The private equity arm of Lloyds has invested an extra £8.3 million into testing equipment rental company Microlease, whose MBO it backed in 2006.

LDC, the private equity arm of Lloyds, has invested an extra £8.3 million into testing equipment rental company Microlease, whose management buy-out it backed in 2006.

Yann Souillard, a director at LDC, says Microlease has performed ‘extremely well’ since the £30 million buy-out, which was led by CEO Nigel Brown.

The aim is now ‘strong organic growth combined with possible acquisitions over the next 24 months’, in line with LDC’s strategy of providing extra cash to portfolio companies for opportunistic expansion at a time when competitors may be cash-constrained.

Founded in 1973, UK-based Microlease provides services including leasing, buying second-hand equipment and calibration.