Slide 1: Description of Quest Integrity Group Acquisition
Exhibit 99.2 Description of Quest Integrity Group Acquisition November 2010 1
Slide 2: Recent Purchase of Quest Integrity Group
Recent Purchase of Quest Integrity Group Transaction Details • Team purchased 95% of Quest Integrity Group (“Quest Integrity”) for $42.6million ($ 39.1million – cash,$3.5million in TISIrestrictedstock, approximately 186 thousand shares). • Team expects to purchase the remaining 5% ownership of Quest
Slide 3: Strategic Goals for Quest Integrity Acquisition
Strategic Goals for Quest Integrity Acquisition • Expand the revenues and margins of Team’s inspection services business – Enhance reputation to provide state-of-the-art, value-based solutions to customers – Create growth opportunities in several new market segments and possibly accelerate growth op
Slide 4: Quest Integrity's Capabilities
Quest Integrity’s Capabilities Quantitative Engineering Inspection Assessment Services Specialized Proprietary knowledge and technology-enabled operating experience and specialized applied through inspection services consultation services Asset Integrity and Reliability Management Solutions Advanced
Slide 5: Engineering Assessment Expertise and Applications
Engineering Assessment Expertise and Applications Core Competencies Key Industries Served Key Equipment Types • Fitness-for-Service (FFS) • Process Plants • Heaters & Boilers Assessment Refinery • Pipelines • Fracture Mechanics Chemical & • Process Piping • Finite Element Analysis petrochemical • Re
Slide 6: Technology-Enabled Inspection Services
Technology-Enabled Inspection Services Example –Inspection of non-piggable pipeline using Quest Integrity’s proprietary InVista NDT inspection tools InVista™Example High-Fidelity Ultrasonic ILI Survey •Onsite technician certified NDT L II or greater •Standard condition reports provided within 7 days
Slide 7: Automated Assessment/Software Tools
Automated Assessment/Software Tools • Tied to Quest Integrity’s proprietary inspection technology and specific critical assets • Imports data from the corresponding inspection tool, and then performs FFS and RLA • Used to visually inspect and present data and FFS results in a operator-intuitive form
Slide 8: Quest Integrity Group Business Mix
Quest Integrity Group Business Mix 2010YTD Revenue by Office 2010YTD Revenue by Division M. East 2.1% Australia 6.0% Europe 6.1% Engineering Canada Assessment USA 17.6% 43.6% 49.4% Inspection 56.4% New Zealand 18.9% 8
Slide 9: Profiles and Locations
Quest Integrity Group Profiles and Locations Backgrounds of Personnel Key Locations • Educational Backgrounds • Engineering Assessment Offices – 13 PhDs – Houston – 13 Other Advanced Engineering Degrees – Boulder – New Zealand • Noteworthy Industry Leadership • Inspection Services Offices – CTO is a
Slide 10: Summary Balance Sheets
Summary Balance Sheets Aug. 31, 2010 unaudited, proforma (in millions) Quest Team May 31, Team Pro-forma Pro-Forma 2010 Cash $ 17.1 $ 1.2 $ 18.3 $ 12.6 Accounts Receivable 93.2 4.0 97.2 109.4 Other current assets 27.4 0.6 28.0 28.3 Tota current assets 137.7 5.8 143.5 150.3 Non-current assets 114.1 4
Slide 11: FY 2011 Guidance
FY 2011 Guidance (in millions, except per share amounts) FY2011 Change Guidance (1) FY2010 (2) $ % Revenue $470-$500 $ 454 $16-$46 4%-10% Field operating income $55-$60 $ 48 $7-$12 15%-25% Corporate expenses ($20) $ (19) ($1) EBIT $35-$40 $ 29 $6-$11 20%-35% Net income $20-$23 $ 16 $4-$7 25%-40% EPS