Houlihan Lokey Advises TEAM

Houlihan Lokey is pleased to announce that TEAM, Inc. (NYSE:TISI), a global, leading provider of specialty industrial services, has successfully closed on a private placement of preferred stock and warrants to affiliates of Stellex Capital Management LLC (collectively, Stellex). The transaction immediately reduces debt, enhances financial flexibility, and inaugurates a strategic new relationship with a partner aligned with TEAM’s management on the company’s key priorities.

Headquartered in Sugar Land, Texas, TEAM is a global, leading provider of specialty industrial services offering customers access to a full suite of conventional, specialized, and proprietary mechanical, heat-treating, and inspection services. The company deploys conventional and highly specialized inspection, condition assessment, maintenance, and repair services that result in greater safety, reliability, and operational efficiency for customers’ most critical assets. Through locations in more than 13 countries, TEAM unites the delivery of technological innovation with more than a century of progressive, yet proven, integrity and reliability management expertise to fuel a better tomorrow.

With offices in New York, London, Pittsburgh, and Detroit, Stellex is a private equity firm with more than $5 billion in AUM. Stellex seeks to identify and deploy capital in opportunities that stand to benefit from its operationally focused and hands-on approach to investing. Portfolio companies are supported by Stellex’s industry knowledge, operating capabilities, network of senior executives, strategic insights, and access to capital. Sectors of particular focus include aerospace, defense, and government services; transportation and logistics; manufacturing; real economy and business services; food processing; and tech-enabled services.

Houlihan Lokey served as the exclusive financial advisor to TEAM, assisting in the structuring and negotiation of the transaction. This transaction exemplifies the continued success of Houlihan Lokey’s dedicated coverage of the testing, inspection, certification, and compliance and industrial services sectors, as well as its Capital Solutions Group.

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