Inflexion is backing Xtrac’s well established management team, who will remain with the business. Inflexion’s investment will help fuel Xtrac’s future expansion, supporting its rapidly growing high-performance road car division and increasing Xtrac’s team of 330 in the UK and US. Inflexion will support the extension of Xtrac’s factory and purchase of additional world class machinery, accelerating the development of the next generation of high-end automotive transmission systems and advancing its capabilities in hybrid and electric vehicles.
Says Xtrac managing director Adrian Moore: “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. 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.”
Adds Inflexion managing partner Simon Turner: “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 Inflexion deal team comprised John Harper and Henry Arundel, both of whom will join the board at acquisition. Xtrac was advised by Cavendish Corporate Finance LLP.
IMAGE CAPTION: Xtrac’s directors, pictured with F1 transmission, include (from l to r) operations director Martin Halley, development director Cliff Hawkins, chairman Peter Digby, finance director Stephen Lane, and managing Adrian Moore. The new upper board will comprise Digby, Moore and Lane plus John Harper and Henry Arundel from Inflexion. The current senior management team, responsible for the day-to-day running of the business remains as Peter Ayling, Jane Gilham, Martin Halley, Cliff Hawkins, Stephen Lane, Jon Marsh, Adrian Moore, James Setter, Martyn Silby and DJ Smith.
