Innovex To Acquire TCO Group For $95 Mln; Shares Down

India, June 15 -- On Monday, Innovex International, Inc. (INVX), an oil and energy company, announced that it has signed an agreement to acquire TCO Group AS in a cash and stock transaction valued at $95 million.

On the NYSE, the shares of Innovex were trading 3.87 percent lower at $28.31.

The investment is expected to be aligned with its disciplined M&A framework, Innovex said.

For the year ended December 31, 2025, TCO had net income of approximately $12 million and Adjusted EBITDA of approximately $18 million. The transaction price is approximately 5.4 times TCO's 2026 Adjusted EBITDA and is expected to be accretive to earnings per share.

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