Transcat (TRNS) has shared an announcement.
Transcat, Inc. has expanded its portfolio by acquiring Becnel Rental Tools, LLC, a provider of rental tools and services for oil well decommissioning and maintenance, for approximately $50 million, consisting of cash and common stock. The transaction included customary holdback provisions and lock-up agreements, with a commitment to register the stock for resale, ensuring a strategic growth move for Transcat without any prior material relationships between the entities involved. The acquisition aims to enhance Transcat’s offerings in the industrial sector, marking a notable development in its business trajectory.
Find detailed analytics on TRNS stock on TipRanks’ Stock Analysis page.
