Team, Inc. Announces Purchase of Qualspec Group
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Team (TISI) to Acquire Qualspec Group in Potential $265M Deal
July 6, 2015 7:08 AM EDTTeam (NYSE: TISI) announced that it has executed a stock purchase agreement to acquire the Qualspec Group from Clearview Capital Fund II, L.P. Qualspec is a leading provider of NDT Inspection services in the United States, with significant operations in the West Coast, Gulf Coast and Mid-Western areas of the country. The acquisition adds about $180 million of annual revenue to Team's operations and nearly 1,000 new employees to Team's human capital resources. The annual EBITDA contribution of the Qualspec business is expected to be about $24 million. The total cash consideration is $255 million, which could... More
