Antelope: Team Oil Tools merges with other Houston services companies

The Woodlands-based Team Oil Tools is merging with Antelope Oil Tool and Isolation Technologies - both headquartered in Houston - to create an entirely new company. The newly formed Innovex Downhole Solutions is led by Adam Anderson, who was the chief executive for Team. The merger represents the combination of three mid-sized or smaller oilfield services companies backed by Houston and Boston-based private equity firm Intervale Capital. The nearly two-year oil bust is bringing about more consolidations in the private equity world of the energy services sector, which receives less attention than the much larger public mergers like GE Oil & Gas with Baker Hughes; Schlumberger with Cameron International; or ...