Transcat Inc. (NASDAQ:TRNS), a prominent provider of accredited calibration services and value-added rental/distribution of professional-grade handheld test, measurement, and control instrumentation, has declared that Mark Doheny will resign from his position as Chief Operating Officer, effective immediately. Mr. Doheny will continue to serve as a consultant to aid in the transition until October 2024.
We are pleased to announce the promotion and appointment of Mike West, who currently serves as Senior Vice President of Operations, to succeed Mr. Doheny.
“As we embark on the next phase of Transcat’s growth journey, I believe it is the opportune moment to transition our operational leadership,” stated Lee Rudow, CEO and President. “With over a decade of invaluable experience at Transcat, Mike possesses a profound understanding of our Company’s trajectory, our exceptional teams, and our robust position in the markets we operate in. Mike has played a pivotal role in driving our Service productivity initiatives, which have fueled growth and substantial margin improvement. His strategic acumen and execution capabilities within our expanding organization have consistently contributed to our profitability. He has also been instrumental in integrating our acquired businesses and leading the expansion of our pipette and rental divisions. I am confident that Mike will excel in leading our operational functions.”
“Transcat has demonstrated a remarkable ability to achieve consistent sales and margin growth over an extensive period. We are now better positioned than ever to sustain our strong performance, both organically and through acquisitions. By leveraging the operational excellence we have cultivated during our sustained period of growth, we anticipate further expansion into new markets,” added Mr. Rudow. “I eagerly anticipate Mike’s leadership as our Chief Operating Officer, as we continue to reinforce our competitive advantages within our target markets. I have full confidence in the Company’s capacity to deliver enhanced results and sustainable growth for our shareholders, both through organic means and strategic acquisitions.”
Rudow concluded, “On behalf of the entire Company, I extend my gratitude to Mark for his dedicated service to Transcat over the past four years. During his tenure as CFO and COO, Mark played a vital role in reshaping our Company’s strategies and assembling our executive team. We are thankful for Mark’s ongoing assistance to ensure a seamless transition and wish him all the best in his future endeavors.”
About Transcat
Transcat, Inc. is a leading provider of accredited calibration, reliability, maintenance optimization, quality and compliance, validation, computerized maintenance management system, and pipette services. The Company specializes in delivering best-in-class services and products to highly regulated industries, particularly the Life Science sector, encompassing pharmaceutical, biotechnology, medical device, and other FDA-regulated enterprises, as well as aerospace and defense, and energy and utilities. Transcat offers periodic on-site services, mobile calibration services, pickup and delivery, as well as in-house services at its 27 Calibration Service Centers strategically located across the United States, Puerto Rico, Canada, and Ireland. Additionally, Transcat operates calibration labs in 21 embedded customer-site locations. The extensive range of measurement parameters addressed by Transcat’s ISO/IEC 17025 scopes of accreditation is believed to be among the most comprehensive in the industry.
Furthermore, Transcat serves as a leading value-added distributor, marketing, selling, and renting new and used national and proprietary brand instruments primarily in North America. The Company believes that its combined Service and Distribution segment offerings, coupled with its experience, technical expertise, and integrity, create a compelling value proposition for its customers.
Transcat’s strategy focuses on leveraging its strong brand and unique value proposition, including its comprehensive instrument service capabilities, cost control and optimization services, and leading distribution platform, to drive organic sales growth. Additionally, the Company aims to expand its addressable calibration market through strategic acquisitions and capability investments to further capitalize on its business model’s inherent leverage. Additional information about Transcat can be found at transcat.com.
