Inflexion has announced a deal to gain the controlling stake in Xtrac. The agreement will see the established management team remain in place as the private equity firm looks to build on Xtrac’s recent success.
“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,” Simon Turner, managing partner at Inflexion, commented.
“We bring experience from across the specialist engineering sector with businesses such as Shimtech and Aspen Pumps, as well as an extensive track record in growing teams to promote sustainable growth.”
The investment will help fuel Xtrac’s future expansion, supporting its rapidly growing high-performance road car division and increasing the existing team of 330 in the UK and US. Additionally, Inflexion will fund the extension of the company’s factory and purchase of world class machinery, as it looks to accelerate the development of next-gen high-end transmission systems as well as advancing its capabilities in hybrid and EV technology.
Adrian Moore managing director of Xtrac, said, “We are proud of the leading global business Xtrac is today; persistent innovation and exceptional customer service remain our highest priorities. 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.”