Microlease, a specialist in test equipment, has received an additional £8.3 million from LDC, the private equity arm of the Lloyds Banking Group.
Microlease, a specialist in test equipment, has received an additional £8.3 million from LDC, the private equity arm of the Lloyds Banking Group.
Microlease offers a broad range of services including rental, leasing and sale of test equipment. The Middlesex-based company operates across Europe, Africa and the Middle East as well as in the Americas.
In 2006, LDC backed a £30 million management buy-out led by former CEO Nigel Brown. The difficult trading environment has led to an increase in demand for rental and leasing services from companies that are looking to reduce capital expenditure on equipment. The additional funding will be used for further organic growth.
Microlease director Nigel Brown said: ‘LDC’s strategic input and close partnership with the management team has been critical to the formulation of an exciting growth plan which will see Microlease increase its ability to support its key customers and suppliers over the coming years.’
