Company overview

Team, Inc. helps industrial customers assess equipment condition and carry out maintenance and repairs. Its Inspection and Heat-Treating business checks equipment for defects without damaging it, assesses whether it remains fit for use and performs heat treatment. Mechanical Services repairs leaks while equipment is operating and handles maintenance during shutdowns. The two businesses contribute roughly equal shares of revenue.

Customers usually pay for labor, equipment and materials used on each job; some work has a fixed price. Most orders cover individual jobs, though Team also provides ongoing maintenance. Customers can generally terminate agreements on short notice, so revenue depends on continued orders rather than long-term commitments.

Team relies heavily on refining and petrochemical customers, making their maintenance and project spending important to demand. Delivering the work depends on retaining skilled technicians. Services involving hazardous waste or emissions also require permits and compliance with environmental, health and safety rules, which can restrict operations.