SEC Form SC 13G filed by Transcat Inc.

2/13/24 1:47:12 PM ET

Electrical Products

Industrials

Get the next $TRNS alert in real time by email

SC 13G 1 broadcresttrns13g12312023.txt -------------------------- OMB APPROVAL OMB Number: 3235-0145 Expires: February 28, 2009 Estimated average burden hours per response...10.4 -------------------------- UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 SCHEDULE 13G UNDER THE SECURITIES EXCHANGE ACT OF 1934 (Amendment No.__)* TransCat, Inc. ------------------------------------------------------------------------------- (Name of Issuer) COMMON STOCK, $0.50 par value ------------------------------------------------------------------------------- (Title of Class of Securities) 893529107 ------------------------------------------------------------ (CUSIP Number) December 31, 2023 ------------------------------------------------------------ (Date of Event which Requires Filing of this Statement) CHECK THE APPROPRIATE BOX TO DESIGNATE THE RULE PURSUANT TO WHICH THIS SCHEDULE IS FILED: [ ] RULE 13D-1(B) [X] RULE 13D-1(C) [ ] RULE 13D-1(D) *THE REMAINDER OF THIS COVER PAGE SHALL BE FILLED OUT FOR A REPORTING PERSON'S INITIAL FILING ON THIS FORM WITH RESPECT TO THE SUBJECT CLASS OF SECURITIES, AND FOR ANY SUBSEQUENT AMENDMENT CONTAINING INFORMATION WHICH WOULD ALTER DISCLOSURES PROVIDED IN A PRIOR COVER PAGE. THE INFORMATION REQUIRED ON THE REMAINDER OF THIS COVER PAGE SHALL NOT BE DEEMED TO BE "FILED" FOR THE PURPOSE OF SECTION 18 OF THE SECURITIES EXCHANGE ACT OF 1934 (THE "ACT") OR OTHERWISE SUBJECT TO THE LIABILITIES OF THAT SECTION OF THE ACT BUT SHALL BE SUBJECT TO ALL OTHER PROVISIONS OF THE ACT (HOWEVER, SEE THE NOTES). Page 1 of 7 Pages CUSIP NO. 893529107 --------- - -------------------------------------------------------------------------- 1 NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) 47-4374726 Broadcrest, L.P. - -------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) (a) [X] (b) [ ] - -------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------- 4 CITIZENSHIP OR PLACE OF ORGANIZATION Florida - -------------------------------------------------------------------------- 5 SOLE VOTING POWER NUMBER OF NONE SHARES BENEFICIALLY ------------------------------------------------- OWNED BY 6 SHARED VOTING POWER EACH REPORTING 400,000 PERSON ------------------------------------------------- WITH 7 SOLE DISPOSITIVE POWER NONE ------------------------------------------------- 8 SHARED DISPOSITIVE POWER 400,000 - -------------------------------------------------------------------------- 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 400,000 - -------------------------------------------------------------------------- 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES [ ] (SEE INSTRUCTIONS) - -------------------------------------------------------------------------- 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 4.53% - -------------------------------------------------------------------------- 12 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) PN - -------------------------------------------------------------------------- Page 2 of 7 Pages CUSIP NO. 893529107 --------- - -------------------------------------------------------------------------- 1 NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) 47-4352497 Broadcrest Asset Management, LLC - -------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) (a) [X] (b) [ ] - -------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------- 4 CITIZENSHIP OR PLACE OF ORGANIZATION Florida - -------------------------------------------------------------------------- 5 SOLE VOTING POWER NUMBER OF NONE SHARES BENEFICIALLY ------------------------------------------------- OWNED BY 6 SHARED VOTING POWER EACH REPORTING 400,000 PERSON ------------------------------------------------- WITH 7 SOLE DISPOSITIVE POWER NONE ------------------------------------------------- 8 SHARED DISPOSITIVE POWER 400,000 - -------------------------------------------------------------------------- 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 400,000 - -------------------------------------------------------------------------- 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES [ ] (SEE INSTRUCTIONS) - -------------------------------------------------------------------------- 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 4.53% - -------------------------------------------------------------------------- 12 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) CO - -------------------------------------------------------------------------- Page 3 of 7 Pages CUSIP NO. 893529107 --------- --------------------------------------------------------------------------- ITEM 1(A) NAME OF ISSUER: TransCat, Inc. ITEM 1(B) ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES: 35 Vantage Point Drive Rochester, NY 14624 ITEM 2(a) NAME OF PERSON FILING: (i) Broadcrest, LP (BLP) with respect to shares of Common Stock directly owned by it. (ii) Broadcrest Asset Management, LLC (BAM) with respect to shares of Common Stock directly owned by it. The foregoing persons are hereinafter sometimes collectively referred to as the Reporting Persons. Any disclosures herein with respect to persons other than the Reporting Persons are made on information and believe after making inquiry to the appropriate party. ITEM 2(b) ADDRESS OF PRINCIPAL BUSINESS OFFICE, OR IF NONE, RESIDENCE: The address of the business office of each of the Reporting Persons is 558 West New England Avenue, Suite 250, Winter Park, FL, 32789 ITEM 2(c) CITIZENSHIP: BLP is a limited partnership organized under the laws of the State of Florida. BAM is also a Florida limited liability company. ITEM 2(d) TITLE OF CLASS OF SECURITIES: Common Stock Page 4 of 7 Pages ITEM 2(e) CUSIP NUMBER: 893529107 ITEM 3. IF THIS STATEMENT IS FILED PURSUANT TO SS.240.13D-1(B) OR SS. 240.13d-2(B) or (C), CHECK WHETHER THE PERSON FILING IS A: (a) [ ] Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o). (b) [ ] Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c). (c) [ ] Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c). (d) [ ] Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8). (e) [X] An investment adviser in accordance with ss.240.13d-1(b)(1)(ii)(E); (f) [ ] An employee benefit plan or endowment fund in accordance with ss.240.13d-1(b)(1)(ii)(F); (g) [ ] A parent holding company or control person in accordance with ss.240.13d-1(b)(1)(ii)(G); (h) [ ] A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813); (i) [ ] A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3); (j) [ ] Group, in accordance with ss.240.13d-1(b)(1)(ii)(J). Page 5 of 7 Pages ITEM 4. OWNERSHIP: This Statement is being filed with respect to an aggregate of 400,000 shares of Common Stock, resulting in beneficial ownership as follows: 1. Broadcrest, L.P., (a) Amount Beneficially owned: 400,000 (b) Percent of Class: 4.53% The percentages used herein and in the rest of Item 4 are calculated based on 8,829,127 shares of Common Stock outstanding as of January 26, 2024, as disclosed in the Issuer's most recent Quarterly Report on Form 10-Q for the quarter ended December 23, 2023, as filed with the SEC on January 31, 2024. (c) (i) Sole power to vote or direct the vote: -0- (ii) Shared power to vote or direct the vote: 400,000 (iii) Sole power to dispose or direct the disposition: -0- (iv) Shared power to dispose or direct the disposition:400,000 2. Broadcrest Asset Management, LLC (a) Amount Beneficially owned: 400,000 (b) Percent of Class: 4.53% (c) (i) Sole power to vote or direct the vote: -0- (ii) Shared power to vote or direct the vote: 400,000 (iii) Sole power to dispose or direct the disposition: -0- (iv) Shared power to dispose or direct the disposition: 400,000 Page 6 of 7 Pages ITEM 5. OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS. As the discretionary investment manager of the BLP, BAM has power to direct the voting and disposition of shares held by BLP. If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following [x]. ITEM 6. OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON. N/A ITEM 7. IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH ACQUIRED THE SECURITY BEING REPORTED ON BY THE PARENT HOLDING COMPANY OR CONTROL PERSON. N/A ITEM 8. IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP. See Item 2. ITEM 9. NOTICE OF DISSOLUTION OF GROUP. N/A Page 7 of 7 Pages ITEM 10. CERTIFICATION. By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect. SIGNATURE After reasonable inquiry and to the best of my knowledge and belief, I hereby certify that the information set forth in this statement is true, complete and correct. February 13, 2024 /s/ John Burden ---------------------------------- Chief Executive Officer & Co-Manager Broadcrest Asset Management, LLC 407-256-6407

Get the next $TRNS alert in real time by email

Date	Price Target	Rating	Analyst
1/29/2025		Outperform → Perform	Oppenheimer
5/22/2024		Outperform → Market Perform	Northland Capital
10/17/2023	$110.00	Outperform	Oppenheimer
9/15/2022	$100.00	Outperform	Northland Capital
12/20/2021	$95.00 → $105.00	Buy	HC Wainwright & Co.
11/4/2021	$73.00 → $95.00	Buy	HC Wainwright & Co.
7/29/2021	$66.00 → $73.00	Buy	HC Wainwright & Co.

SEC Form SC 13G filed by Transcat Inc.

Chat with this insight

Recent Analyst Ratings for
$TRNS

$TRNS
Press Releases

Fastest customizable press release news feed in the world

Transcat Announces Fourth Quarter Fiscal Year 2025 Conference Call and Webcast

Transcat Engages MZ Group to Lead Strategic Investor Relations and Shareholder Communications Program

Transcat Reports Third Quarter Results with Revenue Growth

$TRNS
Insider Purchases

Insider purchases reveal critical bullish sentiment about the company from key stakeholders. See them live in this feed.

Director Cairns Craig D. bought $92,427 worth of shares (1,200 units at $77.02) (SEC Form 4)

Cairns Craig D. bought $100,233 worth of shares (1,140 units at $87.92) (SEC Form 4)

$TRNS
Financials

Live finance-specific insights

Transcat Announces Fourth Quarter Fiscal Year 2025 Conference Call and Webcast

Transcat Engages MZ Group to Lead Strategic Investor Relations and Shareholder Communications Program

Transcat Reports Third Quarter Results with Revenue Growth

$TRNS
Leadership Updates

Live Leadership Updates

Transcat Inc. Announces Executive Leadership Changes

$TRNS
Large Ownership Changes

This live feed shows all institutional transactions in real time.

Amendment: SEC Form SC 13G/A filed by Transcat Inc.

Amendment: SEC Form SC 13G/A filed by Transcat Inc.

Amendment: SEC Form SC 13G/A filed by Transcat Inc.

$TRNS
Analyst Ratings

Analyst ratings in real time. Analyst ratings have a very high impact on the underlying stock. See them live in this feed.

Transcat downgraded by Oppenheimer

Transcat downgraded by Northland Capital

Oppenheimer initiated coverage on Transcat with a new price target

$TRNS
SEC Filings

Transcat Inc. filed SEC Form 8-K: Leadership Update

SEC Form SCHEDULE 13G filed by Transcat Inc.

Transcat Inc. filed SEC Form 8-K: Changes in Registrant's Certifying Accountant, Financial Statements and Exhibits

$TRNS
Insider Trading

Insider transactions reveal critical sentiment about the company from key stakeholders. See them live in this feed.

Chief Operating Officer West Michael W. converted options into 871 shares and covered exercise/tax liability with 449 shares, increasing direct ownership by 2% to 25,479 units (SEC Form 4)

Principal Accounting Officer Deverell Scott converted options into 274 shares and covered exercise/tax liability with 108 shares, increasing direct ownership by 7% to 2,452 units (SEC Form 4)

Sr. VP Finance & CFO Barbato Thomas L converted options into 1,417 shares and covered exercise/tax liability with 658 shares, increasing direct ownership by 81% to 1,699 units (SEC Form 4)

SEC Form SC 13G filed by Transcat Inc.

Chat with this insight

Recent Analyst Ratings for $TRNS

$TRNS Press Releases

Fastest customizable press release news feed in the world

Transcat Announces Fourth Quarter Fiscal Year 2025 Conference Call and Webcast

Transcat Engages MZ Group to Lead Strategic Investor Relations and Shareholder Communications Program

Transcat Reports Third Quarter Results with Revenue Growth

$TRNS Insider Purchases

Insider purchases reveal critical bullish sentiment about the company from key stakeholders. See them live in this feed.

Director Cairns Craig D. bought $92,427 worth of shares (1,200 units at $77.02) (SEC Form 4)

Cairns Craig D. bought $100,233 worth of shares (1,140 units at $87.92) (SEC Form 4)

$TRNS Financials

Live finance-specific insights

Transcat Announces Fourth Quarter Fiscal Year 2025 Conference Call and Webcast

Transcat Engages MZ Group to Lead Strategic Investor Relations and Shareholder Communications Program

Transcat Reports Third Quarter Results with Revenue Growth

$TRNS Leadership Updates

Live Leadership Updates

Transcat Inc. Announces Executive Leadership Changes

$TRNS Large Ownership Changes

This live feed shows all institutional transactions in real time.

Amendment: SEC Form SC 13G/A filed by Transcat Inc.

Amendment: SEC Form SC 13G/A filed by Transcat Inc.

Amendment: SEC Form SC 13G/A filed by Transcat Inc.

$TRNS Analyst Ratings

Analyst ratings in real time. Analyst ratings have a very high impact on the underlying stock. See them live in this feed.

Transcat downgraded by Oppenheimer

Transcat downgraded by Northland Capital

Oppenheimer initiated coverage on Transcat with a new price target

$TRNS SEC Filings

Transcat Inc. filed SEC Form 8-K: Leadership Update

SEC Form SCHEDULE 13G filed by Transcat Inc.

Transcat Inc. filed SEC Form 8-K: Changes in Registrant's Certifying Accountant, Financial Statements and Exhibits

$TRNS Insider Trading

Insider transactions reveal critical sentiment about the company from key stakeholders. See them live in this feed.

Chief Operating Officer West Michael W. converted options into 871 shares and covered exercise/tax liability with 449 shares, increasing direct ownership by 2% to 25,479 units (SEC Form 4)

Principal Accounting Officer Deverell Scott converted options into 274 shares and covered exercise/tax liability with 108 shares, increasing direct ownership by 7% to 2,452 units (SEC Form 4)

Sr. VP Finance & CFO Barbato Thomas L converted options into 1,417 shares and covered exercise/tax liability with 658 shares, increasing direct ownership by 81% to 1,699 units (SEC Form 4)

Recent Analyst Ratings for
$TRNS

$TRNS
Press Releases

$TRNS
Insider Purchases

$TRNS
Financials

$TRNS
Leadership Updates

$TRNS
Large Ownership Changes

$TRNS
Analyst Ratings

$TRNS
SEC Filings

$TRNS
Insider Trading