Qualspec Acquires Quantapoint, a 3D Digital Facility Services and Technology Company

Qualspec, a NDT inspection company with operations across the United States, announced 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 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".

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.

Keywords: Plant Asset Data, Mobility Solutions, Enterprise Level Data Management, 3D Digital Facility, Asset Management, NDT Inspection, ARC Advisory Group.