RTTNews | Aug 31, 2021 08:54AM EDT

08:53 Tuesday, August 31, 2021 (RTTNews.com) - New York-headquartered Transcat, Inc. (TRNS), on Tuesday said it has purchased all the shares of Ireland-based privately held Cal Opex Limited (d/b/a NEXA Enterprise Asset Management), effective August 31 for $22.5 million.

Transcat is a provider of accredited calibration, repair, inspection and laboratory instrument services in United States, Puerto Rico and Canada. Cal Opex, provides calibration optimization and other technical solutions to improve asset and reliability management programs to pharmaceutical, biotechnology, and medical device companies.

NEXA has $7.5 million in annual revenue, with approximately 70% based in the United States and 30% in Ireland. The purchase price of $22.5 million consisted of $20.25 million in cash and $2.25 million in Transcat common stock. The deal also envisages potential earn-out payments of up to $7.5 million in common stock over the next four years provided NEXA achieves certain annual revenue and EBITDA goals.

NEXA's profitability profile with EBITDA margins in the mid-thirties, is expected to add to Transcat's service segment profitability.

TRNS closed Monday's trade at $66.57, down $0.08 or 0.12 percent over previous close.

Read the original article on RTTNews ( https://www.rttnews.com/3222185/transcat-enters-life-sciences-servicing-ireland-market-with-22-5-mln-nexa-buy.aspx)

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