Pankl Racing Systems
has acquiredNorthbridge Motorsport
, a Leicester-based specialist bolts manufacturer supplying the motor sports industry, for around €2.3m.
In the fiscal year 2007, Northbridge Motorsport recorded revenues of €2m with 14 employees. Customers include teams from F1 and the WRC.
‘We are very pleased to be able to integrate yet another superbly positioned motor racing company into the Pankl Group,’ said Pankl CEO Wolfgang Plasser. ‘In particular, the addition of conrod bolts representing highly critical and complex components adds value to our motor sports market offering of complete systems comprising conrod, piston and piston pins.’
Pankl, a portfolio company of QINO Flagship, develops and produces engine and drivetrain components for to the motor racing and aerospace industries. The company employs over 800 staff at locations in Austria, UK, USA, Slovakia and Japan. Customers include Bugatti, Ferrari and Porsche.
‘This takeover represents another logical step in Pankl's motor sport growth strategy, strengthening its position as a complete systems supplier,’ added QINO Flagship chairman Daniel Marty.