Endless, the Leeds-based private equity firm, has completed the sale of MTI Technology Group to Ricoh Europe.
MTI is an IT specialist solutions provider which has helped thousands of organisations to transform their IT operations by leveraging the latest technologies.
It employs more than 200 people, generating revenues of over £80 million per year with operations across the UK, Germany and France.
Endless acquired MTI in December 2016 from US-based private equity fund, Garnett and Helfrich Capital LLP.
Ricoh, which generates revenues in excess of £15 billion per year, is a global provider of technology that transforms business processes and information management to help organisations be more agile, productive and profitable.
MTI will continue to operate under its existing name as a separate Ricoh entity.
“We are extremely proud to have supported Scott, Angelo, Ben & Simon over the course of the last 4 years. The company has undergone a successful transformation under Endless’ ownership and has invested significantly in the development of its solution set, people, internal systems and operations,” said David Isaacs, Associate Director, Endless, who has worked alongside MTI since investment.
“This successful transformation is underpinned by the numerous and well-deserved awards that MTI has received in recent years. Under Ricoh’s ownership, we strongly believe that the business will go from strength to strength and create wider opportunities for growth and investment.”
Endless and the management team were advised by Walker Morris, led by Debbie Jackson and Squire Patton Boggs, led by Jonathan Jones.