Team Sells Quest Integrity to Baker Hughes

Industrial
Energy

Team sale of Quest Integrity to Baker Hughes


Summary

Team, Inc. (“Team”) (NYSE: TISI) recently announced that it has reached an agreement to sell TQ Acquisition Corp. (“Quest Integrity”) to Baker Hughes Holdings LLC (“Baker Hughes”) (NASDAQ: BKR) for $280 million cash (before any customary post-closing adjustments). The transaction is subject to various regulatory approvals and customary closing conditions.

Baird served as the exclusive financial advisor to Team on this transaction.

About

Team, Inc. is a global leading provider of integrated, digitally-enabled asset performance assurance and optimization solutions. Team deploys conventional to highly specialized inspection, condition assessment, maintenance and repair services that result in greater safety, reliability, and operational efficiency for client’s most critical assets. Through locations in more than 20 countries, Team unites the delivery of technological innovation with over a century of progressive, yet proven integrity and reliability management expertise to fuel a better tomorrow. Team is headquartered in Sugar Land, Texas.

Quest Integrity provides technology-enabled, advanced inspection and engineering assessment services and products that help organizations in the pipeline, refining, chemical and power industries improve operational planning, increase profitability, and reduce operational and safety risks. Quest Integrity is headquartered in Stafford, Texas.

Baker Hughes is an energy technology company that provides solutions to energy and industrial customers worldwide. Built on a century of experience and conducting business in over 120 countries, Baker Hughes’ innovative technologies and services are taking energy forward – making it safer, cleaner and more efficient for people and the planet. Baker Hughes is headquartered in Houston, Texas.
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Industrial
Energy

Team sale of Quest Integrity to Baker Hughes

Date
August 2022
Company
Team, Inc.
Transaction
M&A - Sellside
Sectors
Industrial
Energy
Verticals
Testing, Inspection, Certification & Compliance ("TICC")
Target Location
North America
Acquiror Location
North America

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