Endless Fund IV Buys £70 million Company MTI Europe

Endless LLP announce that Endless Fund IV has acquired MTI Europe BV from US-based private equity fund Garnett and Helfrich Capital LLP (G&H).

MTI is a £70 million turnover, European provider of IT storage infrastructure and security solutions to national and global enterprises.

The acquisition price is undisclosed.

Headquartered in Godalming, Surrey, and operating predominantly in the UK, Germany and France, MTI provides services including on-site and cloud-based storage, security solutions and infrastructure-as-a-service. It is an expert in these fields, delivering a complete lifecycle service incorporating all elements from design to installation through to ongoing support and maintenance services, and a full managed service offering.

Against the backdrop of a market with robust fundamentals and MTI’s profitability, Endless plan to utilise their transformational and buy and build capabilities, and draw upon their experiences of owning similar businesses in the sector, to support management in growing the company over the coming years.

This is Endless’ eighth investment from its £525 million Fund IV and the transaction rapidly follows what has been a busy end to 2016 after the exits of Trustmarque, Liberata, Chaucer Foods and West Cornwall Pasty company.

Keith Clark, CEO, MTI, said: “Endless’ ownership of MTI Europe will allow the business to grow organically and through further acquisitions over the coming months. This presents an exciting opportunity for us all at MTI Europe, our employees, customers and partners. Endless has been focussed, agile and decisive in its approach and I am looking forward to seeing the impact of our combined experience and insight as it is put to full effect, taking MTI Europe to the next level. I am personally committed to ensuring that this acquisition delivers benefits to all of those we have relationships with as the business evolves to take advantage of new markets and growth strategies.”

Ed Ransome, investment director, Endless, who led the transaction said: “Our investment in MTI is a clear indicator that Endless has a strong appetite to invest in profitable businesses which operate across Europe. Under the leadership of Keith and his team, MTI has generated strong profits for many years. We will draw upon our experience as a transformational investor, and from owning similar companies in the past, to support him and his team in taking the business to a new era of growth through both organic means and from pursuing add-ons. Whilst Brexit has brought uncertainty to investors and owners of UK companies, we continue to pursue overlooked assets which possess underlying, latent value. We believe there will be significant opportunities for us to invest further in such businesses in 2017.”

The Endless deal team was led by Ed Ransome, Francesco Santinon and David Isaacs. Endless were advised by Eversheds (Robin Johnson, Jonathan Pollard and Simon Winterburn) and BDO (Lee Jefferson and Nuala Higgins). G&H were advised by Spectrum Corporate Finance (Clive Hatchard and James Mines), Cooley LLP (Justin Stock and Stephen Rosen) and DAC Beachcroft LLP (John Singh).

MTI Europe has a workforce of 200 employees operating across 10 sites in the UK, France and Germany.

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MTI Europe Finally Acquired by Garnett & Helfrich Capital
by Jean-Jacques Maleval | 2007.11.30 | News