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Electro Rent completes Microlease acquisition

Platinum Equity LLC portfolio company Electro Rent Corp. on Feb. 3 completed its acquisition of Microlease from Lloyds Development Capital.

Microlease will keep its Van Nuys, Calif., headquarters for operations in North America, while the London office will manage operations in Europe, the Middle East and Africa.

Financial terms of the deal were not disclosed.