TISI News & Events

Team announced that Keith Tucker will retire from Team after over 20 years of service. In conjunction with this planned leadership transition, Team's board of directors has appointed Gary Hill as the company's CEO effective February 1. Hill brings over 30 years of experience in the industrial services sector, most recently serving as COO of Shermco Industries.

Backs FY25 adjusted EBITDA view up 13%.

Reports Q3 revenue $225.0M vs. $210.8M last year. "TEAM delivered a solid third quarter, with revenue climbing 6.7% year-over-year to $225.0 million, driven by growth across both our Mechanical Services and Inspection & Heat-Treating segments." said Keith D. Tucker, Team's Chief Executive Officer. "Our Inspection and Heat-Treating revenue grew 5.7%, driven by strong nested and call out activity in the U.S. and 8.9% growth in our international operations including Canada. Our Mechanical Services segment revenue grew 7.8% or $8.0 million, led by increased turnaround demand in the U.S. and improved performance in Canada. Overall, our Adjusted EBITDA margin expanded by 110 basis points and Adjusted EBITDA increased by 28.6% to $14.5 million, our best third quarter performance since 2016, underscoring the progress we've made toward margin improvement and increased cash flow generation as well as the strength of our customer relationships, service reliability, and our commitment to operational excellence."

The company is not selling any shares of its common stock under this prospectus and will not receive any proceeds from sales of the shares offered by the selling securityholders.