Endless has bought a £70m-turnover European IT company as it continues to shift its transformational investment strategy onto profitable companies.

The Leeds private equity house has increasingly focused on acquiring and growing profitable businesses and the purchase of MTI Europe from US-based private equity fund Garnett and Helfrich Capital fits in with this approach.

Ed Ransome, the 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.”