Clifford Chance advised U.S. headquartered private equity firm MiddleGround Capital on its purchase of the UK based automotive transmissions manufacturer and supplier Xtrac from Inflexion. MiddleGround Capital is an operationally focused private equity firm that invests in middle market B2B industrial and specialty distribution companies globally. This transaction marks MiddleGround Capital's first deal in Europe following the opening of its office in Amsterdam in 2023.

Xtrac is a leading manufacturer and global supplier of professional motorsport and specialized high-performance automotive transmission systems. Xtrac also provides technical and after-sales support to key customers in the United States through its facilities in Indianapolis, IN, and Mooresville, NC.
 
The cross-practice team at Clifford Chance was led by private equity M&A partner Oliver Marcuse in London, with support from associates Georgia Demeure, Lianne Mizrachi, Megan Hodges and Cristina Rice. US-based partner Neil Barlow and associate Matt Bergerud supported the team.

Others in the team included Incentives partner Sonia Gilbert and associates Jennifer Danso and Julia Clark-Leonard, Finance partners Nicholas Kinnersley and Richard Day and senior associates Emily James, Silvia Menendez and Ioanna Saranti, and IP partner Don McCombie and senior associate Alex Walker.