The transaction, expected to close in the first quarter of 2027, will see DTI issue 17.4 million shares to the sellers. Upon completion, the Loggie family—founders of the 40-year-old Saltire Energy—will retain a 30% stake in the combined organization. This partnership combines DTI’s wellbore optimization technologies with Saltire’s established rental fleet of drilling tubulars and pressure control equipment currently operating in the North Sea, Middle East, and Asia Pacific regions.

Management expects the acquisition to be immediately accretive to both Adjusted EBITDA margins and Adjusted Free Cash Flow per share. By integrating Saltire’s operations, DTI anticipates its Eastern Hemisphere revenue contribution will climb from 18% to approximately 40% of its total pro forma revenue. Wayne Prejean, Chairman and CEO of DTI, noted that the deal bypasses the years of organic growth required to build such extensive international customer relationships. Mike Loggie, CEO of Saltire, emphasized that the decision to remain a significant shareholder reflects a long-term commitment to the combined business strategy.