March 10, 2014
Private equity firm Hicks Equity Partners, Dallas, has announced that its portfolio company, Directional Rentals Inc., has acquired Reamco Inc., a company based in Lafayette, La., that manufactures, rents, and refurbishes downhole drilling tools and related products used in the drilling industry. Directional Rentals has been renamed Drilling Tools Intl.
Through this acquisition, DTI, based in Houston, has expanded its machining capabilities and shortened turnaround time. Reamco maintains certifications from the American Petroleum Institute (API) and is ISO certified.