UK-based electric powertrain specialist Helix has been acquired by US private equity firm MiddleGround Capital, paving the way for significant expansion and investment in the company’s future.
The deal sees MiddleGround take a majority stake in Helix, formerly known as Integral Powertrain Ltd. The Milton Keynes-based company has made a name for itself as a designer and manufacturer of high-performance electric motors, high-voltage inverters, and integrated electric drive units for various applications in the rapidly growing mobility sector.
Helix’s founding shareholders will remain involved in the business, which plans to use the new capital to increase production, invest in product development, and expand into new markets, including North America.
The company’s high-power-density technology has already found applications in diverse fields, including top-level motorsport with Formula E, hypercars like the Czinger 21c and Aston Martin Valkyrie, vertical take-off and landing (eVTOL) aircraft, high-performance motorcycles, and watercraft.
“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,” says Darren Cairns, Helix Director and CEO. “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.”
MiddleGround Capital, which has experience in the high-performance motorsport sector through previous investments, sees Helix as a strategic addition to its portfolio. “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,” says John Stewart, MiddleGround Founding Partner. “The Company is well-positioned to scale its product offerings and expand its addressable market, capitalising on the shift towards electric vehicles.”
The acquisition marks MiddleGround’s fourth transaction completed by its European team since establishing an Amsterdam office in January 2023. The firm aims to enhance Helix’s commercial strategy, expand production capacity, implement procurement best practices, invest in new product development, and facilitate expansion into new markets and product segments within the United States.
