Electro Rent completed the acquisition of Microlease from Lloyds Development Capital. Financial terms were not disclosed.

Electro Rent is a portfolio company of Platinum Equity, which acquired the business in August 2016.

Microlease CEO Nigel Brown said the transaction creates a premier platform with a global footprint.

“This is exciting news for our customers, our employees and all of our partners. Both companies are leaders in testing and measurement equipment rental, sales, and asset management services,” Brown said. “We will better serve our markets through an expanded equipment fleet and broader geographical coverage, ensuring better availability levels and a higher level of technical service.”

Brown said he expects a seamless transition. The North American operation will remain headquartered in Van Nuys, CA and EMEA operations will be headquartered in London.

Electro Rent is one of the largest global organizations devoted to the rental, leasing and sales of general purpose electronic test equipment, personal computers and servers.

London-based Microlease is an equipment services and distribution provider to the test and measurement industry across Europe, Asia and the U.S.

Platinum Equity is a global investment firm with a portfolio of approximately 30 operating companies that serve customers around the world.