TRANSCAT INC reported financial results for fiscal fourth quarter and year ended March 28, 2026.
“On May 26, 2026, Transcat, Inc. (the “Company”) issued a press release announcing its financial results for its fiscal fourth quarter and year ended March 28, 2026.”
M&A Transactions
TRANSCAT INC completed an acquisition involving Essco Calibration Laboratory, LLC for $84.0 million in cash (closed 2025-08-05).
“or officer of the Company, or any associate of any such director or officer. Pursuant to the Purchase Agreement, the Company acquired all the membership units of Essco for $84.0 million in cash subject to customary holdback and adjustment provisions set forth in the Purchase Agreement. The Purchase Agreement contains various representations, warranties,”
Debt Financings
TRANSCAT INC incurred revolving credit of $150.0 million secured revolving credit facility with Manufacturers and Traders Trust Company at SOFR plus the Applicable Margin maturing July 29, 2030.
“On July 29, 2025, Transcat, Inc. (the “Company”) entered into a Credit Agreement (the “Credit Agreement”) with a group of three lenders which establishes a new five-year $150.0 million secured revolving credit facility (the “Credit Facility”).”
Auditor Changes
TRANSCAT INC engaged Deloitte as its auditor.
“As previously disclosed in the Original Report, the Company engaged Deloitte as the Company’s independent registered public accounting firm for the fiscal year ending March 28, 2026, beginning with the review of the Company’s consolidated financial statements for the quarter ending June 28, 2025.”
Auditor Changes
TRANSCAT INC dismissed Freed Maxick as its auditor.
“on February 6, 2025, the Company notified Freed Maxick of its dismissal as the Company’s independent registered public accounting firm effective as of the date Freed Maxick completed its audit of the Company’s consolidated financial statements for the fiscal year ended March 29, 2025.”
Scott D. Deverell departed as Corporate Controller and Principal Accounting Officer at TRANSCAT INC.
“On April 1, 2025, Scott D. Deverell notified Transcat, Inc. (the “Company”) of his intention to retire from his position as Corporate Controller and Principal Accounting Officer of the Company.”
Auditor Changes
TRANSCAT INC engaged Deloitte & Touche LLP as its auditor.
“On February 10, 2025, the Company engaged Deloitte & Touche LLP (“Deloitte”) as the Company’s independent registered public accounting firm for the fiscal year ending March 28, 2026, beginning with the review of the Company’s consolidated financial statements for the quarter ending June 28, 2025.”
Auditor Changes
TRANSCAT INC dismissed Freed Maxick P.C. (f/k/a Freed Maxick CPAs, P.C.) as its auditor.
“the Company notified Freed Maxick P.C. (f/k/a Freed Maxick CPAs, P.C., “Freed Maxick”), which is currently serving as the Company’s independent registered public accounting firm, of its dismissal effective immediately following Freed Maxick’s completion of the audit of the Company’s consolidated financial statements as of and for the fiscal year ending March 29, 2025 and the issuance of their report thereon.”
M&A Transactions
TRANSCAT INC completed an acquisition involving Martin Holding Inc. (the Seller), Martin Calibration LLC, and Richard L. Brion for $79 million (closed 2024-12-10).
“director or officer of the Company, or any associate of any such director or officer. Pursuant to the Agreement, the Company acquired all of the membership units of Martin for $79 million, subject to customary adjustments set forth in the Agreement, consisting of a combination of (i) $69 million in cash and (ii) approximately $10 million in shares of the Company’s”
James M. Jenkins resigned as Chief Legal and Corporate Development Officer at TRANSCAT INC.
“James M. Jenkins notified the board of directors of Transcat, Inc. (the “Company”) of his intention to resign as Chief Legal and Corporate Development Officer of the Company effective as of June 1, 2024.”
Material Agreements
TRANSCAT INC amended Second Amendment with John Cummins and Ross Lane (effective 2024-05-20).
“On May 20, 2024, Transcat, Inc. (the “Company”) entered into an amendment (the “Second Amendment”) to a Share Purchase Agreement dated August 31, 2021 (the “Purchase Agreement”) with John Cummins and Ross Lane (the “Sellers”)”
James M. Jenkins resigned as Chief Legal and Corporate Development Officer at TRANSCAT INC.
“James M. Jenkins notified the board of directors of Transcat, Inc. (the “Company”) of his intention to resign as Chief Legal and Corporate Development Officer of the Company effective as of June 1, 2024.”
M&A Transactions
TRANSCAT INC completed an acquisition involving Becnel Rental Tools, LLC for approximately $50.0 million (closed 2024-04-15).
“affiliates, or any director or officer of Transcat, or any associate of any such director or officer. Pursuant to the Agreement, the Company acquired Becnel for approximately $50.0 million (the “Acquisition”), consisting of a combination of (i) $17.5 million in cash and (ii) approximately $32.5 million of the Company’s common stock, par value $0.50 per share”
Mark Doheny was terminated as Chief Operating Officer at TRANSCAT INC.
“Also as of the Effective Date, Mark Doheny was terminated as Chief Operating Officer of the Company.”
Michael West was appointed as Chief Operating Officer at TRANSCAT INC.
“Effective as of April 8, 2024 (the “Effective Date”), Michael West was appointed as the Chief Operating Officer of Transcat, Inc. (the “Company”).”
Earnings Releases
TRANSCAT INC reported the third quarter ended December 23, 2023 results: revenue $65,166, net income $3,348, EPS $0.56.
TRANSCAT INC reported financial results for second quarter ended September 23, 2023.
“On October 30, 2023, Transcat, Inc. (the “Company”) issued a press release announcing its financial results for its fiscal year 2024 second quarter ended September 23, 2023.”
Dawn DePerrior was appointed as director at TRANSCAT INC.
“appointed Dawn DePerrior to the Board, effective immediately.”
Material Agreements
TRANSCAT INC entered into Underwriting Agreement with Oppenheimer & Co. Inc., as representative of the several underwriters named in Schedule I thereto valued at public offering price of $95.00 per share, net proceeds to the Company expected to be approximately (effective 2023-09-21).
“On September 21, 2023, Transcat, Inc. (the "Company" or "Transcat") entered into an underwriting agreement (the "Underwriting Agreement") with Oppenheimer & Co. Inc. , as representative of the several underwriters named in Schedule I thereto (the "Underwriters"), in connection with the offer and sale of 736,845 shares of the Company’s common stock”
Material Agreements
TRANSCAT INC amended Amendment with John Cummins and Ross Lane valued at up to $7,125,000 (effective 2023-09-11).
“On September 11, 2023, Transcat, Inc. (the “Company”) entered into an amendment (the “Amendment”) to a Share Purchase Agreement dated August 31, 2021 (the “Purchase Agreement”) with John Cummins and Ross Lane (the “Sellers”)”
Shareholder Votes
TRANSCAT INC shareholders approved Ratification of independent registered public accounting firm at the 2023-09-06 meeting.
“The Company’s shareholders ratified the selection of Freed Maxick CPAs, P.C. as the Company’s independent registered public accounting firm for the fiscal year ending March 30, 2024. Votes For Votes Against Votes Abstained 7,084,670 6,222 2,435”
Shareholder Votes
TRANSCAT INC shareholders approved Advisory vote on executive compensation at the 2023-09-06 meeting.
“The Company’s shareholders approved, on an advisory basis, the compensation of the Company’s named executive officers. Votes For Votes Against Votes Abstained Broker Non-Votes 6,603,935 119,485 17,142 352,765”
Shareholder Votes
TRANSCAT INC shareholders approved Election of Directors at the 2023-09-06 meeting.
“The Company’s shareholders elected the following nominees as directors, each to serve for a three-year term expiring in 2026. Director Nominee Votes For Authority Withheld Broker Non-Votes Christopher P. Gillette 6,593,703 146,859 352,765 Gary J. Haseley 6,553,366 187,196 352,765 Mbago M. Kaniki 5,218,436 1,522,126 352,765”
M&A Transactions
TRANSCAT INC completed an acquisition involving Axiom Test Equipment, Inc. for $38 million (closed 2023-08-08).
“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”
Earnings Releases
TRANSCAT INC reported financial results for first quarter ended June 24, 2023.
“On July 31, 2023, Transcat, Inc. (the “Company”) issued a press release announcing its financial results for its fiscal year 2024 first quarter ended June 25, 2023.”
Earnings Releases
TRANSCAT INC reported financial results for fiscal fourth quarter and year ended March 25, 2023.
“On May 22, 2023, Transcat, Inc. (the “Company”) issued a press release announcing its financial results for its fiscal fourth quarter and year ended March 25, 2023.”
Earnings Releases
TRANSCAT INC reported the fiscal year 2023 third quarter ended December 24, 2022 results: revenue $ 57,402, net income $ 1,601, EPS $ 0.21.
“Third Quarter Fiscal 2023 Review (Results are compared with the third quarter of the fiscal year ended March 26, 2022 ( “ fiscal 2022 ” )) ($ in thousands) Change FY23 Q3 FY22 Q3 $'s % Service Revenue $ 35,977 $ 30,237 $ 5,740 19.0 % Distribution Sales 21,425 20,665 760 3.7 % Revenue $ 57,402 $ 50,902 $ 6,500 12.8 % Gross Profit $ 16,400 $ 13,636 $ 2,764 20.3 % Gross Margin 28.6 % 26.8 % Operating Income $ 3,163 $ 2,361 $ 802 34.0 % Operating Margin 5.5 % 4.6 % Net Income $ 1,601 $ 1,629 $ (28 ) (1.7 )% Net Margin 2.8 % 3.2 % Adjusted EBITDA* $ 6,585 $ 5,466 $ 1,119 20.5 % Adjusted EBITDA* Margin 11.5 % 10.7 % Diluted EPS $ 0.21 $ 0.21 $ - 0.0 %”
Earnings Releases
TRANSCAT INC reported fiscal year 2023 second quarter ended September 24, 2022 results: revenue $56.4 million, net income $ 2,357, EPS $0.31.
“($ in thousands) Change FY23 Q2 FY22 Q2 $'s % Service Revenue $ 35,267 $ 29,544 $ 5,723 19.4% Distribution Sales 21,172 20,843 329 1.6% Revenue $ 56,439 $ 50,387 $ 6,052 12.0% Gross Profit $ 16,767 $ 14,611 $ 2,156 14.8% Gross Margin 29.7% 29.0% Operating Income $ 3,626 $ 3,578 $ 48 1.3% Operating Margin 6.4% 7.1% Net Income $ 2,357 $ 3,015 $ (658) (21.8%) Net Margin 4.2% 6.0% Adjusted EBITDA* $ 7,531 $ 7,079 $ 452 6.4% Adjusted EBITDA* Margin 13.3% 14.0% *See Note 1 on page 4 for a description of this non-GAAP financial measure and page 10 for the Adjusted EBITDA Reconciliation table. Consolidated revenue was $56.4 million, an increase of 12.0%. Consolidated gross profit was $16.8 million, an increase of $2.2 million, or 14.8%, and gross margin expanded 70 basis points to 29.7% due to strong performance in the Distribution segment. Operating expenses increased $2.1 million, or 19.1%, driven by incremental expenses from acquired businesses (including stock-based compensation expense),”
Thomas L. Barbato was appointed as Chief Financial Officer and Treasurer at TRANSCAT INC.
“Additionally, as of the Effective Date, Thomas L. Barbato has been appointed as the Company’s Chief Financial Officer and Treasurer.”
Mark A. Doheny was appointed as Chief Operating Officer at TRANSCAT INC.
“Effective August 1, 2022 (the “Effective Date”), Mark A. Doheny has been appointed as the Company’s Chief Operating Officer, having formerly served as the Company’s Chief Financial Officer and Treasurer until such date.”
Carl E. Sassano resigned as Director at TRANSCAT INC.
“On July 25, 2022, Carl E. Sassano notified Transcat, Inc. (the “Company”) and its Board of Directors (the “Board”) of his decision to retire and resign from the Board, effective close of business on July 26, 2022.”
Facts are extracted by an LLM and gated to those whose source quote is present verbatim in the filing text. Coverage is best-effort while backfill and monitoring mature; this is not yet a full-market index. See methodology.