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Microlease Strengthens its European Lead in the Aerospace Market

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Purchase of US-based Telogy’s European operations will extend and consolidate customer choice and service

Microlease today announced its acquisition of the European operations of its major US competitor, Telogy Inc. The deal, which is in line with a three-year strategy of organic growth and acquisition, will firmly consolidate the UK-based company’s position as the number one test and measurement rental business in Europe.  It is expected to boost the company’s turnover by around £5 million, lifting it to in excess of £30 million per annum.

Microlease believes Telogy’s success in the defence and aerospace industry will complement its own strengths in the telecoms sector. The acquisition will significantly increase both its assets and expertise in this adjoining market area and provide European customers of both companies with more choice, specialist knowledge and enhanced services.

“Businesses in our target sectors have found that they can reduce capital expenditure by increasing rental/leasing requirements. They are also protecting and optimising existing investments by careful asset management.  We expect these trends to continue as customers make plans for the recovery – and for further opportunities in these areas to arise as growth returns,” says Microlease CEO, Nigel Brown.

“This acquisition creates an exciting and timely opportunity for Microlease to further expand its offering to customers – to diversify and accelerate growth in accordance with our strategic plans.”

Microlease has enjoyed strong growth since an MBO three years ago. The acquisition, believed to be the first stage in the company’s ambitious plans, follows the recent £19.5 million debt financing facility from Lombard Business Finance and its parent company, Royal Bank of Scotland.

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Notes to Editors:

Founded in 1979, Microlease is the number one test and measurement rental company in Europe and is the preferred rental partner of world leading manufacturer Agilent. Its customers include Alcatel Lucent, Ciena, EADS Astrium, Nortel, Sagem and Siemens. Microlease’s range of services include rental, leasing, buying pre-owned equipment and selling a wide range of test and measurement equipment as well as a full range of 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

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Nigel Brown      
Microlease      
Tel: +44 (0)2084 200200     
Email: nigel.brown@microlease.com   

Michelle Anker
The Whiteoaks Consultancy
Tel: +44 (0)1252 727313
Email: michellea@whiteoaks.co.uk