Jay Geldmacher joins Electro Rent as Global CEO and President

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West Hills, CA, Sept. 11, 2019 (GLOBE NEWSWIRE) -- West Hills, CA, September 11, 2019 (GLOBE NEWSWIRE) -- Electro Rent, a global leader in test equipment services, today announced the appointment of Jay Geldmacher as the company’s new Global CEO and President. Jay is a seasoned technology executive with over thirty years of experience in building and growing businesses within the electronics manufacturing industry.  Most recently, he was the President and CEO of Artesyn Embedded Technologies (formerly Emerson’s Embedded Computing & Power Business) where he championed the expansion of engineering resources and investments in technology into new markets such as hyper-scale, 5G and Industry 4.0. Mr. Geldmacher will succeed current Global CEO Nigel Brown, who is retiring from day-to-day service but will remain active as a shareholder, Chairman and key 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 leading the successful integration of the Microlease and Electro Rent businesses. “Jay is uniquely qualified to lead the business through its next phase of growth and evolution, building on the company’s position as the global test equipment services provider of choice,” said Mr. Brown. “His global technology background and experience developing deep customer relationships is a perfect fit for Electro Rent.” Electro Rent is a portfolio company of Platinum Equity.“Nigel has been an exceptional leader and we are pleased to continue our partnership with him in his new role,” said Platinum Equity Partner Louis Samson. “Jay’s leadership style and tireless dedication to customers aligns well with Electro Rent and our long-term aspirations for the business. The company will benefit from his experience penetrating new markets and geographies as well as his sense of urgency and focus on execution.”  Mr. Geldmacher will be based in Electro Rent’s headquarters located in West Hills, California and will assume the Global CEO and President role this month.

Brian Stowell
Electro Rent
brian.stowell@electrorent.com

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Globe Newswire: 17:42 GMT Wednesday 11th September 2019

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