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Transcat repurchases $5.6M worth of company stock

Transcat Inc. has repurchased $5.6 million worth of shares of the company’s stock.

The company repurchased 696,138 shares at $8.10 a share. It paid for the transaction with its existing credit facility. It bought the shares from a shareholder, not affiliated with the company, in a privately negotiated deal.

As of Aug. 6, prior to the repurchase, the company had 7.4 million shares outstanding of its common stock.

Transcat provides a variety of test products and services nationwide. Bioscience companies and medical device companies are among its target clientele.

(c) 2013 Rochester Business Journal. To obtain permission to reprint this article, call 585-546-8303 or email [email protected].

 

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