ROCHESTER, NY, March 27, 2023 – Transcat, Inc. (Nasdaq: TRNS) (“Transcat” or the “Company”), a leading provider of accredited calibration services, enterprise asset management services, and value-added distributor of professional grade handheld test, measurement and control instrumentation, announced that it has purchased all of the capital stock of privately-held TIC-MS, Inc. (TIC-MS), effective March 27, 2023. The purchase price of $9.7 million was paid in combination of 70% stock and 30% cash and is subject to certain customary holdback provisions.  

Founded in 1986, TIC-MS is an ISO/IEC 17025 accredited calibration laboratory with an extensive scope specializing in physical dimensional and electronics capabilities.   TIC-MS services a diverse customer base with accredited calibrations performed at both the customer’s location and at their recently built calibration laboratory located in St. Louis, Missouri.   Existing leadership and staff will remain onboard and continue to service customer needs.

“With over thirty-five years in the industry, TIC-MS is a well-established, quality-focused business with strong leadership.  This acquisition strengthens our presence in this marketplace, complementing nicely with the capabilities and customers served by our existing Transcat St. Louis Lab,” commented Lee Rudow, President and Chief Executive Officer.  “Additionally, our future plans include co-locating the two operations, leveraging the infrastructure synergies of one lab location and drive efficiencies.  This combination will more than double our existing presence in the region.”