---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-23-022398"
form_type: "8-K"
ticker: "TRNS"
cik: "0000099302"
company_name: "TRANSCAT INC"
filed_at: "2023-08-08T23:59:59+00:00"
generated_at: "2026-06-12T03:34:38.770686+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Transcat acquires Axiom Test Equipment for $38M; combines rental businesses

## Summary
- Acquired Axiom Test Equipment for $38M ($28M in stock, $10M cash) on Aug 8, 2023.
- Combined rental business expected ~$24M revenue with gross margins >55%.
- Little overlap in rental assets/customers; cross-sell opportunity cited.
- Axiom President Josh Shilts to remain leading the team.

## SEC filing metadata
- accession: 0001437749-23-022398
- form_type: 8-K
- ticker: TRNS
- cik: 0000099302
- company_name: TRANSCAT INC
- filed_at: 2023-08-08T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 2.01, 3.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/99302/000143774923022398/0001437749-23-022398-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/99302/000143774923022398/trns20230802_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-23-022398
- JSON: https://secwatch.observer/filing/0001437749-23-022398.json
- Plain text: https://secwatch.observer/filing/0001437749-23-022398.txt

## Key facts
- M&A Transactions
  TRANSCAT INC completed an acquisition involving Axiom Test Equipment, Inc. for $38 million (closed 2023-08-08).
  - Action: acquisition
  - Counterparty: Axiom Test Equipment, Inc.
  - Consideration: $38 million
  - Closing: 2023-08-08
  source text: or any associate of any such director or officer, other than in respect of the transaction. Pursuant to the Agreement, the Company acquired all of the capital stock of Axiom for $38 million, which was paid for in combination of the Company’s common stock, par value $0.50 per share (“Common Stock”), with a value up to $28 million, or up to 315,403 shares (the
  evidence_url: https://www.sec.gov/Archives/edgar/data/99302/000143774923022398/0001437749-23-022398-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.