Innovex International completed the sale of its subsea tree product line to Trendsetter Engineering. (Source: Shutterstock.com)
Innovex International completed the sale of its subsea tree product line to Trendsetter Engineering.
The product line produces less than 1% of Innovex’s total revenue as of the first quarter of 2025. Trendsetter Engineering completed the acquisition in an all-cash transaction, though the financial terms were not disclosed.
Innovex will keep the intellectual property rights to its recently deployed VXTe subsea tree orientation systems, with plans to license this technology to subsea tree manufacturers.
“This divestment enables Innovex to focus on core product lines within its subsea portfolio improving customer responsiveness and delivering superior growth, cash flow and returns for our shareholders,” said Adam Anderson, CEO of Innovex.”
Innovex designs, manufactures, sells and rents downhole tools and well-related technologies for the oil and gas sector. The Houston-based firm was formed in 2024 through the merger of Dril-Quip Inc. and Innovex Downhole Solutions.
Privately held Trendsetter Engineering designs and builds custom subsea manifolds and connection systems, critical equipment used on the seafloor to control and direct the flow of oil and gas from wells to production facilities.
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