Jan 24 2011
Transcat has declared that it has closed the purchase of the entire assets of Lincoln, Montana-based Wind Turbine Tools and its affiliated companies. With this acquisition, Transcat has strengthened its footprint in the wind power market. The company had signed a non-binding Letter of Intent to buy Wind Turbine Tools on November 23, 2010.
Transcat is a supplier of professionally rated handheld measurement and test equipment and a certified company that offers maintenance, calibration and weighing system services to the wind power industry.
Transcat has acquired Wind Turbine Tools in an all cash deal. However, the conditions of the deal were not revealed. Wind Turbine Tools is offering proprietary product tool kit solutions, torque computation, technical assistance and hydraulic services to the wind power market. Jim Daugherty, founder of Wind Turbine Tools will continue as Director of Wind Energy Sales at Transcat.
The President, Chief Executive Officer and Chief Operating Officer at Transcat, Charles P. Hadeed, said that the purchase would support the company’s growth in the wind power business.