Microlease acquires US competitor

The acquisition has been made to complement Microlease's strengths in telecoms with Telogy's experience in the defence and aerospace sectors. The deal is part of a three year 'organic growth and acquisition' strategy and, according to the company's ceo, Nigel Brown, will consolidate Microlease's position as the number one test and measurement rental business in Europe. Brown said: "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." Microlease expects the buyout to boost its turnover by around £5million, lifting it to approximately £30m per annum.