Friday, December 21, 2007
MTI Europe Acquired By Garnett & Helfrich Capital
Private equity firm Garnett & Helfrich Capital said today that it has acquired MTI Europe, the European branch of bankrupt storage value added reseller MTI. Financial terms of the buyout were not disclosed. The sale came as part of a court-supervised bankruptcy auction. Tustin-based MTI file for bankruptcy in October and had laid off most of its employees. According to Garnett & Helfrich Capital, it purchased MTI Europe from MTI Technology, and has also acquired MTI Technology Corp's brand and trademark assets. It said it will rename MTI Europe as a new, standalone company under the MTI name. MTI is a reseller of EMC storage equipment.