MiddleGround Capital has acquired Xtrac from Inflexion
Xtrac is the leading global supplier of professional motorsport and specialist high-performance automotive transmission systems across internal combustion engines, hybrid and electric vehicles, providing in-house design and engineering services, manufacturing and spares. Xtrac is a technology leader in specialist transmission systems and has a long history of pioneering high-performance hybrid and electric mobility solutions. Xtrac is headquartered in Thatcham, UK with two additional U.S. facilities and more than 400 employees.
MiddleGround Capital acquired a majority stake in Xtrac, alongside the management team, with the objectives of accelerating its plans for growth in high-performance automotive and leading the development of specialist hybrid and electric vehicle transmission systems. Lincoln International acted as the exclusive corporate finance and debt advisor to MiddleGround, supporting MiddleGround in a competitive process and arranging a suitable financing package to finance the acquisition and the operating needs of the company. Given Lincoln’s deep knowledge of the motorsport and high-performance automotive sector, Lincoln was able to offer insightful analysis, which acted as a key contributor to the successful completion of the transaction.
Matthew Buck, Managing Director in Lincoln’s Industrials Group, commented, “We are delighted to have supported MiddleGround on their investment in Xtrac. MiddleGround is an experienced investor in the motorsport and high-performance automotive sector and is a natural partner for Xtrac as it embarks on its next stage of growth. This transaction highlights Lincoln’s strong track record in the high-performance engineering and mobility sector.”
It was a pleasure to work with Lincoln on our first European acquisition. Their genuine sector knowledge, technical and tactical input and integrated mergers and acquisitions and debt advice contributed to securing our investment in Xtrac. The Lincoln team delivered on all counts.
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