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August 5, 2009updated 12 Apr 2017 4:34pm

Lloyds Banking Group backs Microlease with ?10 million

International test equipment lessor Microlease has been reinforced by a 9.8 million investment from LDC, the private equity arm of the Lloyds Banking Group The UK-based company, which also provides short term rental and asset management services across Europe, the Middle East, Africa and the Americas

By Fred Crawley

International test equipment lessor Microlease has been
reinforced by a €9.8 million investment from LDC, the private
equity arm of the Lloyds Banking Group.
 
The UK-based company, which also provides short term rental and
asset management services across Europe, the Middle East, Africa
and the Americas. Microlease has grown rapidly since an MBO led by
director Nigel Brown in 2006.
 
LDC backed the €34.5 million buyout and has shown a keen interest
in helping to expand the firm at a time when many competitors have
reined in growth plans due to liquidity constraints.
 
Over the next 24 months, Microlease expects to see considerable
organic growth, says Brown, and is prepared to make acquisitions
should opportunities arise.

Last year, Microlease wrote €4.7 million in operating lease
business, a figure it hopes to grow by 20 percent this year. It
also generated €23.6 million in revenue through short term rental,
which it expects to grow “by double digits” this year, according to
Brown.

Fred Crawley

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