Garnett & Helfrich Buy MTI Europe

SAN MATEO, Calif. and GODALMING, SURREY, U.K. -- Garnett & Helfrich Capital, a private equity firm specializing in venture buyouts (VBOs), today announced the acquisition of MTI Europe, a leading multinational provider of consulting services and data storage, storage management and data protection solutions. Garnett & Helfrich Capital purchased MTI Europe from its previous owner, MTI Technology Corporation, in a court-supervised auction. In this transaction, Garnett & Helfrich Capital also acquires MTI Technology Corporation's brand and trademark assets for the resulting new company. This transaction establishes MTI Europe as a new, standalone company and it will be renamed MTI.

Through a long-standing selling partnership with EMC Corporation(NYSE:EMC), the world leader in information infrastructure solutions, MTI delivers best-of-breed networked storage, data protection and recovery, records management and compliance, business continuity, storage resource management, and other solutions to its clients. MTI mainly targets mid-market businesses when developing and delivering solutions.

Garnett & Helfrich Capital, the venture buyout firm, contributed capital to MTI and is the controlling shareholder. The Board of Directors will be formed with the following members: Terence Garnett, managing director and cofounder of Garnett & Helfrich Capital, will act as chairman; Michael Cody, formerly vice president of corporate development at EMC Corporation and currently an advisor to Garnett & Helfrich Capital; Grace Koo, vice president at Garnett & Helfrich Capital; Keith Clark, who will also be president and chief executive officer of MTI. MTI's headquarters are located in Godalming, Surrey, United Kingdom.

"EMC welcomes the opportunity to start a new partnership with Garnett & Helfrich Capital and the newly independent MTI," said Willem Hendrickx, Vice President, EMC Channels and Mid-Market for EMEA. "This investment should help to enhance MTI's potential in the European market and help them to secure new business opportunities by offering their customers world-class information management solutions based on EMC technology."

Garnett & Helfrich Capital