Electro Rent Corporation is a provider of rental, leasing, and sales of electronic test and measurement (T&M) equipment, and in the United States rents personal computers and servers.
| Company type | Private |
|---|---|
| Industry | Leasing Service |
| Founded | 1965 |
| Headquarters | Canoga Park, California, |
Area served | Worldwide |
| Revenue | $243.08 million (As of 2013[update])[1] |
| Owner | Platinum Equity |
| Website | www |
On May 31, 2016, Platinum Equity announced its intent to acquire Electro Rent for $382.2 million.
History
editElectro Rent was founded in 1965.[2]
In 2010, Electro Rent LLC paid approximately $26.7 million in cash to acquire privately-held Telogy, a competitor that filed for bankruptcy protection earlier that year and was at that time based in Union City, California.[3]
Locations
editThe company is headquartered in Canoga Park, California and has facilities in the United States, Canada, India, South East Asia, the People’s Republic of China, and Europe.[2]
Industries served
editElectro Rent purchases equipment from its suppliers and rents, leases, or sells the equipment to customers in aerospace, defense, telecommunications, electronics and semiconductor industries.[4]
Besides T&M equipment rental business, Electro Rent also provides data product rental service. Its data products (“DP”) division provides personal computers and server rental services in the United States from manufacturers including Dell, HP/Compaq, IBM, Toshiba and Apple, Inc.
Electro Rent is one of the largest personal computer and server rental providers in the United States, and its data products division’s revenue made up about 7% of the company’s total revenue in consecutive fiscal year of 2011-2013.[5]
Suppliers
editThe company’s supplier base is composed by electronic equipment manufacturers such as Keysight and Tektronix. In 2010, it became a reseller for Agilent, the largest T&M equipment manufacturer in North America.[5]
Awards
editIn 2011, the company was selected as one of the eight recipients to receive the Preferred Supplier Award from L-3 Communications as an excellent partner[6] In 2012, Frost & Sullivan awarded the company the Frost & Sullivan Award for Company of the Year for its revenue growth over the previous two years.[7]
References
edit- ^ "ELRC Key Statistics | Electro Rent Corporation Stock - Yahoo! Finance". Finance.yahoo.com. Retrieved 2014-03-26.
- ^ a b "ELRC: Summary for Electro Rent Corp Common Stock- Yahoo! Finance". Finance.yahoo.com. Retrieved 2014-03-26.
- ^ "Electro Rent to Acquire Leading Electronic Test Equipment Provider, Telogy". Businesswire.com. Retrieved 2016-05-25.
- ^ "Electro Rent Corporation: NASDAQ:ELRC quotes & news - Google". Retrieved 2014-03-27.
- ^ a b "Electro Rent Corporation: NASDAQ Quote". Nasdaq.com. Retrieved 2014-03-27.
- ^ "Electro Rent Receives Preferred Supplier Award from L-3 Communications". Businesswire.com. 2011-10-13. Retrieved 2014-03-26.
- ^ "Frost & Sullivan Recognizes Electro Rent Corporation's Rise". Frost.com. 2012-03-01. Retrieved 2014-03-26.