Transcat Inc., a distributor of professional-grade handheld test and measurement instruments has completed the acquisition of substantially all of the assets of Wind Turbine Tools Inc. and affiliated entities. The purchase was an all-cash transaction, although terms were not disclosed.
Jim Daugherty, founder of Lincoln, Montana-based Wind Turbine Tools, will remain with Transcat as director of wind energy sales.
Transcat entered into a nonbinding letter of intent to acquire Wind Turbine Tools in November 2010.
SOURCE: Transcat Inc.