Transcat, Inc. Acquires South Louisiana Company for $50 Million: Impact on Local Economy and Entrepreneurship

Transcat, Inc. Acquires South Louisiana Company for $50 Million

MONROE, La. (KNOE) – Transcat, Inc., a leading provider of calibration, cost control, and optimization services based in Rochester, N.Y., made a significant announcement on Monday. The company has acquired a south Louisiana company for a whopping $50 million.

Woodbridge International, a global mergers and acquisitions firm managing the south Louisiana company Becnel Rental Tools LLC, confirmed the deal on Tuesday. Becnel, which has been serving the oil and gas industry since 2012, was purchased for $50 million, with $32.5 million in company stock and $17.5 million in cash.

Local economists weighed in on the acquisition, highlighting the potential benefits for both the company and the community. Professor Tammy Johnston from the University of Louisiana at Monroe emphasized that such buyouts indicate a strong business, benefiting not only the owners but also employees and the local community.

Transcat, Inc.’s President and CEO, Lee Rudow, praised Becnel as a well-run business with great leadership and significant industry experience. He expressed confidence in the company’s ability to capitalize on the growing demand for decommissioning and maintenance services in the oil and gas sector.

Louisiana Tech University’s Associate Professor of Economics, Patrick Scott, discussed the various outcomes of acquisitions, noting potential efficiency opportunities and cost savings. He also highlighted the impact on student entrepreneurship, where students with valuable intellectual property can benefit from such transactions.

As the news of the acquisition unfolds, the entrepreneurial spirit is alive and well in Louisiana. ULM is set to host its third annual Entrepreneurship Pelican Cup Awards Luncheon, offering a cash prize of up to $50,000 for student entrepreneurs. This event underscores the thriving business ecosystem in the region.

In the world of mergers and acquisitions, the acquisition of Becnel by Transcat, Inc. represents a strategic move that could lead to growth and innovation in the oil and gas industry. As the companies integrate their operations, the potential for synergies and market expansion looms large, promising a bright future for both entities.