Innovex to acquire TCO Group for $95M; expects 13% EPS accretion, 14% ROCE

Innovex International, Inc.

Purchase price ~$95M: $30M in stock (~1.06M shares at ~$28.20 VWAP) and $65M cash.
TCO Group FY2025 revenue ~$70M, net income $12.4M, Adjusted EBITDA $17.6M (25% margin).
Closing expected early Q3 2026; seller has 6-month lock-up on consideration shares.
Transaction expected ~13% accretive to Innovex EPS (based on 2025 pro forma).
TCO Group provides well completion tools, including barrier plugs, perforating services, chemical injection systems.

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