LDC exits Microlease to US competitor Electro Rent

The transaction is expected to close during Q1 2017. Electro Rent is a portfolio company of US private equity firm Platinum Equity, which acquired the business in August 2016.

During LDC's tenure, Microlease acquired Belgium-headquartered Telogy International, the European operations of US-headquartered test equipment rental firm Telogy, in 2009.

The bolt-on of US-based MetricTest, a provider of rental and asset management services to the test equipment market, followed in 2011. The acquisition of MetricTest was funded through cash reserves from Microlease, a capital injection from LDC and debt facilities from US-based Comerica Bank.

In 2014, Microlease acquired UK-based Livingston Group, which provides and manages test equipment.

Previous funding
LDC backed the MBO of Microlease for £30m in 2006. LDC provided additional capital in 2009, investing £8.3m for organic growth and add-on acquisitions.

Company
Founded in 1979 and based in London, Microlease is an equipment services and distribution provider to the test and measurement industry. It provides rental, leasing, and asset management. The business claims to operate across Europe, Asia and the US.

Microlease has a turnover in excess of £100m, according to LDC. 

People
LDC – Yann Souillard (managing director).
Platinum Equity – Louis Samson (partner).
Microlease – Nigel Brown (CEO).

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