HMH Holding Inc.
HMH Holding Inc. (“HMH”) is a global provider of highly engineered, mission critical equipment, digital solutions, and lifecycle services for the oil and gas drilling industry. Through its operating subsidiary, HMH Holding B.V., the company delivers a comprehensive portfolio of drilling equipment, aftermarket services, spare parts, and integrated digital solutions used in offshore and onshore drilling operations worldwide.
HMH serves customers across more than 80 countries and operates a scalable global footprint with over 30 physical locations in 15 countries. The company is headquartered in Houston, Texas, with major operational centers located in Houston, Texas, and Kristiansand, Norway, providing proximity to key offshore and international drilling markets.
Business Overview
HMH’s offerings span the full lifecycle of drilling assets and are organized into three core categories:
- Projects and Products – Integrated drilling equipment packages and individual components for newbuild, reactivated, and upgraded drilling rigs, including pressure control systems and topside drilling equipment.
- Aftermarket Services – Maintenance, repair, recertification, and digital solutions that support the safety, reliability, and operational efficiency of installed equipment throughout its operating life.
- Spare Parts – Replacement components for HMH and third party OEM equipment used in both offshore and onshore drilling operations.
Products, Technology, and Digital Solutions
HMH provides a broad suite of mission critical equipment, including pressure control systems such as blowout preventers (BOPs), drilling risers, wellhead connectors, and BOP control systems, as well as topside drilling equipment such as top drives, mud pumps, hoisting systems, rotating systems, and pipe handling equipment. Many of these products operate in high pressure, high temperature, and environmentally sensitive environments.
In addition, HMH has developed a portfolio of integrated digital solutions that enhance drilling performance, safety, and efficiency through real time monitoring, analytics, automation, and condition based maintenance. These digital offerings support recurring revenue and provide opportunities to upgrade legacy equipment as customers continue to invest in digitalization.
Customers and End Markets
HMH serves three primary customer groups:
- Drilling contractors operating offshore and onshore rigs;
- Operators, including oil and gas exploration and production companies and mining companies; and
- Manufacturers, including shipyards and capital equipment builders.
While the company’s primary end market is offshore and international onshore oil and gas drilling, HMH is expanding its presence in adjacent markets, including onshore and subsea mining, where its engineering capabilities and equipment designs can be applied to demanding industrial applications.
Global Installed Base and Recurring Revenue Model
HMH has more than 1,100 equipment installations globally, with a large portion of its revenue derived from recurring aftermarket services and spare parts sales. During the year ended December 31, 2025, aftermarket services and spare parts accounted for approximately three quarters of total revenue, reflecting the durability of the company’s installed base and the long operating life of drilling rigs, which typically range from 20 to 30 years.
History and Ownership
HMH Holding B.V. was formed in October 2021 through the combination of Baker Hughes’ Subsea Drilling Systems pressure control business and Akastor’s MHWirth drilling equipment business. The company brings together a portfolio of established brands with long operating histories, including Hydril, VetcoGray, Wirth, and Maritime Hydraulics, some of which trace their origins back more than a century.
HMH Holding Inc. was incorporated in April 2024 as a Delaware corporation and, following the completion of its initial public offering and related corporate reorganization, serves as a holding company for HMH Holding B.V. and its subsidiaries.
Culture, Safety, and Operations
Health, Safety, Security, and Environment (HSSE) is a core element of HMH’s organizational culture. The company emphasizes operational discipline, regulatory compliance, and responsible manufacturing and service practices across its global operations. HMH’s engineering expertise, long standing customer relationships, and global service network position it as a trusted partner for mission critical drilling equipment and services.