Transcat Expands Its Southern California Presence with Acquisition of Gauge Repair Service
ROCHESTER, NY, April 1, 2019 – Transcat, Inc. (Nasdaq: TRNS) (“Transcat” or the “Company”), a leading provider of accredited calibration, repair, inspection and laboratory instrument services and value-added distributor of professional grade handheld test, measurement and control instrumentation, announced that it has acquired substantially all of the assets of Gauge Repair Service ("GRS"), effective April 1, 2019. Financial terms of the transaction were not disclosed.
Established in 1963, GRS provides a broad range of pressure and torque calibrations and repair services in its Torrance, CA laboratory. GRS is A2LA-accredited and complies with ISO 17025.2005 and ANSI/NCSL Z540.1 requirements. Ted Haggstrom, President of GRS, will assist the transition under a consulting agreement and all other GRS employees are expected to become Transcat employees.
Lee D. Rudow, President and Chief Executive Officer of Transcat, commented, “We believe GRS is an ideal fit for Transcat as it addresses a key element of our acquisition strategy by leveraging our infrastructure, and adds a strong customer base. We look forward to welcoming the GRS team and their customers as they transition to our Los Angeles-area lab in Fullerton.”
ABOUT TRANSCAT
Transcat, Inc. is a leading provider of accredited calibration, repair, inspection and laboratory instrument services. The Company is focused on providing best-in-class services and products to highly regulated industries, including life science, aerospace and defense, pharmaceutical, medical device manufacturing and biotechnology. Transcat provides permanent and periodic on-site services, mobile calibration services and in-house services through 21 Calibration Service Centers strategically located across the United States, Puerto Rico and Canada. The breadth and depth of measurement parameters addressed by Transcat’s ISO/IEC 17025 scopes of accreditation are believed to be the best in the industry.
Transcat also operates as a leading value-added distributor that markets, sells and rents new and used national and proprietary brand instruments to customers primarily in North America. The Company believes its combined Service and Distribution segment offerings, experience, technical expertise and integrity create a unique and compelling value proposition for its customers.
Transcat’s strategy is to leverage the complementary nature of its two operating segments, its comprehensive service capabilities, strong brand, enhanced e-commerce capabilities and leading distribution platform to drive organic sales growth. The Company will also look to expand its addressable calibration market through acquisitions and capability investments to further realize the inherent leverage of its business model.
More information about Transcat can be found at: Transcat.com
For more information, contact:
Michael J. Tschiderer
Chief Financial Officer
Phone: (585) 563-5766
Email: mtschiderer@transcat.com
Deborah K. Pawlowski
Investor Relations
Phone: (716) 843-3908
Email: dpawlowski@keiadvisors.com
