Laser Focus World is an industry bedrock—first published in 1965 and still going strong. We publish original articles about cutting-edge advances in lasers, optics, photonics, sensors, and quantum technologies, as well as test and measurement, and the shift currently underway to usher in the photonic integrated circuits, optical interconnects, and copackaged electronics and photonics to deliver the speed and efficiency essential for data centers of the future.

Our 80,000 qualified print subscribers—and 130,000 12-month engaged online audience—trust us to dive in and provide original journalism you won’t find elsewhere covering key emerging areas such as laser-driven inertial confinement fusion, lasers in space, integrated photonics, chipscale lasers, LiDAR, metasurfaces, high-energy laser weaponry, photonic crystals, and quantum computing/sensors/communications. We cover the innovations driving these markets.

Laser Focus World is part of Endeavor Business Media, a division of EndeavorB2B.

Laser Focus World Membership

Never miss any articles, videos, podcasts, or webinars by signing up for membership access to Laser Focus World online. You can manage your preferences all in one place—and provide our editorial team with your valued feedback.

Magazine Subscription

Can you subscribe to receive our print issue for free? Yes, you sure can!

Newsletter Subscription

Laser Focus World newsletter subscription is free to qualified professionals:

The Daily Beam

Showcases the newest content from Laser Focus World, including photonics- and optics-based applications, components, research, and trends. (Daily)

Product Watch

The latest in products within the photonics industry. (9x per year)

Bio & Life Sciences Product Watch

The latest in products within the biophotonics industry. (4x per year)

Laser Processing Product Watch

The latest in products within the laser processing industry. (3x per year)

Get Published!

If you’d like to write an article for us, reach out with a short pitch to Sally Cole Johnson: [email protected]. We love to hear from you.

Photonics Hot List

Laser Focus World produces a video newscast that gives a peek into what’s happening in the world of photonics.

Following the Photons: A Photonics Podcast

Following the Photons: A Photonics Podcast dives deep into the fascinating world of photonics. Our weekly episodes feature interviews and discussions with industry and research experts, providing valuable perspectives on the issues, technologies, and trends shaping the photonics community.

Editorial Advisory Board

  • Professor Andrea M. Armani, University of Southern California
  • Ruti Ben-Shlomi, Ph.D., LightSolver
  • James Butler, Ph.D., Hamamatsu
  • Natalie Fardian-Melamed, Ph.D., Columbia University
  • Justin Sigley, Ph.D., AmeriCOM
  • Professor Birgit Stiller, Max Planck Institute for the Science of Light, and Leibniz University of Hannover
  • Professor Stephen Sweeney, University of Glasgow
  • Mohan Wang, Ph.D., University of Oxford
  • Professor Xuchen Wang, Harbin Engineering University
  • Professor Stefan Witte, Delft University of Technology

MiddleGround Capital’s European Office Makes First Platform Acquisition with Close of UK-Based Automotive Transmission Systems Manufacturer Xtrac

LEXINGTON, Ky. and AMSTERDAM, July 31, 2023 (GLOBE NEWSWIRE) -- MiddleGround Capital, an operationally focused private equity firm that makes control investments in middle market B2B industrial and specialty distribution companies globally, today announced that its European office has completed its first platform acquisition with the purchase of Xtrac (“the Company”), the leading manufacturer and supplier of high performance transmissions for top-level professional motorsport and specialist high performance automotive applications.

Founded in 1984 and headquartered in Thatcham, United Kingdom (UK), Xtrac is the leading global supplier of professional motorsport and specialized high performance automotive transmission systems across internal combustion engine, hybrid, and electric vehicles, providing in-house manufacturing as well as design and engineering services. Xtrac’s focus on performance and reliability has made them the benchmark in the industry, testified by their longstanding supply to a large number of the world’s top professional race teams and organizations, including teams in Formula One, Formula E, Sportscar and touring car racing globally, world rallying and off-road racing, IndyCar and NASCAR. The Company has also developed relationships with the world’s top hypercar OEMs, providing transmission and mechatronic systems to a number of the market’s premier vehicles. In addition to its headquarters in the UK, Xtrac also has facilities in Indianapolis, IN, and Mooresville, NC, through which the Company provides world leading technical and after-sales support to key customers in the United States.

“Xtrac represents an opportunity to partner with the leading provider of high-performance transmission systems for the specialized motorsport and automotive markets,” said John Stewart, MiddleGround Founding Partner. “We believe that under Adrian’s leadership, Xtrac is well-positioned for long-term growth and leading the future transition of the motorsport and high-performance automotive industry to hybrid and EV drivetrains by delivering innovative products in a sustainable manner.”

“Since our establishment, our unwavering commitment to R&D, manufacturing technology, and developing the skills of our people with our award-winning apprentice program, has resulted in the development of innovative, industry-leading products that are of critical importance to our customers,” said Adrian Moore, CEO at Xtrac. “The whole team at Xtrac in the UK and the USA pride ourselves in our ability to assure our customers that performance and endurance milestones achieved during testing are repeated on the track and during a product’s life cycle by supplying products of the highest quality. By partnering with MiddleGround, we look forward to building on our success and benefitting from their expertise and guidance through this next stage of expansion.”

“We are thrilled to announce this first acquisition for our recently established European office in Amsterdam,” said Alex Van Der Have, Managing Director, Investments at MiddleGround. “Xtrac is a great company and, in light of positive market tailwinds, we see a lot of potential for growth driven in particular by burgeoning consumer demand for high-performance transmissions for hypercars and for motorsport. With this investment to support growth, customers will certainly benefit from Xtrac’s enhanced capacity and capability.”

MiddleGround launched its Amsterdam office as a base for its European strategy in January 2023. That team is led by three Managing Directors, Alex Van Der Have, who is Head of the Investment Team; Anthony Denaix, Head of Business Development; and Robert Jonkers, Head of Operations.

Lincoln International provided corporate and capital advisory services to MiddleGround for the acquisition. Clifford Chance LLP served as legal advisor to MiddleGround. Alvarez & Marsal served as financial and tax advisors to MiddleGround.

About Xtrac
Based in Berkshire in the UK and Indiana and North Carolina in the US, Xtrac is a prominent ambassador for the UK’s world-renowned motorsport industry.

Established in 1984, the company employs around 400 highly qualified staff, including those trained through Xtrac’s award-winning apprentice and undergraduate schemes to work on global customer programmes, supplying world-class transmission and driveline products, including gearboxes, differentials, and gearchange systems. It exports around 70 per cent of its manufacturing output to Asia, Australia, Europe, South America, and the US.

Xtrac works mainly with the high-performance automotive sector alongside its traditional heartland of the motorsport industry. Customers of its high-performance automotive and motorsport business sectors rely on its specialist expertise, augmented by the company’s substantial investment in research and innovation supported by advanced design, engineering and manufacturing resources.

For further information, please visit www.xtrac.com.

About MiddleGround Capital
MiddleGround Capital is a private equity firm based in Lexington, KY with over $3.3 billion of Assets Under Management. MiddleGround makes control equity investments in middle market B2B industrial and specialty distribution businesses. MiddleGround works with its portfolio companies to create value through a hands-on operational approach and partners with its management teams to support long-term growth strategies. For more information, please visit: https://middleground.com/.

MiddleGround Capital Media Contact:
Doug Allen/Maya Hanowitz
Dukas Linden Public Relations
MiddleGround@dlpr.com
+1 (646) 722-6530

Xtrac Media Contact:
Robert Palmer
Palmer Public Relations Limited
rpalmer@palmerpr.com
+44 1582 763255 or +44 7768 242761


Stock Quote API & Stock News API supplied by www.cloudquote.io
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms Of Service.