Microlease, the leading test equipment rental and asset management organisation, has been awarded a 2012 Frost & Sullivan Competitive Strategy Leadership Award for Rental, Used and Distributed Test Equipment in North America. The announcement comes just six months after the firm acquired MetricTest, a U.S.-based solution provider for buying, renting and leasing new and refurbished electronic test equipment.
With the acquisition of MetricTest, Microlease has extended its reach in North America across all its business areas. As the number two distributor in the U.S. for Agilent Technologies, the global leader in the electronic test equipment market, MetricTest's broad customer base allows Microlease to accelerate its growth in North America. Microlease expects to work with this client base and provide a broader range of services, including asset management services, while growing its rental market share in the U.S.
Microlease has recently secured significant asset management contracts, which include helping customers generate income from under-utilised assets.
Frost & Sullivan highlighted the innovative solutions Microlease provides for customers "that go beyond the provision of rental services, extending to asset management services, which help them manage their inventory more effectively."
"The Competitive Strategy Leadership Award is a prestigious recognition of Microlease's accomplishments in the rental, used and distributed electronic test equipment market," says Jessy Cavazos, industry director, Test & Measurement, Frost & Sullivan.
"In the past five years, Microlease has delivered compound annual growth (CAGR) of over 30 per cent. This is testament to the value the company provides customers," says Nigel Brown, CEO, Microlease. "In tough economic times, helping customers maximise the use of their assets and procure equipment more effectively is extremely valuable. With increased awareness around cost of ownership, there is expected to be more opportunity for Microlease to help customers manage their costs more effectively and deliver value to them."
Brown added: "We are delighted that our experience and international business strategy has been recognised by Frost & Sullivan. Our work in North America and other international markets forms a core component of our continuing commitment to meet growing demand for cost-effective test equipment and services globally."