Benzinga | Aug 31, 2021 08:08AM EDT

Transcat, Inc. Says Has Purchased All Capital Stock Of Cal Opex For $22.5M Purchase Price

Transcat, Inc. (NASDAQ:TRNS) ("Transcat" or the "Company"), a leading provider of accredited calibration, repair, inspection and laboratory instrument 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 Cal Opex Limited (d/b/a NEXA Enterprise Asset Management), effective August 31, 2021. The purchase price of $22.5 million consisted of $20.25 million in cash and $2.25 million in Transcat common stock. Additionally, there are potential earn-out payments of up to $7.5 million over the next four years based upon NEXA achieving certain annual revenue and EBITDA goals. If achieved, the earn-out payments will also be made in common stock.