Kirkland Represents Team, Inc. on New Financing Agreement
Kirkland & Ellis advised Team, Inc. (NYSE: TISI), a global leading provider of integrated, digitally-enabled asset performance assurance and optimization solutions, on its $50 million delayed draw subordinated term loan facility led by Corre Management Partners, LLC. TEAM has also entered into an amendment of its Senior Secured Term Loan facility led by Atlantic Park Strategic Capital Fund, L.P. to waive the financial covenants until September 30, 2022 and a subordination agreement under its current senior secured ABL credit agreement, dated December 18, 2020.
The Kirkland team was led by restructuring partners Joshua Sussberg, Christopher Greco and Whitney Fogelberg and associates Tricia Schwallier and Alex McCammon, debt finance partner Mary Kogut and associates Steven Keithley, Daniel Kirksey, Annie Crea and Weston Kowert, capital markets partners Matt Pacey and Bryan Flannery and associates Anthony Sanderson, Scott Shelton and Tony Flor, and tax partners David Wheat and Joe Tobias.
