Electro Rent Buys Microlease

Van Nuys-based Electro Rent, which provides rental and leasing of test and measurement equipment, said Friday that it has completed its acquisition of Microlease from Lloyds Development Capital. Financial details of that acquisition were not announced. Electro Rent is owned by private equity investor Platinum Equity, which bought the company in August of last year. Microlease was founded in 1979, and is headquartered in London, United Kingdom.