Boston, MA 08/29/2014 (wallstreetpr) – Transcat, Inc. (NASDAQ:TRNS) said they acquired Ulrich Metrology Inc, a move that expands their operations in Canada and also answers the calls of customers there. They said Ulrich specializes in custom metrology solutions for the manufacturing, aerospace and defense industries. Ulrich’s President, Ingrid Ulrich and General Manager, Ronald Barry, will remain with Transcat.
Transcat is a $60 million business organization and a major provider of accredited calibration. They are also into the business of distributing professional grade handheld test. Ulrich is also an industry leading provider of accredited and commercial calibrations in Canada. The business has an annualized revenue of $3.7 million. Ulrich also offers commercial calibration services in disciplines such as electrical, temperature, dimensional and pressure. They solutions are ISO/IEC 17025 accredited.
Perfect match
According to Transcat, Inc. (NASDAQ:TRNS) executives, adding Ulrich to their portfolio marks another big step in the right direction. Commenting on the acquisition move, President and CEO, Lee D. Rudow, noted that the acquisition will extend their reach in the Canadian calibration market, especially by providing a larger customer base in Ottawa and Montreal. He said that the capabilities and experience of Ulrich will not only enhance their current operations, but also perfectly match what they believe – quality.
As for Ulrich’s executives, joining forces with Transcat combines shared corporate values and mutual dedication to quality. Mr. Ulrich stated that the combined entity will provide continuity to their customers as much as it will provide growth opportunities to their employees. The other Ulrich executive, Barry, observed that the combination of Transcat and Ulrich answers the need of their customers who have often asked for a broader presence in North America.
Credit facility boosted
Transcat, Inc. (NASDAQ:TRNS)’s acquisition of Ulrich comes just when the company recently moved to increase its revolving credit facility. They boosted the kitty to $30 million from $20 million. They also increased the borrowing available for acuities to bring the cap to $15 million from the previous $10 million.
