Xtrac is a market-leading manufacturer of transmissions systems for the motorsport and high-performance automotive sectors. Inflexion invested in the business in 2017 before selling its investment in 2023 to MiddleGround Capital, a US and European middle market private equity firm.

  • Sector


  • Headquarters

    Berkshire, UK

  • Fund


  • Investment date

    October 2017 - July 2023

  • Status


The company

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 Inflexion investment

Following the investment by Inflexion in 2017, Xtrac has broadened its product offering and significantly strengthened its electric vehicle transmission capabilities, with the overall revenue contribution of hybrid and electric vehicle transmissions systems more than tripling. In addition, the product offering and customer base was strengthened to include new hypercar models.

The investment enabled Xtrac to expand its manufacturing capacity with the opening of a significant state-of-the-art manufacturing facility extension in 2018, opening of the in-house Xtrac Academy apprentice training centre last year, and recent expansion of its US operation, whilst investing in its workforce with the number of highly skilled high-value manufacturing staff and engineers increasing by close to 50% to over 450 staff.

The Inflexion difference

Inflexion’s ESG team worked with the business to add value by enhancing their ESG offering resulting in Xtrac achieving three prominent ESG accreditations; (i) the ESGmark® which certifies Xtrac’s commitment to ESG, (ii) the Science Based Targets initiative approved its carbon reduction targets and (iii) has the Living Wage accreditation.

Press releases