ROCHESTER, N.Y., March 9, 2015 (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 March 6, 2015, Apex Metrology Solutions ("Apex"), a provider of accredited and commercial calibrations. Apex specializes in providing 3D metrology services through its Ft. Wayne, Indiana ISO 17025 accredited lab.
"Apex is a natural fit with Transcat and has a culture that is rooted in quality and service," commented Lee D. Rudow, President and CEO. "In addition, this acquisition addresses key elements of our strategy to grow our Service segment both geographically and through capability expansion. Our business has recently increased significantly in the Midwest, particularly within the healthcare and life science industries and the new lab establishes a foundation to better serve our customers and provides a platform to expand our presence in the region."
Transcat also announced that it received a significant enterprise order from a major customer who has elected to outsource their calibration program. The customer is a medical device manufacturer located in the Midwestern region of the U.S., and Apex will be instrumental in support of this new win.
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, particularly healthcare, which includes companies in pharmaceuticals, medical devices and bioscience. With 19 strategically-located centers of excellence in the United States, Canada and Puerto Rico, Transcat performs over 200,000 specialized technical services annually. 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 propriety brand instruments to nearly 30,000 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 growth and staffing are forward-looking statements. Forward-looking statements should be evaluated in light of important risk factors and uncertainties which are more fully described in Transcat's Annual and Quarterly Reports filed with the Securities and Exchange Commission. In light of these risks and assumptions made by the Company, actual results may vary materially from those currently anticipated and 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 any forward-looking statements contained in this press release.
CONTACT: For more information, contact: John J. Zimmer, Chief Financial Officer Phone: (585) 352-7777 Email: firstname.lastname@example.org -OR- Deborah K. Pawlowski, Investor Relations Phone: (716) 843-3908 Email: email@example.comSource:Transcat, Inc.