History

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, 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 United States.

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.

1957

 

Founded as Southern Frontier Finance Company

1969

 

Renamed Telerent Leasing Corporation

1983

 

Acquired by The Aviation Group, Inc.

1989

 

Acquired by ITOCHU International, Inc.

1992

 

Acquired $45 million RCA TV lease portfolio from GE Capital

1993

 

Launched Vendor Capital Group (VCG) to provide third-party financing

1994

 

TeleHealth Services (THS) formed, current President George Fleming joined TLC as General Manager of THS

1996

 

THS acquired the healthcare assets of Granada North America ,becoming market leader in hospital television systems in the U.S. and Canada

1998

 

Formed FTG (Free-To-Guest) to provide satellite programming to the hospitality industry.

2000

 

Telerent combined its Lodging Systems sales group and the recently-acquired MGC group into Allegiant FF&E sales group. Also created Beacon Insurance Company (insurance captive), and sold healthcare business of Telerent of Canada to SaskTel.

2002

 

Created the Finance Group to bring together all the lease financing operations of the company

2003

 

TeleHealth Services introduced TIGRNet and TIGRVue interactive television product lines for hospitals

2004

 

Telerent discontinued Allegiant hotel furnishings sales to focus on core business

 

 

Achieved highest profit level in 40 year history

2005

 

Telerent acquired healthcare assets of Tenavision, Inc.