West Hills, CA, Sept. 17, 2018 (GLOBE NEWSWIRE) -- Electro Rent, a global leader in test equipment services, today announced the appointment of Tom Reslewic as the company’s new Global CEO.
Mr. Reslewic is a seasoned executive from the Test and Measurement industry and joins from Teledyne, where he was Group President for Defense Electronics and Electronic Measurement Instruments, a $1 billion+ operation. Prior to his tenure at Teledyne, he was CEO at Test and Measurement manufacturer LeCroy Corporation (Nasdaq: LCRY) for over 10 years.
Mr. Reslewic will succeed current Electro Rent CEO Nigel Brown who is retiring from day-to-day service but will remain active as Chairman and a strategic advisor to the company.
Over the last 20 years, Mr. Brown has been instrumental in driving the company’s growth both organically and via M&A, expanding its footprint, creating industry-leading equipment services, and most recently steering the successful combination of the Microlease and Electro Rent businesses.
“I’m delighted to welcome Tom to the team at a very exciting time in the evolution of the business,” said Mr. Brown. “His exemplary commercial and technical background, combined with his high energy and relevant industry experience, will help guide the next stage of development for Electro Rent.”
Platinum Equity Partner Louis Samson added, “We want to thank Nigel for all of his contributions and look forward to continuing our partnership with him in his new role. He has been a positive force in the industry and has positioned Electro Rent well for future growth driven by areas such as 5G, the Internet of Things and asset management. We now look forward to partnering with Tom to capitalize further on this potential."
Mr. Reslewic will be based in Electro Rent’s headquarters located in West Hills, California and will assume the Global CEO role at the beginning of October.
About Electro Rent
Electro Rent is a leading global provider of test and technology solutions that enable its customers to accelerate innovation and optimize investments. Electro Rent’s rental, lease, sales and asset management solutions serve industry-leading innovators in communications, aerospace and defense, automotive, energy, education, and general electronics, and have done so since 1965. More information is available at www.electrorent.com.
About Platinum Equity
Founded in 1995 by Tom Gores, Platinum Equity is a global investment firm with approximately $13 billion of assets under management and a portfolio of approximately 40 operating companies that serve customers around the world. The firm is currently investing from Platinum Equity Capital Partners IV, a $6.5 billion global buyout fund, and Platinum Equity Small Cap Fund, a $1.5 billion buyout fund focused on investment opportunities in the lower middle market. Over the past 23 years, Platinum Equity has completed more than 200 acquisitions.