Storage infrastructure and security company MTI is under new ownership following its acquisition by ex-owner of Trustmarque Endless. The EMC partner boasts £70m turnover and was sold by US-based private equity firm Garnet and Helfrich Capital for an undisclosed sum.
MTI is headquartered in Godalming and operates mainly in the UK, Germany and France. Its services include on-site and cloud-based storage, security solutions and IaaS.
MTI CEO Keith Clark said: "Endless' ownership of MTI Europe will allow the business to grow organically and through further acquisitions over the coming months."
Ed Ransome, Investment Director at Endless who led the transaction, commented: "Endless has a strong appetite to invest in profitable businesses which operate across Europe.
"MTI has generated strong profits for many years and we will support Mike and his team in taking the business to a new era of growth through both organic means and from pursuing add-ons."
"While 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 deal is Endless' eighth investment from its £525m Fund IV and follows the exits of Trustmarque, Liberata, Chaucer Foods and West Cornwall Pasty Company.