Transcat, Inc., a leading provider of accredited calibration, cost control, and optimization services, has announced its acquisition of privately-held Martin Calibration Inc. (Martin) for $79 million. The deal, finalized on December 10, 2024, includes $69 million in cash and $10 million in company stock, subject to customary adjustments and holdback provisions. This acquisition positions Transcat to expand its services across the Midwest, particularly in regions rich in the medical device and life sciences sectors.
Martin Calibration, an ISO-17025 accredited network with nearly 35 years of experience, is a recognized leader in the Midwest metrology business. With revenues exceeding $25 million, Martin operates a flagship lab in Minneapolis, as well as six other locations in Chicago, Milwaukee, Eau Claire, Tempe, and Los Angeles. The company specializes in servicing highly regulated sectors such as medical, life sciences, aerospace, and nuclear industries, offering both in-lab and on-site calibration services.
Strategic Synergies and Growth Opportunities
“This acquisition is a major step forward for Transcat,” stated Lee Rudow, President and CEO of Transcat. “Martin has an outstanding reputation for quality and capability, making it a perfect fit for our strategic objectives. The acquisition will extend our geographic footprint, enhance our expertise, and create additional opportunities in Los Angeles and Tempe, which will integrate seamlessly with our existing infrastructure.”
The Minneapolis lab, located in a key area for medical device and life sciences companies, represents a strategic expansion for Transcat into a region long considered vital for growth. The acquisition will also strengthen Transcat’s ability to meet customer needs across a broader range of industries, leveraging its combined resources to offer enhanced calibration services.
Commitment to Quality and Customer Satisfaction
Rick Brion, the owner of Martin Calibration, expressed his pride in building the company and his trust in Transcat’s leadership. “I’ve always believed that if I were to sell Martin, it would only be to Transcat,” Brion said. “Their commitment to employees, strong company culture, and focus on high-quality services make them the ideal partner for our business. I’m excited to see the positive impact of this merger on our customers and employees.”
Transcat’s acquisition of Martin will also bring nearly 150 skilled employees into the Transcat family, contributing to the company’s collective 100 years of industry experience. Rudow added, “Together, we will be stronger, more efficient, and poised for continued growth.”
Transcat’s Vision and Market Leadership
Transcat’s growth strategy is focused on expanding its service offerings in regulated industries, particularly in the life sciences, medical devices, aerospace, and energy sectors. The company’s comprehensive suite of services includes calibration, quality compliance, and maintenance optimization across 26 Calibration Service Centers located in the U.S., Puerto Rico, Canada, and Ireland. Transcat’s expanding geographic reach and its technical expertise offer a unique value proposition for customers looking for quality-driven, compliant calibration services.
This acquisition not only strengthens Transcat’s market position but also helps the company leverage synergies in automation, cost reduction, and operational efficiency, furthering its mission of growth and innovation in the calibration industry.
About Transcat, Inc.
Founded in 1964 and headquartered in Rochester, New York, Transcat is a leading provider of accredited calibration and testing services, as well as a distributor of professional-grade test and measurement instruments. The company serves highly regulated sectors such as pharmaceutical, biotechnology, aerospace, and medical devices, providing industry-leading calibration services at over 50 locations across North America and Ireland.
For more information about Transcat, visit Transcat.com.
Forward-Looking Statements
This release contains forward-looking statements regarding Transcat’s anticipated market growth, integration of the acquisition, and strategic objectives. These statements are based on current expectations and subject to risks that could cause actual outcomes to differ materially. For a complete list of risk factors, see Transcat’s most recent SEC filings.
