PRIVATE equity investor MiddleGround Capital has concluded a deal for a majority ownership stake in Milton Keynes-based designer and manufacturer of high-performance electric powertrains Integral Powertrain.
The technology invented and developed by Integral Powertrain under its trading name Helix is already at work in top-level motorsport, vertical take-off and landing aircraft, sports cars, motorbikes and boats.
The new ownership by USA-based Middleground will enable Helix to invest in product development, increase production at its technical centre headquarters at Shenley Wood and expand into new markets including the USA and Canada.
“For 15 years Helix has been a pioneer in the realisation of powerful, compact, efficient electric drive systems enabling our clients to achieve outstanding, often record-breaking products,” said its director and chief executive Darren Cairns.
“We have established a proven track record, and our Scalable Core Technology has become one of the most trusted sources for high-performance electric propulsion products in the eMotorsport and hypercar markets.
“With the support of MiddleGround’s operational expertise and guidance, I am confident that we will have the necessary tools to continue to ramp up growth efforts and reach a wider range of clients at a greater scale.”
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Main picture: Darren Cairns (right) with Robert Jonkers, MiddleGround Capital’s managing director and head of EU operations.
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MiddleGround Capital has extensive experience in the high-performance motorsport sector through its portfolio investments, including the UK-based Xtrac, a leading global supplier of professional motorsport and specialised high-performance automotive transmission systems.
It has also invested in New Eagle, which provides proprietary hardware and software solutions for the development of control systems for applications including autonomous and electric vehicles as well as Race Winning Brands, a manufacturer and marketer of racing and high-performance engine components.
The investment in Helix represents the fourth transaction completed by MiddleGround’s European team since the establishment of its Amsterdam office in January 2023.
MiddleGround’s founding partner John Stewart said: “Our investment in Helix represents a continuation of our strategy of partnering with leading companies aligned with our Mobility Thesis, particularly given their pioneering, high-performance motor and inverter technology.
“The company is well positioned to scale its product offerings and expand its addressable market, capitalising on the shift towards electric vehicles.
“We are very excited to lend our deep operational experience to their talented team, and to assist them in reaching their next stage of growth.”
Helix has a reputation as one of the most trusted sources for high-performance electric propulsion solutions. MiddleGround aims to add value and unlock future revenue growth by further enhancing Helix’s commercial strategy, expanding its production capacity to meet increasing demand, implementing procurement best practices, investing in new product development and expanding into new markets and product segments in the USA.
Milton Keynes-based law firm EMW advised Helix on the deal.
“We are thrilled to expand our coverage of hypercar and motorsport sectors and to build our presence in marine and aerospace with this strategic investment,” said Alex Van Der Have, MiddleGround managing director, investments. “Helix is a leader in developing advanced powertrain solutions and our teams have a natural alignment on how best to approach this fast-paced and growing industry sector.”