Microlease, the test equipment rental and asset management organization is further expanding its global reach with the acquisition of MetricTest, a US-based solution provider for buying, renting and leasing new and refurbished electronic test equipment. 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 M in the following 12 month period.
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 Original Equipment Manufacturers (OEM) including Agilent Technologies, Tektronix, Advantest, Anritsu, Keithley and Rohde & Schwarz. The MetricTest executive board will now be led by Microlease CEO, Nigel Brown, as Chairman. MetricTest President and COO, Vern Stevenson, will become CEO.
“We are delighted to announce the successful acquisition of MetricTest, a well-respected US-based firm with an excellent reputation for service delivery,” said Microlease chief executive, Nigel Brown. “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.”