Team, Inc. announced that an entity controlled by Stellex Capital Management LLC acquired all 1,604,326 shares of common stock previously held by Corre Partners Management, LLC and its affiliates at $35.50 per share in a privately negotiated transaction. This acquisition increases Stellex's ownership to approximately 35% of the outstanding common stock, including preferred stock and warrants issued in September 2025. Concurrently, Corre irrevocably waived its board observation rights, board nomination rights (including the right to designate the Chairman), and other investor rights under a June 2023 agreement, though rights regarding the Lender Director remain effective. Team, Inc. is a global provider of specialty industrial services offering inspection, heat-treating, and mechanical services.

Team, Inc. reported unaudited financial results for the second quarter ended June 30, 2026, announcing a net loss of $6.8 million compared to a $4.3 million loss in the prior-year period. Revenue declined 7.8% year-over-year to $228.7 million from $248.0 million, driven by a 51% drop in deferred turnaround and maintenance activity across core oil and gas markets and weakness in the Middle East. Adjusted EBITDA fell to $12.8 million (5.6% margin) from $24.5 million (9.9% margin). The company maintained its full-year 2026 guidance, projecting revenue of $920–$945 million and adjusted EBITDA of $68–$73 million, while targeting $8–$15 million in structural cost improvements for the year. Team, Inc. operates as a global provider of specialty industrial services, offering inspection, heat-treating, and mechanical maintenance solutions to critical infrastructure clients.

The Board of Directors of Team, Inc. approved an amendment to its Corporate Executive Officer Compensation and Benefits Continuation Policy to reduce benefits payable during a qualifying termination related to a change in control. Specifically, supplemental salary payments and supplemental compensation for forgone annual bonuses will now be capped at a 24-month period. Team, Inc. operates in the industrial distribution and services sector through its various brands.

On June 18, 2026, Team, Inc. announced that Nelson Haight will depart as Executive Vice President and Chief Financial Officer effective June 22, 2026. Mr. Haight will serve as a Special Advisor through July 3, 2026, and receive a severance package including $603,750 in salary installments over 15 months, a prorated 2026 target bonus, and $15,500 for healthcare. The company appointed Clinton Roeder as the new EVP and CFO effective June 22, 2026. Mr. Roeder will receive an initial base salary of $500,000, a target annual bonus of 75% of base salary, and equity grants valued at approximately $500,000. Team, Inc. provides specialized workforce solutions and industrial services to the energy and industrial sectors.