<SUBMISSION>
<ACCESSION-NUMBER>0001157523-04-006616
<TYPE>8-K
<PUBLIC-DOCUMENT-COUNT>2
<PERIOD>20040721
<ITEMS>5
<ITEMS>7
<FILING-DATE>20040721
<FILER>
<COMPANY-DATA>
<CONFORMED-NAME>TEAM INC
<CIK>0000318833
<ASSIGNED-SIC>7600
<IRS-NUMBER>741765729
<STATE-OF-INCORPORATION>TX
<FISCAL-YEAR-END>0531
</COMPANY-DATA>
<FILING-VALUES>
<FORM-TYPE>8-K
<ACT>34
<FILE-NUMBER>001-08604
<FILM-NUMBER>04924791
</FILING-VALUES>
<BUSINESS-ADDRESS>
<STREET1>200 HERMANN DRIVE
<CITY>ALVIN
<STATE>TX
<ZIP>77056
<PHONE>2813316154
</BUSINESS-ADDRESS>
<MAIL-ADDRESS>
<STREET1>1019 SOUTH HOOD STREET
<CITY>ALVIN
<STATE>TX
<ZIP>77551
</MAIL-ADDRESS>
</FILER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>a4685406.txt
<DESCRIPTION>TEAM, INC. 8-K
<TEXT>
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 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: July 21, 2004)

                                   TEAM, Inc.
--------------------------------------------------------------------------------
             (Exact Name of Registrant as Specified in its Charter)

Texas                                     0-9950                  74-1765729
----------                              ----------              --------------
(State or Other Jurisdiction     (Commission File Number)     (I.R.S. Employer
of Incorporation)                                            Identification No.)




                                200 Hermann Drive
                               Alvin, Texas 77511
              (Address of principal executive offices and zip code)

               Registrant's telephone number, including area code
                                 (281) 331-6154
   ---------------------------------------------------------------------------


<PAGE>

ITEM 5. OTHER EVENTS

On July 21, 2004, the Registrant disseminated a Press Release announcing its was
the successful bidder at a Bankruptcy Court sponsored auction to acquire
substantially all of the assets of Cooperheat-MQS, Inc. and its parent company,
International Industrial Services, Inc. The information contained in the Press
Release dated July 21, 2004 is incorporated herein by reference and attached as
Exhibit 99.1 hereto.

ITEM 7. FINANCIAL STATEMENTS, PROFORMA FINANCIAL INFORMATION AND EXHIBITS

(c) Exhibits.

     99.1 The Registrant's Press Release dated July 21, 2004.


<PAGE>


                                    SIGNATURE

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 thereunto duly authorized.

                                               TEAM, INC.



                                               By:  /s/ Ted W. Owen
                                                    --------------------------
                                                    Ted W. Owen
                                                    Senior Vice President -
                                                    Finance and Administration


Date: July 21, 2004


</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>a4685406ex991.txt
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
                                                                    Exhibit 99.1

               Team Inc. Selected as Winning Bidder in
        Bankruptcy Auction to Acquire Cooperheat-MQS Business

    ALVIN, Texas--(BUSINESS WIRE)--July 21, 2004--Team Inc. (AMEX:TMI)
today announced that it was the successful bidder at an auction to
acquire substantially all of the assets of Cooperheat-MQS Inc. and its
parent company, International Industrial Services Inc. (together,
Sellers) for $35 million in cash, subject to an adjustment for working
capital changes to the date of closing. Financing for the transaction
is expected to be provided through a senior secured financing
commitment offered by Team's primary lender.
    Team's successful bid is subject to Bankruptcy Court approval at a
hearing expected to be held on Aug. 9, 2004, and is subject to certain
other customary conditions. Closing is expected to occur within 30
days following Bankruptcy Court approval. Each Team and Sellers may
elect to terminate the transaction if closing has not occurred by
Sept. 10, 2004.
    Cooperheat-MQS is a leading provider of non-destructive testing
(NDT) inspection and field heat treating services throughout the U.S.,
and its projected 2004 revenues are estimated to be approximately $80
million.
    Team is a professional, full-service provider of specialty
industrial services. Team's current industrial service offering
encompasses on-stream leak repair, hot tapping, fugitive emissions
monitoring, NDT inspection, field machining, technical bolting, field
valve repair and field heat treating. All these services are required
in maintaining high temperature, high pressure piping systems and
vessels utilized extensively in the refining, petrochemical, power,
pipeline and other heavy industries. Headquartered in Alvin, Texas,
Team operates in over 40 customer service locations throughout the
United States. Team also serves the international market through both
its own international subsidiaries as well as through licensed
arrangements in 14 countries. References in this news release to Team
include its subsidiaries. Team's common stock is listed on the
American Stock Exchange and trades under the ticker symbol "TMI".
    Certain forward-looking information contained herein is being
provided in accordance with the provisions of the Private Securities
Litigation Reform Act. Such information is subject to certain
assumptions and beliefs based on current information known to the
Company and is subject to factors that could result in actual results
differing materially from those anticipated in the forward-looking
statements contained herein. Such factors include domestic and
international economic activity, interest rates, and market conditions
for the Company's customers, regulatory changes and legal proceedings,
and the Company's successful implementation of its internal operating
plans. Accordingly, there can be no assurance that the forward-looking
statements contained herein will occur or that objectives will be
achieved.

    CONTACT: Team Inc., Alvin
             Philip J. Hawk or Ted W. Owen, 281-331-6154

</TEXT>
</DOCUMENT>
</SUBMISSION>
