11:18 AM EDT, 04/15/2024 (MT Newswires) -- Transcat ( TRNS ) said Monday it acquired privately held rental tools and services provider Becnel Rental Tools LLC for $50 million in a cash-and-stock deal.

The purchase price included $32.5 million in company stock and $17.5 million in cash and is subject to certain customary holdback provisions, the company said.

Transcat ( TRNS ) also said Becnel Rental's current staff and leadership team, led by President Jason Becnel, will remain in place.