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M&A Deal Summary

Platinum Equity Acquires Electro Rent

On May 31, 2016, private equity firm Platinum Equity acquired test/measurement equipment company Electro Rent for 323M USD

Acquisition Highlights
  • This is Platinum Equity’s 1st transaction in the Test/Measurement Equipment sector.
  • This is Platinum Equity’s 24th largest (disclosed) transaction.
  • This is Platinum Equity’s 60th transaction in the United States.
  • This is Platinum Equity’s 7th transaction in California.

M&A Deal Summary
Date 2016-05-31
Target Electro Rent
Sector Test/Measurement Equipment
Buyer(s) Platinum Equity
Deal Type Going Private
Deal Value 323M USD
Advisor(s) Houlihan Lokey (Financial)
Sheppard Mullin Richter & Hampton (Legal)

Target

Electro Rent

West Hills, California, United States
Electro Rent is a provider of electronic test and measurement (T&M) equipment solutions. The Company offers rental, leasing, sales of new and used equipment, and asset management services. Electro Rent was founded in 1965 and is based in West Hills, California.

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Buyer(S) 1

Buyer

Platinum Equity

Beverly Hills, California, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1995
PE ASSETS 50.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION
Platinum Equity's headquarters in Beverly Hills, California.
Platinum Equity's headquarters in Beverly Hills, California.

Platinum Equity is a private equity firm focused on acquiring divestitures of larger public companies primarily in North America and Europe. Historically, Platinum targeted technology/software related businesses, however, the firm has since branched out beyond tech and will consider acquisitions in a broad range of industries including chemicals, communications, logistics, healthcare, automotive, industrial products, and business services. Platinum Equity was formed in 1995 by Tom Gores and is based in Beverly Hills, California.

DEAL STATS #
Overall 72 of 156
Sector: Test/Measurement Equipment M&A 1 of 1
Type: Going Private M&A Deals 8 of 12
State: California M&A 7 of 14
Country: United States M&A 60 of 121
Year: 2016 M&A 2 of 9
Size (of disclosed) 24 of 31
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-05-02 Maxim Crane Works

Bridgeville, Pennsylvania, United States

Maxim Crane Works is a coast-to-coast provider of comprehensive lifting services in the United States. Maxim Crane Works was founded in 1994 and is based in Bridgeville, Pennsylvania.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-06-08 MetoKote

Lima, Ohio, United States

MetoKote provides environmentally sound and cost-effective coating solutions including equipment, coating application, and related management and support services to a wide variety of industries such as agriculture, appliance, automotive, computer, construction equipment, electrical, furniture, industrial equipment, recreational, and truck and bus.

Sell -
Mergr

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