ROCHESTER, N.Y.–(BUSINESS WIRE)–Transcat, Inc. (Nasdaq: TRNS), a leading provider of accredited calibration, repair, inspection and laboratory instrument services and value-added distributor of professional grade handheld test, measurement and control instrumentation, announced the appointments of Craig D. Cairns and Mbago M. Kaniki to its Board of Directors, effective May 12, 2021. These additions fill the vacancies that were created by the retirement of John Smith in January 2021 and Alan Resnick, who departed from the Board in September 2020. Both new Directors are considered independent.
“Mbago and Craig both bring extensive leadership experience and expertise in driving business growth and transformation through effective strategic planning and execution,” commented Gary J. Haseley, Transcat’s Chairman of the Board. “Additionally, we believe their considerable experience with client relations, capital allocation and sales and marketing will complement our existing Board and enable them to be immediate and effective contributors.”
Mr. Kaniki has served as Chief Executive Officer of Adansonia Management LLC, an investment firm, since March 2013. He was Chief Executive Officer of Alva Charge LLC, an electric vehicle charging company, from May 2016 to April 2021. For nearly 20 years, Mr. Kaniki has invested in private and public companies at various investment firms, including as a Managing Director and the Head of Strategic Investments at 40 North Industries; a Senior Analyst at Anchorage Capital Group; a Principal at Sageview Capital; and a Vice President at The Carlyle Group. Mr. Kaniki currently serves as a Director at Touch Foundation, a non-profit organization working to improve health system capacity in Africa. He brings a strong history of contributions and service to the non-profit industry. He earned a Bachelor of Arts in Economics from Harvard University.
Mr. Cairns has more than 25 years of investment experience and is currently the Chairman, President and majority owner of Howe & Rusling, Inc., a Registered Investment Advisor with $1.4 billion in assets under management. He joined Howe & Rusling in 2000 and was named President in 2003, where he has been responsible for the day-to-day operations and strategic vision for the firm. Previously, he spent four years with Manning & Napier, as a Vice President and Client Consultant. Mr. Cairns is also a U.S. Army veteran that served in the Gulf War as an Apache helicopter pilot. He holds an MBA in finance from the University of Rochester’s William E. Simon School and a BS in Economics and History from St. Bonaventure University. He has a strong history serving on the boards of non-profits.
ABOUT TRANSCAT
Transcat, Inc. is a leading provider of accredited calibration, repair, inspection and laboratory instrument services. The Company is focused on providing best-in-class services and products to highly regulated industries, particularly the Life Science industry, which includes pharmaceutical, biotechnology, medical device and other FDA-regulated businesses; as well as aerospace and defense, and energy and utilities. Transcat provides periodic on-site services, mobile calibration services, pickup and delivery, in-house services at its 22 Calibration Service Centers strategically located across the United States, Puerto Rico and Canada, and services at 20 imbedded customer-site locations. The breadth and depth of measurement parameters addressed by Transcat’s ISO/IEC 17025 scopes of accreditation are believed to be the best in the industry.
Transcat also operates as a leading value-added distributor that markets, sells and rents new and used national and proprietary brand instruments to customers primarily in North America. The Company believes its combined Service and Distribution segment offerings, experience, technical expertise and integrity create a unique and compelling value proposition for its customers.
Transcat’s strategy is to leverage the complementary nature of its two operating segments, its comprehensive service capabilities, strong brand, enhanced e-commerce capabilities and leading distribution platform to drive organic sales growth. The Company will also look to expand its addressable calibration market through acquisitions and capability investments to further realize the inherent leverage of its business model.
More information about Transcat can be found at: Transcat.com.
