MiddleGround Capital has acquired Xtrac, a leading manufacturer of high-performance transmissions, marking its first platform acquisition in Europe.

Target Company Information

MiddleGround Capital, an operationally focused private equity firm, has successfully executed its inaugural platform acquisition through the purchase of Xtrac, a leading manufacturer and supplier of high-performance transmissions. Headquartered in Thatcham, UK, Xtrac specializes in providing advanced transmission systems tailored for professional motorsport and high-performance automotive applications. Founded in 1984, it has established itself as the premier global supplier in this niche market, servicing not only internal combustion engines but also hybrid and electric vehicle segments.

Xtrac is recognized for its reliability and performance, having garnered partnerships with top-tier professional race teams and organizations across various racing disciplines, including Formula One, IndyCar, and NASCAR. The company is also a key player in supplying innovative transmission and mechatronic systems to prestigious hypercar OEMs. In addition to its operations in the UK, Xtrac maintains facilities in both Indianapolis, IN, and Mooresville, NC, which cater to the technical and after-sales support needs of its US clients.

Industry Overview

The automotive and motorsport industries in the UK are renowned for their engineering innovations and high-performance capabilities. With a rich history of motorsport excellence, the UK has built a substantial ecosystem of businesses dedicated to high-perfor