We have advised leading mid-market private equity firm Inflexion, and the group's senior management team, on the sale of Xtrac, a market-leading manufacturer of transmissions systems for the motorsport and high-performance sectors. Xtrac was acquired by Middleground Capital, a US middle market private equity firm.
Xtrac was founded in 1984 and has become the world leader in the design and manufacture of high-performance transmissions for the motorsport, hypercar and supercar industry. The business supplies most of the world’s top motorsport teams in both two- and four-wheeled racing categories across the globe, including Sportscar racing, NASCAR and Formula 1™. Xtrac is also at the forefront of hybrid and electric vehicles developments.
The deal required expertise drawn from across the firm's private equity team and other specialist teams including tax, banking, commercial, employment and real estate.
Commenting on the deal, Private Equity Partner James Goold, said: "We were extremely pleased to represent Inflexion and the Xtrac management team on this deal. Xtrac operates in a fascinating sector and we look forward to seeing the company go from strength to strength in its next phase of ownership under Middle Ground".
Richard Booth, Partner at Inflexion, added "Taylor Wessing pulled out all the stops to help us and Xtrac bring this investment to a successful exit. The team's commitment and support to all involved in delivering this deal was exceptional."
The team was led by Private Equity Partner James Goold with support from Senior Associates Alexandra Holden and Alex Walker, Associate Alice Picton and Trainee Solicitor Kate Hamblin in the Private Equity team.
Further support was provided by:
Banking and Finance
Partner Martin Yells and Associates Anna Dugoni and Joe Slack.
Employment, Mobility and Pensions
Partner Sean Nesbitt and Senior Associate Ruth Moffett.
Paolo Palmigiano and Elisabetta Rotondo.
Partner Emma Oakley, Senior Associate Rhys Bufton and Associate Francesca Gibbs.
Tax and Incentives
Partners Liz Wilson and Claire Matthews, Senior Counsel Katie Lewis and Senior Associate Bridget Winters.
Technology, IP and Information
Partner Sian Skelton and Associates Calum Parfitt, Megan Lukins and Laura Craig.
Paralegals Ryan Lysycia, Jamie Mehta, Catherine Morrissey and Savannah Swale.