Transcat, Inc. (Nasdaq: TRNS) (“Transcat” or the “Company”), a
leading provider of accredited calibration services, cost control
and optimization services, and distribution and rental of
value-added professional grade handheld test, measurement, and
control instrumentation, announced that it has acquired
privately-held Martin Calibration Inc. (Martin), effective December
10, 2024. The $79 million purchase price was paid in combination of
$69 million in cash and $10 million in Company stock and is subject
to certain customary adjustment and holdback provisions.
Martin, an ISO-17025 Accredited calibration laboratory network,
has been a Midwest leader in the metrology business for almost 35
years, with more than $25 million dollars of revenue. With its
flagship Minneapolis lab, Martin has six additional labs in or near
Chicago, Milwaukee, Eau Claire, Tempe, and Los Angeles. Martin
serves customers in the highly regulated Medical, Life Science,
Aerospace, and Nuclear sectors, providing in-lab and onsite
services across a broad range of disciplines.
“We are thrilled to announce the acquisition of Martin
Calibration, our largest acquisition in Transcat history,” noted
Lee Rudow, President and Chief Executive Officer. “Martin has been
highly coveted by Transcat not only for its size and scale, but for
its stellar reputation around quality and capabilities. As a
result, we expect this highly synergistic deal to fulfill all our
strategic acquisition drivers by expanding our geographic reach,
increasing our capabilities and expertise, and providing us with
two bolt-on opportunities (Los Angeles and Tempe) that will
leverage our existing infrastructure. Additional leverage will come
in other aspects of our business, including automation and
outsource reduction.”
“Martin’s flagship lab is in Minneapolis, an area rich in
medical device and life science and is a strategic fit for the
expansion of our business,” Mr. Rudow added. “We have long desired
to be in this opportunistic region. When you factor in Martin’s
commitment to quality, its extensive customer base, geographic
coverage, and strong culture, we believe that Transcat, together
with Martin, is a perfect match. As a combined force, we have
almost 100 years of deep industry experience. With this, we are
confident we will win more.”
Rick Brion, Martin’s owner, commented, “I am proud and grateful
to have built the Martin business and to have had the opportunity
to lead such a talented and dedicated team for so many years. There
was never a doubt that if I were to sell my company, it would only
be to Transcat, and now I am excited for this next chapter for our
employees and customers. Transcat’s dedication to its employees,
rewarding culture, and focus on providing high-quality services are
a perfect complement to our business. I look forward to seeing the
positive results driven by the combined organizations.”
Mr. Rudow concluded, “Rick and I have been in regular contact
for over 10 years, always confident this day would come. From the
start, we both believed we would be stronger together and that the
opportunities we could seize as one would drive results to a new
level. On this day, we are extremely grateful to welcome the nearly
150 dedicated Martin employees to the Transcat family. We are
tremendously excited about what we will accomplish together.”
ABOUT TRANSCAT
Transcat, Inc. is a leading provider of accredited calibration,
reliability, maintenance optimization, quality and compliance,
validation, Computerized Maintenance Management System (CMMS), and
pipette services. The Company is focused on providing best-in-class
services and products to highly regulated industries, particularly
the Life Science industry, which includes pharmaceutical,
biotechnology, medical device, and other FDA-regulated businesses,
as well as aerospace and defense, and energy and utilities.
Transcat provides periodic on-site services, mobile calibration
services, pickup and delivery, in-house services at its 26
Calibration Service Centers strategically located across the United
States, Puerto Rico, Canada, and Ireland. Inclusive of customer
embedded locations and other field offices, we operate out of more
than 50 locations. 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 its strong brand and unique
value proposition that includes its comprehensive instrument
service capabilities, enterprise asset management, 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.
Safe Harbor Statement
This news release contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995.
Forward-looking statements are not statements of historical fact
and thus are subject to risks, uncertainties, and assumptions.
Forward-looking statements relate to expectations, estimates,
beliefs, assumptions, and predictions of future events and are
identified by words such as “anticipate,” “believe,” “desire,”
“estimate,” “expect,” “look forward,” “opportunity,” “strategy,”
“would,” and other similar words. All statements addressing
operating performance, events or developments that Transcat expects
or anticipates will occur in the future, including but not limited
to statements relating to the successful integration of this
acquisition, anticipated financial results, market position and
geographic reach, customer preferences, outlook and changes in
market conditions in the industries in which Transcat operates are
forward-looking statements. Forward-looking statements should be
evaluated in light of important risk factors and uncertainties.
These risk factors and uncertainties include those more fully
described under the heading “Risk Factors” in Transcat’s reports
filed with the Securities and Exchange Commission, including our
Annual Report on Form 10-K for the fiscal year ended March 30,
2024. Should one or more of these risks or uncertainties
materialize, or should any of the Company’s underlying assumptions
prove incorrect, actual results may vary materially from those
currently anticipated. In addition, undue reliance should not be
placed on the Company’s forward-looking statements, which speak
only as of the date they are made. Except as required by law, the
Company disclaims any obligation to update, correct or publicly
announce any revisions to any of the forward-looking statements
contained in this news release, whether as the result of new
information, future events or otherwise.
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version on businesswire.com: https://www.businesswire.com/news/home/20241210601822/en/
For more information, contact: Linda Reynolds
Executive Assistant 35 Vantage Point Drive Rochester, NY 14624
Phone: 585.866.1969 Email: linda.reynolds@transcat.com
Transcat (NASDAQ:TRNS)
過去 株価チャート
から 12 2024 まで 1 2025
Transcat (NASDAQ:TRNS)
過去 株価チャート
から 1 2024 まで 1 2025
