Transcat Establishes Calibration Presence in Ireland with Acquisition of Complete Calibrations and acquires Cleveland-based e2b Calibration

Transcat, Inc. (Nasdaq: TRNS) (“Transcat” or the “Company”), a leading provider of accredited calibration services, enterprise asset management services, and value-added distributor of professional grade handheld test, measurement and control instrumentation, announced that it has purchased all of the capital stock of privately-held Galium Limited (d/b/a Complete Calibrations), effective September 28, 2022. The purchase price was $1.2 million and was paid in cash. In addition, the Company also announced that it acquired substantially all of the assets of e2b Calibration, effective September 27, 2022. The purchase price of this transaction was $3.15 million and was also paid in cash.

Founded in 2006 and based in Cork, Ireland, Complete Calibrations is an ISO 17025 accredited calibration company specializing in calibration services for the life sciences industry. Darren O’Sullivan, founder of Complete Calibrations, will continue to lead the business and is a pioneer and thought leader in the area of calibration robotics that improve the productivity, quality, and turnaround times in calibration laboratory environments.

e2b Calibration, an ISO/IEC 17025 accredited calibration service provider, was founded in Cleveland, Ohio in 2003 and moved into a new state-of-the-art facility in 2021. e2b provides a broad range of calibration services across multiple industries and is a national leader in the maintenance, calibration and repair of Ground Support Equipment utilized by the aviation industry.

“Today is an exciting day for Transcat as we announce two acquisitions that we believe will contribute nicely toward our long-term strategic and financial goals. Complete Calibrations is a small, but very strategic acquisition for Transcat. First, it provides Transcat with a local calibration presence to support the robust and growing life science market in Ireland,” commented Lee Rudow, President and Chief Executive Officer. “Additionally, the acquisition includes all current and future intellectual property related to the development of calibration robots. Darren has spent over 10 years developing robotics for calibrations and our vision is to leverage this promising robotics technology over time in both Ireland and North America to further enhance our automation initiatives and differentiate Transcat from our competitors by driving gains in efficiency and quality while improving turnaround times for our customers.”