We are a leading provider of standard to specialty industrial services, including
inspection, engineering assessment and mechanical repair and remediation required
in maintaining high temperature and high pressure piping systems and vessels
that are utilized extensively in the refining, petrochemical, power, pipeline
and other heavy industries. We conduct operations in three segments: TeamQualspec
Group (“TeamQualspec”) (formerly the Inspection and Heat Treating
Services Group), TeamFurmanite Group (“TeamFurmanite”) (formerly
the Mechanical Services Group) and Quest Integrity (“Quest Integrity”).
Through the capabilities and resources in these three segments, we believe that
Team is uniquely qualified to provide integrated solutions involving in their
most basic form, inspection to assess condition, engineering assessment to determine
fitness for purpose in the context of industry standards and regulatory codes
and mechanical services to repair, rerate or replace based upon the client’s
election. In addition, the Company is capable of escalating with the client’s
needs, as dictated by the severity of the damage found and the related operating
conditions, from standard services to some of the most advanced services and
integrated integrity management and asset reliability solutions available in
the industry. We also believe that Team is unique in its ability to provide
services in three distinct client demand profiles: (i) turnaround or project
services, (ii) call-out services and (iii) nested or run-and-maintain services.
TeamQualspec provides standard and advanced non-destructive testing (“NDT”)
services for the process, pipeline and power sectors, pipeline integrity management
services, field heat treating services, as well as associated engineering and
assessment services. These services can be offered while facilities are running
(on-stream), during facility turnarounds or during new construction or expansion
activities.
TeamFurmanite, our mechanical services segment, provides primarily call-out
and turnaround services under both on-stream and off-line/shut down circumstances.
Turnaround services are project-related and demand is a function of the number
and scope of scheduled and unscheduled facility turnarounds as well as new industrial
facility construction or expansion activities. The turnaround and call-out services
TeamFurmanite provides include field machining, technical bolting, field valve
repair, and isolation test plugging services. On-stream services offered by
TeamFurmanite represent the services offered while plants are operating and
under pressure. These services include leak repair, fugitive emissions control
and hot tapping.
Quest Integrity provides integrity and reliability management solutions for
the process, pipeline and power sectors. These solutions encompass two broadly-defined
disciplines: (1) highly specialized in-line inspection services for unpiggable
process piping and pipelines using proprietary in-line inspection tools and
analytical software; and (2) advanced condition assessment services through
a multi-disciplined engineering team.
We offer these services globally through over 220 locations in 20 countries
throughout the world with more than 7,300 employees. We market our services
to companies in a diverse array of heavy industries which include the petrochemical,
refining, power, pipeline, steel, pulp and paper industries, as well as municipalities,
shipbuilding, original equipment manufacturers (“OEMs”), distributors,
and some of the world’s largest engineering and construction firms.
As previously announced, in September 2017, Ted W. Owen stepped down as Chief
Executive Officer (“CEO”) and Gary G. Yesavage, a member of the
Board of Directors (the “Board”), was appointed as Team’s
Interim CEO to serve until a permanent CEO was hired. Effective January 24,
2018, the Board named Amerino Gatti as CEO and a member of the Board.
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