Support through the cycle – Nigel Brown, CEO, Microlease
1 Nov 2020
It’s not uncommon for business leaders to find themselves in a needs-must situation where they have to adapt at record speed.
Nigel Brown is the Chief Executive of Microlease, now Electro Rent, which hires out electronic testing equipment globally. He recalls the moment he found out that a fire had broken out in its main warehouse: “Roughly £20m-worth of equipment was damaged,” he says. “That was one of the most challenging periods in my life. It took 18 months before the insurance company would pay out. We came out a bigger, stronger company as a consequence because we had to think of solutions fast.”
Nigel credits much of the company’s agility to its funding model. “We used private equity to fund a management buyout and they stayed with us for 10 years,” he says. “Their courage and determination through the cycle definitely helped our resilience.”
We had our ups and downs over the years, surviving recession, a pandemic and a fire that wiped our £20m worth of stock, but we always emerged stronger.”
Nigel Brown, CEO
Electro Rent (formerly Microlease)
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