Transcat Expands Midwest Presence with Acquisition of Apex Metrology Solutions
ROCHESTER, N.Y. –Â Transcat, Inc. (Nasdaq:TRNS) ("Transcat" or the "Company"), a leading provider of accredited calibration and compliance services and distributor of professional grade handheld test, measurement and control instrumentation, announced that it has acquired, effective March 6, 2015, Apex Metrology Solutions ("Apex"), a provider of accredited and commercial calibrations. Apex specializes in providing 3D metrology services through its Ft. Wayne, Indiana ISO 17025 accredited lab.
"Apex is a natural fit with Transcat and has a culture that is rooted in quality and service," commented Lee D. Rudow, President and CEO. "In addition, this acquisition addresses key elements of our strategy to grow our Service segment both geographically and through capability expansion. Our business has recently increased significantly in the Midwest, particularly within the healthcare and life science industries and the new lab establishes a foundation to better serve our customers and provides a platform to expand our presence in the region."
Transcat also announced that it received a significant enterprise order from a major customer who has elected to outsource their calibration program. The customer is a medical device manufacturer located in the Midwestern region of the U.S., and Apex will be instrumental in support of this new win.
ABOUT TRANSCAT
Transcat, Inc. is a leading provider of accredited calibration and compliance services, including analytical instrument qualifications, equipment and process validation. The Company is focused on providing best-in-class calibration analytics to highly regulated industries, particularly healthcare, which includes companies in pharmaceuticals, medical devices and bioscience. With 19 strategically-located centers of excellence in the United States, Canada and Puerto Rico, Transcat performs over 200,000 specialized technical services annually. 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 answers the call with cGMP and GLP compliant services.
In addition, Transcat operates as a leading distributor of professional grade handheld test, measurement and control instrumentation, marketing more than 100,000 premier and propriety brand instruments to nearly 30,000 customers.
Transcat's growth strategy is to leverage its service capabilities, strong brand and leading distribution platform to drive organic sales growth and 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 on its website at: Transcat.com
CONTACT:
For more information, contact:
John J. Zimmer, Chief Financial Officer
Phone: (585) 352-7777
Email: jzimmer@transcat.com
-OR-
Deborah K. Pawlowski, Investor Relations
Phone: (716) 843-3908
Email: dpawlowski@keiadvisors.com
