ELECTRO RENT SELLS INTELLIRENT

Whats Happening:

Electro Rent, a portfolio company of Platinum Equity, has signed a definitive agreement to sell its intellirent division to Sandbrook Capital. intellirent, which provides electrical test and measurement equipment for power generation, data centers, and renewable energy industries, has been under Electro Rent's ownership since 2018. The sale allows Electro Rent to focus on its core business while unlocking the value of intellirent.

Key Moves:

• Electro Rent signs agreement to sell intellirent division to Sandbrook Capital

• Sale allows Electro Rent to focus on core business growth and investment

• intellirent operates independently with a dedicated management team

By The Numbers:

• Platinum Equity has more than $48 billion of assets under management

• Platinum Equity's portfolio includes over 50 operating companies

• Platinum Equity has completed more than 450 acquisitions over 29 years

Key Quotes:

• "The intellirent segment has grown significantly under our ownership and established itself as a leader in the power and electrical testing equipment rental market," said Mike Clark, CEO at Electro Rent.

• "We believe this sale allows us to unlock the value of intellirent while Electro Rent focuses on further growth and investment in its core business," said Platinum Equity Co-President Louis Samson and Managing Director David Glatt.

Bottom Line:

The sale of intellirent demonstrates Electro Rent's strategic focus on its core business while capitalizing on the growth of a non-core division. This move aligns with Platinum Equity's approach to maximizing value in its portfolio companies through targeted divestitures and investments in core operations.

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