On July 17, 2024, HMH Holdings B.V. announced the acquisition of Drillform Technical Services Ltd., a Calgary-based company with additional facilities in Tulsa, Oklahoma, and Abu Dhabi, UAE. Drillform, known for its patented equipment used in handling drill pipes during drilling operations, has a substantial installed base of automated floor wrenches and catwalks. The transaction's financial details were not disclosed.

Eirik Bergsvik, CEO of HMH, expressed enthusiasm about the acquisition, highlighting that Drillform's technologies are pivotal to HMH’s growth strategy, particularly in expanding onshore capabilities and enhancing drilling safety and performance. Todd McCorriston, CEO of Drillform, echoed this sentiment, emphasizing the synergistic potential of combining Drillform’s advanced technology with HMH’s established manufacturing prowess.

The transaction was supported by legal and financial advisors. Osler, Hoskin & Harcourt LLP acted as the legal advisor for HMH. Drillform's financial advisor was PPHB, while their legal matters were handled by Gowlings WLG. This strategic acquisition marks a significant step for HMH in fortifying its position in the automated drilling tools market.