Innovex Downhole Solutions, which provides engineered well products for the oil and natural gas industry, filed on Friday with the SEC to raise up to $100 million in an initial public offering.
Innovex designs, manufactures, sells, and rents mission critical engineered products to the global oil and natural gas industry. Its products are used across the lifecycle of the well (during the construction, completion, production, and intervention phases) and are typically utilized downhole and consumable in nature. Innovex sold its products in approximately 65 countries in 2022.
The Humble, TX-based company was formed in 2016 and booked $550 million in revenue for the 12 months ended September 30, 2023. It plans to list on the NYSE under the symbol INVX. Innovex Downhole Solutions filed confidentially on September 11, 2023. Goldman Sachs, Piper Sandler, J.P. Morgan, Barclays, Citi, Evercore ISI, and Pickering Energy Partners are the joint bookrunners on the deal. No pricing terms were disclosed.
