Team, Inc. Announces Amendment and Maturity Extension of Its ABL Credit Facility

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. Lehman & Company (“JFL”) and Corre Partners Management, LLC (“Corre”).

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