Drilling Tools International chairman Thomas O. Hicks Sr. dies at 79

Drilling Tools International Corp. (NASDAQ: DTI) announced that Thomas O. Hicks Sr., the company's chairman, died December 6 in Dallas at age 79.

Hicks was a private equity investor who founded Dallas-based family office Hicks Holdings LLC. He earned a BBA from The University of Texas at Austin and an MBA from the University of Southern California.

"We are deeply saddened by the passing of our friend and colleague, Tom Hicks," said Wayne Prejean, DTI's president and chief executive officer, according to the company's statement.

Hicks entered the energy sector in 1997 by acquiring Gammaloy, which was sold to National Oilwell Varco in 2007. In 2012, Hicks Equity Partners acquired rental tool company Directional Rentals. The company was rebranded as Drilling Tools International in 2013 under new management and went public on the Nasdaq exchange in 2023.

Beyond business ventures, Hicks contributed to Dallas civic projects including the American Airlines Center development and the Margaret Hunt Hill Bridge. He donated land for Tom Hicks Elementary in the Lewisville Independent School District.

Hicks served on the University of Texas Board of Regents from 1994 to 1999 and helped establish the University of Texas/Texas A&M Investment Management Company. He was a paratrooper in the Army Reserves and served as a commissioner of the American Battle Monuments Commission.

DTI operates as an oilfield services company that manufactures and rents downhole drilling tools. The Houston-based company operates from 15 service centers across North America and maintains 11 international service centers in EMEA and APAC regions.

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