UK's Microlease Acquires US-Based MetricTest
Addition of California-Based Test Equipment Specialist Will Further Expand Microlease's Global Reach.
- San Francisco, CA (1888PressRelease) October 20, 2011 - Microlease, Europe's leading test equipment rental and asset management organization announced today it has acquired MetricTest, a US-based solution provider for buying, renting and leasing new and refurbished electronic test equipment. The MetricTest board will now be led by Microlease CEO, Nigel Brown, as Chairman. MetricTest President and COO, Vern Stevenson, will become CEO of the combined companies.
As a result of the acquisition, Microlease anticipates its income in the US will exceed $50 million in its current financial year and more than $90 million in the following 12-month period.
Recognized by test and measurement engineers as a North American leader in customer service, MetricTest is a complete solutions provider for rentals and new and refurbished equipment sales. Under Microlease's ownership, MetricTest customers will benefit from more inventory, additional client services and global account support.
Established 20 years ago by Marshall Hart, MetricTest has achieved strong business growth and, like Microlease, has forged strong relationships with most of the major OEM's including Agilent Technologies, Tektronix, Advantest, Anritsu, Keithley and Rohde & Schwarz.
"The two companies are an excellent match and have many shared positive attributes, including a high standard of engineering competence amongst the sales force. We believe this latest acquisition will form an important part of our continued commitment to meet growing demand for cost-effective test equipment and services globally," says Microlease chief executive, Nigel Brown.
About Microlease
Founded in 1979, Microlease is the number one test and measurement rental company in Europe and ships equipment to over 85 different countries worldwide. In North America, Microlease is well established with operations in Cary, NC and Dallas, TX, handling the US, Canada and Latin America. Customers include Alcatel Lucent, Thales, EADS Astrium and Huawei among many others. Microlease provides a range of solutions to help customers obtain and use equipment, including rental, leasing, sale and buy-back of a wide range of test and measurement equipment as well as support services from calibration to full asset management. Its offerings allow customers to explore leasing and renting as a cost effective way of obtaining test and measurement equipment without stretching capital expenditure. For more information please visit www.microlease.com.
About MetricTest
MetricTest was founded in 1992 and is located in Hayward, California, near Silicon Valley. MetricTest offers more than 6,000 new, refurbished, and rental test equipment products encompassing a variety of applications. It has thousands of customers throughout the United States and more than 50 countries around the world. Products available through MetricTest include oscilloscopes, analyzers, generators, meters, counters, power supplies, equipment racks and wireless and optical test equipment. MetricTest resells and rents well known brands such as Agilent, Tektronix, Advantest Anritsu, Kethley, Fluke, Fluke Networks, Rohde & Schwarz, Chroma, Digital Lightwave and Instek. MetricTest is recognized for its commitment to providing the highest level of services for its customers. As an ISO registered company, MetricTest has met the quality standards of excellence set by the industry-respected International Standards Organization. More information is available at www.metrictest.com
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