UK Inverter Maker Helix Acquired by Private Equity Buyer

A US private equity group has acquired the majority stake in Integral Powertrain, a renowned company based in Milton Keynes, known for its cutting-edge inverter and motor technology. The deal, orchestrated by MiddleGround Capital, marks a significant development in the company's trajectory. While MiddleGround Capital assumes control of the company, the original founders will retain a minority stake and continue as partners in the business.

Integral Powertrain, originally established in 1998 as Integral e-Drive, has carved a niche for itself in the realm of automotive engineering consultancy. The company, also known as Helix, has been at the forefront of developing and manufacturing advanced high-performance electric powertrain designs. Their range of fully-scalable high-power-density electric motors, inverters, and controllers EDUs are all crafted in-house and find applications in various burgeoning e-mobility markets, including top-tier Motorsport, electric hypercars like Lotus, electric Vertical Take-Off and Landing (eVTOL) aircraft, high-performance electric motorcycles, and electric watercraft. With a workforce of 200 employees in Milton Keynes, the company has positioned itself as a key player in the industry.

John Stewart, the Founding Partner of MiddleGround, expressed enthusiasm about the acquisition, stating, “Our investment in Helix aligns with our strategy of collaborating with industry leaders who share our Mobility Thesis, especially given their innovative high-performance motor and inverter technology. The company is well-poised to expand its product range and tap into a broader market segment, leveraging the growing trend towards electric vehicles. We look forward to leveraging our operational expertise to support their talented team in achieving the next phase of growth.”

Furthermore, MiddleGround's investment portfolio includes Xtrac, a transmission systems manufacturer, and Race Winning Brands, a component maker. This recent acquisition of Integral Powertrain represents the fourth successful transaction completed by MiddleGround's European team since the inception of its Amsterdam office in January 2023. While the financial details of the deal remain undisclosed, MiddleGround aims to drive revenue growth by bolstering Helix's commercial strategy, expanding production capacity to meet rising demand, implementing efficient procurement practices, investing in new product development, and venturing into new markets and product segments within the United States.

Alex Van Der Have, the Managing Director of Investments at MiddleGround, highlighted the strategic significance of the investment, stating, “We are excited to broaden our footprint in the hypercar and motorsport sectors and to establish a presence in the marine and aerospace industries through this strategic partnership. Helix's expertise in developing advanced powertrain solutions aligns seamlessly with our vision for this rapidly evolving industry sector. With MiddleGround's operational guidance, we are confident in our ability to accelerate growth efforts and cater to a wider clientele on a larger scale.”