Latham Represents Stellex Capital Management in Becoming Largest Common Equity Shareholder in TEAM, INC.

Team, Inc. (NYSE: TISI), a global, leading provider of specialty industrial services offering customers access to a full suite of conventional, specialized, and proprietary inspection, heat-treating, and mechanical services, has announced that an entity controlled by Stellex Capital Management LLC has acquired all 1,604,326 shares of the company’s common stock currently held by Corre Partners Management, LLC and its affiliates at a purchase price of US$35.50 per share. The transaction was a privately negotiated sale between two existing stakeholders. The company is not issuing any shares in relation to this transaction and will not receive any proceeds from the transaction. Upon closing, Stellex is expected to own approximately 35% of the company’s outstanding common stock, as well as preferred stock and warrants that were issued to Stellex in September of 2025.

Latham & Watkins LLP represents Stellex in the transaction with an M&A and Hybrid Capital team led by Peter Sluka, Global Co-Chair of the Hybrid Capital Practice, and partners Ian Nussbaum, Max Schleusener, and Andrew Blumenthal, with associates Brian Baloun, Paul Lau, Yulong Li, and Patrick O'Neal. Advice was also provided on tax matters by partner Alan Kimball; on debt finance matters by partners Manu Gayatrinath, Emily Johnson, and Jennifer Kent and counsel Sonja Pollack, with associates Christina Chaplygina and Laura Edwards; on capital markets matters by partners Benjamin Cohen and William Hackett, with associate Sara Almousa; on antitrust matters by associate Matthew Piehl; and on compliance matters by partner Sarah Lightdale, with associate Anthony Sarna.*