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Transaction Announcement

Houlihan Lokey Advises Electro Rent Corporation

Houlihan Lokey is pleased to announce the sale of Electro Rent Corporation (NASDAQ: ELRC) to Platinum Equity. The transaction was announced on May 31, 2016 and closed on August 10, 2016.

Electro Rent, headquartered in Van Nuys, Calif., is one of the largest global organizations devoted to the rental, lease, and sale of general purpose electronic test equipment. The company rents, leases, and sells new and used equipment to a diverse customer base primarily across the aerospace and defense, semiconductor, and telecom industries.

Founded in 1995, Platinum Equity is a global investment firm with more than $6 billion worth of assets under management, with a portfolio of more than 25 operating companies in industries including manufacturing, distribution, transportation and logistics, and equipment rental.

Houlihan Lokey served as the financial advisor in the sale of Electro Rent and provided the fairness opinions to Electro Rent's Board of Directors regarding the transaction. The acquisition of Electro Rent by Platinum Equity was originally announced on May 31 at $13.12 per share. However, due to the sustained competitive nature of the sale process, Platinum Equity ultimately closed at $15.50 per share. This transaction is representative of our extensive experience in the rental services and test & measurement sectors.

If you would like more information about Houlihan Lokey, or if you have any questions regarding our role in the transaction, please contact one of the transaction team members listed.

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Deal Team Contacts

Scott Dunfrund
Managing Director
Business Services Group - Rental Services
SDunfrund@HL.com
310.788.5292
Ranon Kent
Managing Director
Industrials Group - Test & Measurement
RKent@HL.com
310.712.6523

Houlihan Lokey (NYSE: HLI) is a global investment bank with expertise in mergers and acquisitions, capital markets,valuation, financial restructuring, and strategic consulting. The firm serves corporations, institutions, and governments worldwide with offices in the United States, Europe, and the Asia‑Pacific region. Independent advice and intellectual rigor are hallmarks of our commitment to client success across our advisory services. Houlihan Lokey is ranked as the No. 1 M&A advisor for all U.S. transactions, the No. 1 global M&A fairness opinion advisor over the past 15 years, and the No. 1 global restructuring advisor, according to Thomson Reuters.
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Houlihan Lokey is a trade name for Houlihan Lokey, Inc. and its subsidiaries and affiliates, which include: United States: Houlihan Lokey Capital, Inc., a SEC-registered broker-dealer and member of FINRA (www.finra.org) and SIPC (www.sipc.org) (investment banking services); Houlihan Lokey Financial Advisors, Inc. (financial advisory services); Houlihan Lokey Consulting, Inc. (strategic consulting services); Houlihan Lokey Real Estate Group, Inc. (real estate advisory services); Europe: each of Houlihan Lokey (Europe) Limited and Houlihan Lokey (Financial Advisory) Limited, authorized and regulated by the U.K. Financial Conduct Authority; Houlihan Lokey GmbH; Houlihan Lokey (Netherlands) B.V.; and Houlihan Lokey (España) S.A.; Hong Kong SAR: Houlihan Lokey (China) Limited, licensed in Hong Kong by the Securities and Futures Commission to conduct Type 1, 4 and 6 regulated activities to professional investors only; China: Houlihan Lokey Howard & Zukin Investment Consulting (Beijing) Co., Limited (financial advisory services); Japan: Houlihan Lokey K.K. (financial advisory services); Australia: Houlihan Lokey (Australia) Pty Limited (ABN 74 601 825 227), a company incorporated in Australia and licensed by the Australian Securities and Investments Commission (AFSL number 474953) in respect of financial services provided to wholesale clients. In the European Economic Area and Hong Kong, this communication may be directed to intended recipients including professional investors, high-net-worth companies or other institutional investors. It is not known whether the listed clients approve or disapprove of Houlihan Lokey or the advisory services provided. This e-mail is an advertisement from Houlihan Lokey. To opt-out from Houlihan Lokey Communications click here. Written inquiries can be sent to 10250 Constellation Blvd., 5th Fl., Los Angeles, CA 90067, or you may reach us via our contact page.
 
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