Electro Rent Corp. was named the winning bidder to buy the equipment inventory of Telogy LLC, an electronic test equipment business that folded after filing for bankruptcy. The $26.7 million purchase price by Van Nuys-based Electro Rent will be adjusted based on changes in equipment purchases and sales since Sept. 30. All Telogy operations will move from Northern California to the San Fernando Valley The purchase broadens Electro Rent’s equipment base and meets the demand of existing and new customers, said Chairman and CEO Daniel Greenberg. “Telogy is a highly respected name in our industry, whose business is extremely complementary to our own,” Greenberg said. “We are committed to providing Telogy’s customers with the same tradition of service excellence and responsiveness for which Electro Rent is known.” Mark R. Madler
Elecro Rent Adds Equipment from Bankrupt Firm
