the Innovex brand, citing complementary product offerings and geographical reach.
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