Transcat Inc., a distributor and service provider of test, measurement, control, and calibration products and services, said CEO Lee Rudow will retire in March. Rudow will remain in his role until a successor is named and then transition to an advisory position to support the leadership transition. The company’s board has formed a search committee to identify internal and external candidates for the CEO role.
The announcement coincides with Transcat’s report of fiscal first-quarter 2026 results, showing double-digit growth in both its service and distribution segments. Service revenue rose 12% to $49.1 million, while distribution revenue increased 19% to $27.3 million, driven primarily by demand for instrument rentals. Total revenue climbed 15% to $76.4 million, with gross profit up 14% to $25.8 million.
Rudow, who has led Transcat for more than a decade, highlighted the role of acquisitions in the company’s growth. In the past eight months, Transcat acquired Martin Calibration and Essco Calibration, expanding its footprint in the Midwest and New England markets. Essco adds $22 million in annual revenue and is expected to boost overall margins.
Transcat provides accredited calibration, quality and compliance, reliability, validation, and maintenance optimization services to highly regulated industries, including life sciences, aerospace, defense, energy, and utilities. It operates service centers, mobile units, and embedded labs across North America and Ireland. The company also distributes new and used instruments from national and proprietary brands.
Chairman Gary Haseley said the board is committed to a thorough CEO search while maintaining continuity of operations. Chief financial officer Tom Barbato added that Transcat’s expanded portfolio, and acquisitions position the company for continued service revenue growth in the second half of fiscal 2026.
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