Electro Rent Corporation

Electro Rent Corporation, headquartered in Penang, Malaysia, specializes in supplying advanced test and measurement equipment to engineering and research sectors, supporting critical testing processes across various industries. Electro Rent Corporation provides rental and sales services for test equipment. Founded in 1965, the company was acquired by Platinum Equity in 2016 for USD 382. 20 mn, transitioning from public to private ownership.

The co-founders are Dave Gibson and Taylor Lembi, while Mike Clark and Taylor Lembi currently serve as CEOs. Electro Rent offers a comprehensive range of advanced test and measurement equipment tailored for engineering and research sectors, including aerospace, telecommunications, and automotive industries. Their main products encompass certified used test equipment, such as oscilloscopes and signal analyzers, which aid clients in executing essential testing processes. In 2016, Electro Rent reported a revenue of USD 175.

33 mn and an EBITDA of USD 65. 25 mn, mainly through its rental, sales, and asset optimization services for test equipment, catering to B2B transactions. Following the acquisition by Platinum Equity in May 2016, which supported the company's growth strategies, Electro Rent aims to enhance its product offerings and expand into new markets. The latest funding will be utilized to bolster these initiatives, although specific new products or markets have not been disclosed.