Electro Rent Moves Into Europe With Acquisition In Belgium

Van Nuys, CA -- Electro Rent announced that its wholly owned subsidiary, ER Europe, based in Belgium, has acquired Everest ES, a Belgium test and measurement (T&M) equipment rental company that has been operating in an alliance with Electro Rent for several years. As part of the acquisition, David Saeys, the owner of Everest, will become the general manager of ER Europe. Terms of the transaction were not disclosed.

"Electro Rent's establishment of a local presence in the large European T&M and computer equipment rental market to provide quality service at competitive prices creates exciting new opportunities for growth. We look forward to building a significant market presence by providing European technology companies with access to one world's largest inventories of the newest, most advanced equipment," said Gary Phillips, Electro Rent's senior VP. "Our expansion into Europe and our recent entry into China represent significant progress towards our goal of transforming Electro Rent into a global provider of rental and leasing services."

ER Europe will commence operations in October 2005, and will have access to the resources of Electro Rent Corporation, a North American T&M and computer rental companies.

SOURCE: Electro Rent