Amendment Provides Additional Liquidity and Improved Pricing

SUGAR LAND, Texas, Sept. 30, 2024 (GLOBE NEWSWIRE) —

Team, Inc. (NYSE: TISI) (“TEAM” or the “Company”), a global, leading provider of specialty industrial services offering clients access to a full suite of conventional, specialized, and proprietary mechanical, heat-treating, and inspection services, announced today that it has executed an amendment to its existing ABL credit facility, which consists of a $130 million revolving credit facility (the “Revolver”) and a $27.4 million term loan secured by certain real estate and machinery and equipment of the Company (together with the Revolver, the “Eclipse Loans”) provided by Eclipse Business Capital LLC (“Eclipse”), and a $35 million delayed draw term loan (the “DDTL”) provided by funds managed by J.F.

Impact on Me:

This amendment to the ABL credit facility will provide Team, Inc. with additional liquidity and improved pricing, which could potentially lead to increased investment in new projects, expansion of services, and overall growth opportunities. As a shareholder or employee of Team, Inc., this could result in higher returns and enhanced career prospects.

Impact on the World:

Team’s enhanced financial position resulting from the amendment to its credit facility could have positive ripple effects on the global industrial services market. With increased liquidity, the company may be able to take on larger projects, innovate new solutions, and contribute to advancements in industrial technology. This could potentially benefit other companies in the industry, as well as the clients and communities they serve.

Conclusion:

The amendment to Team, Inc.’s ABL credit facility marks a significant milestone for the company, providing them with the financial resources needed to drive growth and innovation in the industrial services sector. This decision not only benefits Team, Inc. and its stakeholders but also has the potential to have a positive impact on the broader industrial landscape.