ROCHESTER, N.Y., Aug. 29, 2014 (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 today that it has acquired, effective as of August 31, 2014, Ulrich Metrology Inc. ("Ulrich"), a leading Canadian provider of accredited and commercial calibrations with annualized revenue of $3.7 million. Founded in 1976 and headquartered in Montreal, Ulrich specializes in providing custom metrology solutions for the aerospace and defense, industrial manufacturing and life science industries. Ingrid Ulrich, President of Ulrich, and Ronald Barry, General Manager, will be remaining with Transcat.
Lee D. Rudow, President and Chief Executive Officer of Transcat, commented, "This acquisition extends our reach into the calibration market in Canada, providing a larger customer base specifically in both Montreal and Ottawa. In addition, their experience and capabilities enhance our current operations, which we believe will enable further growth. Ulrich's technical capabilities, accreditations and quality focus are directly aligned with Transcat's value proposition."
Ulrich offers ISO/IEC 17025-accredited and commercial calibrations services within the dimensional, electrical, force, pressure, temperature and torque disciplines.
"Joining Transcat is a positive next step for the expansion of our business based on our shared corporate values and mutual dedication to quality," said Ingrid Ulrich. "As a combined company, we will provide continuity to our customers and growth opportunities to our valued employees."
Ronald Barry added, "We have heard and listened to our customers requesting Ulrich to increase our offering and to have a broader North American presence. The combination of Ulrich with Transcat provides a significant opportunity to expand our overall scope of service by leveraging Transcat's market leading positions in Canada and the United States."
ABOUT TRANSCAT
Transcat, Inc. is a leading provider of accredited calibration and compliance services including analytical instrument qualifications, equipment and process validation. Targeted industries include life science, biotechnology, medical device, pharmaceutical and other FDA-regulated industries, industrial manufacturing, energy and utilities, chemical manufacturing and other industries. Throughout its 18 strategically located centers of excellence in the United States, Canada and Puerto Rico, Transcat delivers precise services with reliable turn-around times. The breadth and depth of measurement parameters addressed by Transcat's ISO/IEC 17025 scopes of accreditation are believed to be among the best in the industry.
In addition, Transcat operates as a leading distributor of professional grade handheld test, measurement and control instrumentation. Through its Distribution segment, Transcat markets and distributes premier and propriety brand instruments to nearly 15,000 customers. The Company offers access to more than 25,000 test, measurement and control products.
Transcat's growth strategy is to expand its service and distribution platform comprised of a balanced suite of test products and analytical, calibration, compliance, and validation services. The goal is to deliver specialized technical services with a quality assurance approach, which maximizes document accuracy and on-time job delivery. Transcat answers the call with cGMP, GLP, and GXP compliant services. Transcat can provide life science companies with a reliable alternative service and product solution to the OEMs and to the "generalist" service providers who cannot meet the client's specialized needs.
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, growth strategy, potential acquisitions, 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.