Drilling Tools International Corp. Mourns the Death of Thomas O. Hicks Sr.

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.

"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."

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.

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.

He also made extraordinary contributions to the city of Dallas, helping shape the region's cultural, educational, and civic landscape across decades. Hicks played an instrumental role in the development and planning of the American Airlines Center, which opened in 2001, and contributed significantly to the Santiago Calatrava–designed Margaret Hunt Hill Bridge spanning the Trinity River. He also supported education initiatives across North Texas, including the land donation that became Tom Hicks Elementary in the Lewisville Independent School District.

In addition to his business and civic achievements, Hicks remained deeply involved with the University of Texas, where he served on the Board of Regents from 1994 to 1999 and helped establish the University of Texas/Texas A&M Investment Management Company (UTIMCO), one of the largest public university endowment systems in the country — an accomplishment he regarded as one of the most meaningful contributions of his professional life.  Hicks also served his country. He was a paratrooper in the Army Reserves and later served as a presidentially appointed Commissioner of the American Battle Monuments Commission, which oversees U.S. military cemeteries and memorials around the world.

Yet above all his accomplishments, Tom Hicks will be remembered most for his profound love of family.

"He was one-of-a-kind and made an indelible mark on the lives of the many colleagues he inspired and influenced, on family and friends he loved and enjoyed, and on those in the Dallas community who benefited from his philanthropy and advocacy. Tom consistently demonstrated the very highest values in business, integrity, and compassion in all his work. We will miss him and grieve with all those who knew him," concluded Prejean.

For further information and a more complete biography on Tom Hicks, please link to the full family press release here: https://investors.drillingtools.com/static-files/825f2c37-c253-4a2b-8ae7-591ff48316a6

About Drilling Tools International Corp.

DTI is a Houston, Texas based leading oilfield services company that manufactures and rents downhole drilling tools used in horizontal and directional drilling of oil and natural gas wells. With roots dating back to 1984, DTI operates from 15 service and support centers across North America and maintains 11 international service and support centers across the EMEA and APAC regions. To learn more about DTI, please visit: www.drillingtools.com.

Contact:

DTI Investor Relations
Ken Dennard / Rick Black
[email protected]

SOURCE Drilling Tools International Corp.