ROCHESTER, N.Y., Jan. 19, 2016 (GLOBE NEWSWIRE) -- 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 January 18, 2016, Dispersion Laboratory Inc. ("Dispersion") through its wholly-owned subsidiary, Transcat Canada Inc. Financial terms of the transaction were not disclosed. The addition of Dispersion, which focuses on the life sciences and pharmaceutical market, further advances the Company’s leading market presence throughout Canada.
Headquartered near Montreal, Quebec, Dispersion operates a state-of-the-art facility offering fully-accredited services for the calibration, repair and product sales of weights, balances, temperature instruments and liquid handling devices. Dispersion is accredited ISO/IEC 17025 by the Standards Council of Canada pursuant to the rigorous audit process of the National Research Council of Canada (NRC). Dispersion is currently serving Quebec, Ontario, Manitoba and British Columbia regions. Co-founders Pierre Trépanier and François Auclair will remain with Transcat.
Lee D. Rudow, President and Chief Executive Officer of Transcat, commented, “Dispersion is an excellent strategic fit for Transcat, aligning well with our strategy to grow in highly regulated industries, primarily the life sciences. We are also gaining the only laboratory in Canada offering automated mass calibrations under robotic control, enabling us to offer the highest level of quality and precision, which is highly valued by the life sciences and pharmaceutical industries.”
Pierre Trépanier, added, “Combining our unique capabilities with Transcat’s leading market position in Canada will allow us to provide greater support and a full suite of turnkey metrology solutions to our customers.”
Transcat has been expanding its service business in Canada, initially with its acquisition of Cal-Matrix Metrology in 2013, serving the Ontario, Manitoba and Quebec markets, followed by Ulrich Metrology in 2014. Those businesses specialized in the aerospace, electronics and general manufacturing industries.
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, including life science, aerospace, pharmaceuticals, medical device manufacturing and biotechnology. Transcat performs over 250,000 specialized technical services annually through a variety of delivery options, including permanent and periodic on-site services, mobile calibration services and in-house services (often accompanied by pick-up and delivery). The in-house services are offered through 20 Calibration Service Centers strategically located across the United States, Puerto Rico and Canada. 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 proprietary brand instruments to approximately 22,000 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 .
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 not statements of historical fact and thus are subject to risks, uncertainties and assumptions that often 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, capital expenditures, cash flows, operating income, growth strategy, potential acquisitions, market position, customer preferences 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 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.
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
