Transcat, Inc. (Nasdaq: TRNS), a leading global distributor of professional grade handheld test and measurement instruments and accredited provider of calibration, repair services, parts inspection and production model engineering, announced today that it has acquired privately-held United Scale and Engineering Corp., a regional market leading supplier and servicer of industrial scales and weighing systems. Based in Milwaukee, Wisconsin, United Scale and Engineering Corp. (“United”) provides weighing solutions, distributes major weighing, scale and balance lines and provides calibration, service and repair to its approximately 2,000 customers that are primarily located in Wisconsin, northern Illinois and Upper Michigan. United, which has been serving its customers for nearly 50 years, meets both ISO 9001 and ISO/ IEC 17025 accreditation standards. Charles P. Hadeed, President, CEO and COO of Transcat, commented, “A major component of our growth strategy is to acquire smaller calibration services companies within this highly fragmented industry which further broaden our calibration capabilities, geographically complement our current 12 calibration laboratories’ locations and capitalize on the strength of our infrastructure and reputation for quality, service and integrity. The acquisition of United meets these criteria as it adds depth to our capabilities and product offerings, and provides us with another Midwest location from which to further expand our customer base. We believe that United’s similar customer-focused philosophy of earning trust and respect through value will enable a smooth and rapid integration into Transcat.” Judy Trunec, President of United, will join Transcat and continue to manage the United operation. She commented, “We believe United’s strong reputation for quality, excellent service and the loyalty it has earned from its customers are excellent attributes to bring to Transcat, and we are excited about joining their organization. Combined, we expect to further strengthen our position in weighing solutions and services while offering a broader mix of services for our customers.”
Terms of the transaction were not disclosed.ABOUT TRANSCAT Transcat, Inc. is a leading global distributor of professional grade handheld test and measurement instruments and accredited provider of calibration, parts inspection, production model engineering and repair services primarily for the pharmaceutical and FDA-regulated, industrial manufacturing, energy and utilities, chemical process, and other industries. Through its distribution products segment, Transcat markets and distributes national and proprietary brand instruments to over 13,000 global customers. The Company offers access to more than 25,000 test and measurement instruments. Transcat delivers precise, reliable, fast calibration, parts inspection, production model engineering and repair services across the United States, Canada and Puerto Rico through its 12 strategically located Calibration Centers of Excellence. Transcat’s calibration laboratories are ISO-9001:2000 registered and the scope of accreditation to ISO/IEC 17025 is believed to be one of the broadest in the industry. Transcat’s growth strategy is to expand both its distribution products and calibration services in markets that value product breadth and availability and rely on accredited calibration services to maintain the integrity of their processes. More information about Transcat can be found on its website at: www.transcat.com Safe Harbor Statement This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are subject to risks, uncertainties and assumptions and are identified by words such as “expects,” “estimates,” “projects,” “anticipates,” “believes,” “could,” and other similar words. All statements addressing operating performance, events, or developments that Transcat, Inc. expects or anticipates will occur in the future, including but not limited to statements relating to anticipated revenue, profit margins, sales operations, its strategy to build its sales representative channel, customer preferences and changes in market conditions in the industries in which Transcat operates are forward-looking statements. Because they are forward-looking, they should be evaluated in light of important risk factors and uncertainties. These risk factors and uncertainties are more fully described in Transcat’s Annual and Quarterly Reports filed with the Securities and Exchange Commission, including under the heading entitled “Risk Factors.” 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. Except as required by law, the Company disclaims any obligation to update or publicly announce any revisions to any of the forward-looking statements contained in this press release.