Microlease, an international provider of rental and asset management services to the test equipment market, has received funding from existing investor LDC to acquire US-based MetricTest.
The deal, which was also funded by Microlease’s cash reserves, with additional debt facilities provided by Comercia Bank in the US, is expected to take the group’s US revenues to $90m next year, and makes Microlease the third largest test equipment rental business in the strategically important Americas markets.
Led by CEO Nigel Brown, Microlease offers a wide range of services to the test and measurement market, including the rental, leasing and sale of test equipment alongside calibration and asset management services. Based in the UK, the business operates across Europe, Africa, the Middle East and the Americas, servicing customers across a range of sectors including telecoms, defence and aerospace.
The company currently has 223 employees and projected revenues of £75m for the current financial year.
FinSMEs
24/10/2011