HSBC Private Equity acquires stake in Xtrac

HSBC Private Equity has acquired a 25% stake in Xtrac, the motor racing transmissions supplier. Xtrac will use the cash to finance a new 88,000sq ft factory near Newbury in Berkshire and to purchase additional machinery. The company’s customers include Formula One, rally and touring car teams.

HSBC Private Equity has acquired a 25% stake in Xtrac, the motor racing transmissions supplier. Xtrac will use the cash to finance a new 88,000sq ft factory near Newbury in Berkshire and to purchase additional machinery. The company’s customers include Formula One, rally and touring car teams.