Innovex completes divestment of subsea tree product line
Published by Alfred Hamer,
Editorial Assistant
Oilfield Technology,
Innovex International, Inc., a provider of products and technologies to the oil and gas industry, has announced that it has completed the divestment of its Subsea Tree product line to Trendsetter Engineering, Inc in an all-cash transaction.
The non-core product line had generated less than 1% of Innovex combined revenue in the trailing twelve-month period as of the end of 1Q25. Innovex will retain intellectual property rights for the recently installed subsea tree orientation systems (VXTe) with the intent of licensing this technology to subsea tree manufacturers.
“This divestment enables Innovex to focus on core product lines within its subsea portfolio improving customer responsiveness and delivering superior growth, cash flow, and returns for our shareholders,” said Adam Anderson, CEO of Innovex. “Trendsetter has established itself as a premier provider of specialised subsea technologies and is well-equipped to continue to serve customers in the subsea tree space.”
"This acquisition represents a significant and exciting step forward for Trendsetter,” said Mario Lugo, CEO of Trendsetter Engineering. “Entering the subsea tree product space rounds out our offering of subsea production solutions to the industry and expands our reach into new markets."
Read the latest issue of Oilfield Technology magazine for upstream news, project stories, industry insight and technical articles.
Oilfield Technology’s May/June 2025 issue
The May/June 2025 issue of Oilfield Technology includes articles on reducing methane emissions, smart infrared technology, the challenge of torsional vibrations, flow control, upstream sensing, and water treatment.
Read the article online at: https://www.oilfieldtechnology.com/offshore-and-subsea/03072025/innovex-completes-divestment-of-subsea-tree-product-line/