NOTE 6 – SUBSEQUENT EVENT

On July 29, 2025, the Company entered into the Credit Agreement with a group of three lenders establishing a new five-year $150.0 million Credit Facility. M&T will act as administrative agent for the Credit Facility. The Credit Facility replaces the Replaced Facility, the Company’s existing $80.0 million credit facility with M&T. The Company used initial borrowings under the Credit Facility to repay amounts due under the Replaced Facility, including the remaining amounts under the 2018 Term Loan.  The Credit Facility matures on July 29, 2030, at which time all borrowings thereunder will terminate and become payable. See Part II, Item 2, “Management’s Discussion and Analysis of Financial Condition and Results of Operations — Liquidity and Capital Resources” for further information on the Credit Facility. 

Effective August 5, 2025, the Company acquired Essco Calibration Laboratory, LLC (“Essco”), a privately held calibration services corporation located in the Boston Metro area. This transaction aligned with a key component of the Company’s acquisition strategy of targeting businesses that expand the Company’s geographic reach and the depth and breadth of the Company’s Service capabilities. Pursuant to the purchase agreement, the total purchase price for the membership units of Essco was approximately $84.0 million in cash and is subject to customary post-closing adjustments and indemnification claims, if any.

On July 4, 2025, President Trump signed the One Big Beautiful Bill Act (“OBBBA”) enacting a broad range of tax reform provisions, including extending and modifying certain key domestic and international Tax Cuts & Jobs Act provisions. Only certain provisions will have current financial reporting implications due to varying effective dates and discretionary elections. The Company is currently evaluating the OBBBA and does not anticipate a material impact to the condensed consolidated financial statements.