QualSpec Group Acquires Quantapoint, Inc.

QUALSPEC ACQUIRES 3D DIGITAL FACILITY SERVICES AND TECHNOLOGY COMPANY

HOUSTON, TX – July 6, 2015 – Qualspec, a NDT inspection company with operations across the United States, announced today that it has acquired Quantapoint Inc., a 3D Digital Facility services and technology company.  The purchase will enable Qualspec to increase the efficiency and value of inspection services to the refining, chemicals, and power industries through the incorporation and adoption of Quantapoint 3D imaging and digital asset management technologies.  The acquisition of Quantapoint fits with Qualspec’s strategy of offering ever increasing value to its customers through efficiencies gained by technology adoption, advanced work processes, and mobile computing. It was also announced today that Qualspec has now become part of TEAM Industrial Services, Inc., a publicly held industrial service company traded on the NYSE under the stock symbol “TISI”.

Declan Rushe, President & CEO of Qualspec commented, “As one of the leading providers of inspection services in the US, Qualspec has, over the past few years, been actively seeking to take its range of inspections services far beyond the era of two-dimensional (2D) inspection isometrics, hand written inspection reports & manual data entry. In this time of increased emphasis on optimization of resources and increased productivity within our industry, we are excited to welcome the Quantapoint team into our organization and into the TEAM family. The Quantapoint suite of services, incorporating three dimensional (3D) plant modelling, cloud based hosting & mobility applications are closely aligned with all of our long-term objectives to provide increased & improved services to our customers.”

John R. Wilson, President and CEO of Quantapoint added, “Quantapoint has had a long journey that began when it pioneered laser scanning technologies for asset documentation in many varied fields. The recent focus on the owners of industrial assets has led to the ‘digital facility’ which enables key work processes and decision making to be performed on a virtual representation of the actual asset. This improves safety, capital efficiency, reliability, operational efficiency and enables the use of Augmented Reality on handheld devices in the field. The acquisition of Quantapoint by Qualspec is a natural evolution for both companies and will enable it to scale its customer reach through synergies with the Qualspec and TEAM organizations.”

Qualspec is a leading provider of NDT Inspection services in the United States, with significant operations in the West Coast, Gulf Coast and Mid-Western sections of the country. It has strong capabilities in advanced inspection services, rope access services and the delivery of innovative technologies to its customers.

Headquartered near Houston, Texas, TEAM is a leading provider of specialty industrial services, including inspection and assessment, required in maintaining and installing high-temperature and high-pressure piping systems and vessels that are utilized extensively in the refining, petrochemical, power, pipeline and other heavy industries.  Team offers these services in over 125 locations throughout the world.  Together, TEAM and Qualspec have over 5,500 employees worldwide and revenues in excess of $1 billion.

Quantapoint, also headquartered in Houston, delivers integrated service solutions comprising equipment, software, and workflows which apply 3D Digital Facility modeling technology to engineering, maintenance, and inspection business processes.  Quantapoint helps owner/operators improve capital efficiency by reducing dimensional uncertainty and by providing visual interfaces to plant asset data, mobility solutions, and enterprise level data management software.

For enquires, please contact:

Qualspec: Declan Rushe, President and CEO:  (310) 200-3152

Quantapoint: John R. Wilson, former President and CEO: (281) 787-2300 (jwilson@quantapoint.com)