Inflexion backs buyout at F1 transmission tech firm
Xtrac, the transmission technology specialist which makes parts for motorsport and Formula 1 cars, has been acquired for an undisclosed sum by mid-market private equity firm Inflexion.
Inflexion is backing the Berkshire-based company's management team, including managing director Adrian Moore.
Xtrac specialises in designing and manufacturing high-performance transmissions for the motorsport and automotive industry. It supplies most of the world’s top motorsport teams in both two and four-wheeled formulae across the globe, from MotoGP to Formula 1.
“We are proud of the leading global business Xtrac is today; persistent innovation and exceptional customer service remain our highest priorities,” Adrian Moore said.
"Inflexion shares our values; its investment will accelerate our ambitious growth strategy, developing the next generation of high-end automotive transmission systems and expanding our coverage of the high-performance hybrid and electric car transmission market.
"This partnership with Inflexion supports Xtrac’s ethos of employee ownership, and our team look forward to a new chapter in the continuing development and growth of our company.”
Simon Turner, managing partner at Inflexion, added: "We are backing a highly experienced management team with serious ambition. Xtrac is a truly exciting business, leading its market with superior design capabilities and a blue-chip global client base.
“We bring experience from across the specialist engineering sector with businesses such as Shimtech and Aspen Pumps, and an extensive track record in growing teams to promote sustainable growth. We are delighted to partner with the Xtrac team.”
The investment will help fuel Xtrac's future expansion, supporting its high-performance road car division and growing its team of 330 in the UK and US.
It will also support the extension of the company's factory in Thatcham and the purchase of additional machinery.