Platinum Equity has completed the acquisition of publicly-traded Electro Rent Corporation (ERC) for approximately $382 million.
ERC rents, leases and sells general purpose electronic test equipment, personal computers and servers. The company is headquartered in Van Nuys, CA (www.electrorent.com).
“We are excited to get to work and support Electro Rent’s long-term growth strategy,” said Louis Samson, a Partner at Platinum Equity. “We believe the company, its customers and OEM partners will benefit from our financial resources, operational expertise and commitment to delivering exceptional service.”
Platinum Equity invests in a range of industries including manufacturing, distribution, transportation and logistics, equipment rental, metals services, media and entertainment, technology, and telecommunications. The firm has completed nearly 175 acquisitions since its founding in 1995. Platinum is based in Beverly Hills with additional offices in New York and London (www.platinumequity.com).
Houlihan Lokey (www.hl.com) served as the financial advisor to the board of directors of Electro Rent.
© 2016 Private Equity Professional • 8-17-16