Transcat, Inc. acquired Axiom Test Equipment, Inc. for $38.6 million.
August 07, 2023
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Transcat, Inc. (NasdaqGM:TRNS) acquired Axiom Test Equipment, Inc. for $38.6 million on August 8, 2023. The consideration was paid for in combination of Transcat's common stock, valued at $28.6 million, or up to 315,403 shares of Common Stock, of which 43,583 Shares valued at approximately $3.9 million are subject to certain customary holdback provisions for certain potential post-closing adjustments and $10 million in cash. The existing staff and leadership team, led by current Axiom President Josh Shilts, will remain in place, and will continue to service customer needs.
Transcat, Inc. (NasdaqGM:TRNS) completed the acquisition of Axiom Test Equipment, Inc. on August 8, 2023.
Transcat, Inc. is a provider of accredited calibration, reliability, maintenance optimization, quality and compliance, validation, computerized maintenance management system (CMMS), and pipette services. The Company is focused on providing services and products to regulated industries, particularly the life science industry, which includes pharmaceutical, biotechnology, medical device, and other FDA-regulated businesses, as well as aerospace and defense, and energy and utilities. Its Service segment offers calibration, repair, inspection, analytical qualifications, preventative maintenance, consulting and other related services, a majority of which are processed through its asset management system, CalTrak and its online customer portal, C3. Its Distribution segment sells and rents national and brand instruments to customers globally. It provides periodic on-site services, mobile calibration services, pickup and delivery, in-house services at its 27 calibration service centers.
TRANSCAT, INC. 
