Platinum Equity To Buy Electro Rent

Platinum Equity agreed to pay $323.4 million cash to acquire Electro Rent, a company that rents, leases and sells servers, PCs and electronic test equipment, they said in a news release Tuesday. The deal, expected to close in 90 to 120 days, requires approval by Electro Rent stockholders and “various regulatory agencies,” they said. Electro Rent will “greatly benefit from additional resources and experience to further enhance our already high inventory, service and support standards,” said CEO Steven Markheim.