ROCHESTER, NY – (COMMERCIAL THREAD) –Transcat, Inc. (Nasdaq: TRNS) (“Transcat” or the “Company”), a leading provider of accredited calibration, repair, inspection and laboratory instrument services and a value-added distributor of instruments Professional Grade Portable Test, Measurement and Control, announced that it has purchased all of the shares of Tangent Labs, LLC (Tangent), effective December 31, 2021. The purchase price was $ 9. $ 0 million and is subject to certain customary holdback provisions.
Founded in 1995 and headquartered in Indianapolis, IN, Tangent provides in-house and on-site calibrations of precision measuring and control instruments to customers in the life sciences, aerospace and other regulated industries. With annual sales of approximately $ 2.2 million, Tangent offers ISO / IEC 17025 accredited calibrations and has laboratories located in Indianapolis and Huntsville, Alabama. Kevin Broderick, owner of Tangent, will join Transcat and continue to lead the company.
“Tangent fits naturally into our geographic expansion strategy as it gives us a new local presence in two attractive regions of the country that fit perfectly into our operational footprint, ”commented Lee Rudow, President and CEO. “Indiana has a large and growing market for life sciences / medical devices, while Huntsville, Alabama is a large military / aerospace market. In addition, Tangent is a very well managed company that has successfully automated certain elements of its benchmarking program to help generate an extremely strong profitability profile. We are delighted to welcome Kevin and the Tangent team to Transcat.
Transcat, Inc. is a leading provider of accredited calibration, repair, inspection and laboratory instrumentation services. The Company is focused on providing top-notch services and products to highly regulated industries, particularly the life sciences industry, which includes the pharmaceutical, biotechnology, medical device and other businesses regulated by the FDA; as well as aerospace and defense, and energy and utilities. Transcat provides periodic on-site services, mobile calibration services, pickup and delivery services, in-house services at its 22 strategically located calibration service centers in the United States, Puerto Rico and Canada, and services at 20 integrated customer sites. The range and depth of measurement parameters taken into account by Transcat’s ISO / IEC 17025 accreditation scopes are considered to be the best in the industry.
Transcat also operates as a leading value-added distributor that markets, sells and leases new and used instruments of national and exclusive brands to customers primarily in North America. The Company believes that its combined service and distribution offerings, experience, technical expertise and integrity create a unique and compelling value proposition for its clients.
Transcat’s strategy is to leverage the complementary nature of its two operating segments, comprehensive service capabilities, strong brand, enhanced e-commerce capabilities and leading distribution platform to drive organic sales growth. The Company will also seek to expand its addressable benchmarking market through acquisitions and capacity investments to further leverage the leverage inherent in its business model.
You will find more information about Transcat on: Transcat.com.
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