MTI is a £70 million turnover, provider of IT storage infrastructure and security solutions to national and global enterprises. The acquisition price remains 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.
Against the backdrop of a market with robust fundamentals and MTI’s healthy profitability, Endless plan to utilise their transformational and buy & 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, chief executive of 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 at 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."