Business
Drilling Tools International Corp. Mourns the Death of Thomas O. Hicks Sr.
Drilling Tools International Corp., (NASDAQ: DTI) ("DTI" or the "Company"), today announced Thomas O. Hicks, Chairman of the Board has passed away. Mr. Hicks, a legendary Texas businessman, philanthropist, mentor, and devoted husband and father, died peacefully on December 6, in Dallas surrounded by his family. He was 79.
About this update from Drilling Tools International Corporation
[{"type":"text","content":"HOUSTON, Dec. 9, 2025 /PRNewswire/ -- Drilling Tools International Corp., (NASDAQ: DTI) ("DTI" or the "Company"), today announced Thomas O. Hicks, Chairman of the Board has passed away. Mr. Hicks, a legendary Texas businessman, philanthropist, mentor, and devoted husband and father, died peacefully on December 6, in Dallas surrounded by his family. He was 79.","length":381,"tagName":"p"},{"type":"text","content":""We are deeply saddened by the passing of our friend and colleague, Tom Hicks," said Wayne Prejean, President and Chief Executive Officer of DTI. "Tom was a trailblazer whose visionary leadership and innovation have helped shape the modern private equity landscape. His unwavering commitment to growth, community, and excellence stands as an inspiration to both investors and business leaders across the globe."","length":431,"tagName":"p"},{"type":"text","content":"Thomas O. Hicks Sr. was a highly influential American private equity investor and sports team owner, best known for pioneering the "buy and build" strategy in investment and for his leadership in some of the nation's most successful franchises. He was Chairman and Founder of Hicks Holdings LLC, a Dallas–based family office managing a diverse portfolio of real estate, corporate assets, and investments. Hicks earned a BBA from The University of Texas at Austin and an MBA from the University of Southern California.","length":531,"tagName":"p"},{"type":"text","content":"In addition to his many successful ventures and business interests, Mr. Hicks and his investment group entered the energy business by acquiring privately owned Gammaloy in 1997 and after a decade of growth and value creation, sold it to National Oilwell Varco in 2007. In 2012, Hicks Equity Partners, LP, acquired a regional and privately held rental tool company Directional Rentals and began a rapid expansion of the business. In 2013, a new management team was organized, and the company was rebranded Drilling Tools International. Over the next decade, the company grew substantially and went public on the Nasdaq exchange in 2023.","length":640,"tagName":"p"},{"type":"text","content":"He also made extraordinary contributions to the city of Dallas, helping shape the region's cultural, educational, and civic landscape across decades. Hicks pla...