TIW, also based in Houston, has been in operation for a century and provides liner hanger systems and related equipment and services for the global oil and gas industry. Its product line also includes kelly valves, safety valves and a comprehensive line of packers.
The deal will be funded with cash on hand.
Chief executive Blake DeBerry said the deal will significantly expand Dril-Quip's product offerings and increase the company's long-term value.
