Transcat Acquires Calibration Lab from ACA TMetrix Inc. |
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Transcat, Inc.
35 Vantage Point Drive
Rochester, NY, 14624
USA
Press release date: November 1, 2010
o Expands Service Capabilities in Canada
ROCHESTER, NY, November 1, 2010 - Transcat, Inc. (Nasdaq: TRNS) ("Transcat" or the "Company"), a leading distributor of professional grade handheld test and measurement instruments and accredited provider of calibration, repair and weighing system services, announced today that it has acquired from ACA TMetrix Inc., its calibration and repair service business located in Mississauga, Ontario, a suburb of Toronto.
The acquired calibration and repair service business, which is ISO 9001-2008 registered, is a fully equipped, calibration laboratory that provides repair and service for instruments from over 60 manufacturers.
Charles P. Hadeed, President, CEO and COO of Transcat, commented, "Our strategy is to increase our market share of calibration and repair services in North America both organically and through acquisitions. This acquisition enables us to broaden our presence in Canada by complementing our current lab in Ottawa, Ontario. Our objective is to further penetrate the Canadian market through our well-established, high quality brand and reliable, fast service with CalTrakŪ, our convenient, online tracking and inventory system."
"Transcat will continue to offer all of the in-Canada repair and calibration services that our customers have been accustomed to for over 50 years," said Jim Turner, President of ACA TMetrix Inc. "In addition, I believe that Transcat brings economies of scale and expanded expertise that will make the operation second to none in Canada. Transcat will continue to operate from our Mississauga facility and the same factory trained technical staff will continue to offer all of the support that our customers came to depend on."
The purchase was an all cash transaction although terms of the transaction were not disclosed.
ABOUT TRANSCAT
Transcat, Inc. is a leading distributor of professional grade handheld test and measurement instruments and accredited provider of calibration and repair services primarily for the pharmaceutical and FDA-regulated, industrial manufacturing, energy and utilities, chemical manufacturing, and other industries. Through its distribution products segment, Transcat markets and distributes national and proprietary brand instruments to nearly 14,000 customers. The Company offers access to more than 25,000 test and measurement instruments. Transcat delivers precise, reliable, fast calibration, and repair services across the United States, Canada and Puerto Rico through its 13 strategically located Calibration Centers of Excellence. Transcat's calibration laboratories are ISO-9001:2008 registered and the scope of accreditation to ISO/IEC 17025 is believed to be one of the broadest in the industry. Transcat's acquisition of United provided entry into both the distribution and service segments of the industrial scales and weighing systems marketplace in the Wisconsin, Northern Illinois and Upper Michigan areas.
Transcat's growth strategy is to expand both its distribution products and calibration services in markets that value product breadth and availability and rely on accredited calibration services to maintain the integrity of their processes.
More information about Transcat can be found on its website at: www.transcat.com
ABOUT ACA TMETRIX
ACA TMetrix is Canada's best established supplier of precision electronic instruments and design tools. With an established reputation and trans-Canada presence TMetrix offers Canadian technology companies products, training and support to make sure that the certainty and precision they buy is dependable, repeatable and available to their engineers.
ACA TMetrix is one of the ACA group of companies which includes Integrys Ltd, and Spectra Research Inc. The other Companies in the group offer solutions to technology companies and researchers which range from rugged computing, imaging, custom engineering, materials characterization, nanotechnology, surface science.
More information about ACA TMetrix is at www.tmetrix.com or call 1-800-665 7301.
For more information contact:
John Zimmer,
Chief Financial Officer
Phone: (585) 352-7777
Email: jzimmer@transcat.com
OR
Deborah Pawlowski,
Investor Relations
Phone: (716) 843-3908
Email: dpawlowski@keiadvisors.com
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