Founded in 1957, Telerent was acquired in 1989 by ITOCHU International Inc. The North American flagship company of ITOCHU Corporation, ITOCHU International provides trading services for more than 20,000 items and manages a portfolio of around 30 subsidiaries and affiliates as well as a diversified range of investments. Headquartered in New York and operating in the US, Canada and Mexico, the company is involved in a wide variety of businesses, with particular strength in the textiles; machinery; aerospace, electronics and IT; food; forest products, chemicals and general merchandise; and energy and alternative energy sectors.

Telerent has been serving the hospital and lodging industries for over 45 years and currently has service and lease contracts with approximately 5,000 hotels, hospitals and restaurants throughout the U.S.

Telerent is the exclusive distributor of Philips TVs to hospitals and is one of the largest distributors of GE air conditioners and Philips TVs to the lodging industry. Telerent is also the nation’s largest non-pay-per-view distributor of DirecTV satellite headends and programming to hotels. A significant portion of Telerent’s equipment sales is financed through Telerent’s in-house leasing program.

For more than 10 years, Telerent has also provided a significant amount of lease financing to hotels and restaurants for equipment purchased from third parties.

Telerent’s leases are typically five-year, bargain purchase option leases.