UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
-------------
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of report (Date of earliest event reported): November 30, 2005
-------------------------------
Team, Inc.
- --------------------------------------------------------------------------------
(Exact Name of Registrant as Specified in Charter)
Texas 001-08604 74-1765729
- --------------------------------------------------------------------------------
(State or Other Jurisdiction (Commission (IRS Employer
of Incorporation) File Number) Identification No.)
200 Hermann Drive, Alvin, Texas 77512
- --------------------------------------------------------------------------------
(Address of Principal Executive Offices and Zip Code)
Registrant's telephone number, including area code: (281) 331-6154
-----------------------------
Not Applicable
- --------------------------------------------------------------------------------
(Former name or former address, if changed since last report)
Check the appropriate line below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions:
___ Written communications pursuant to Rule 425 under the Securities
Act (17 CFR 230.425)
___ Soliciting material pursuant to Rule 14a-12 under the Exchange
Act (17 CFR 240.14a-12)
___ Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))
___ Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))
Item 8.01. Other Events
------------
On November 30, 2005, Team issued a press release announcing that it had sold
Climax Portable Machine Tools, Inc., its equipment sales and rental segment to
an affiliate of Horizon Partners Ltd. for approximately $14.5 million in cash.
The press release is attached as an exhibit hereto and is incorporated by
reference herein.
Item 9.01 Financial Statements and Exhibits.
----------------------------------
(c) Exhibits
99.1 Press Release dated November 30, 2005
2
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
Team, Inc.
By: /s/ Gregory T. Sangalis
----------------------------------
Name: Gregory T. Sangalis
Title: Senior Vice President -
Law & Administration
Date: November 30, 2005
3
Exhibit Index
-------------
Exhibit Number Description
--------------- -----------
99.1 Press Release Nov. 30, 2005
4