Hot 100 2013 – 30: Test Equipment Asset Management

The basics

Company name: Test Equipment Asset Management
What they do: Rental and sale of precision electronic testing equipment
Headquarters: Harrow
The Boss: Nigel Brown

The financials

Latest turnover (£,000): 60,424
Four-year compound sales growth (%): 39
Latest Ebitda (£,000): 18,333

The details

Test Equipment Asset Management, which trades under the name Microlease, has been renting out and selling precision electronic testing equipment since 1979. The company has over 23,000 assets, worth more than $430m, on its books, which it ships to 85 countries.

The company offers more than 4,000 product lines, from digital voltmeters to spectrum analysers, radiation meters to cell phone testers. Backed by Lloyds Development capital, the company turns over £60.4m a year, with healthy pre-tax profits of £18.3m. Four-year compound sales growth is 39 per cent.

“In the past five years, Microlease has delivered compound annual growth of over 30 per cent,” says Microlease CEO Nigel Brown. “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 us to help customers manage their costs more effectively and deliver value to them.”

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