Private equity firm MiddleGround Capital announced that it has acquired Zoerkler GmbH & Co KG, a supplier of high-performance transmission components located in Austria.
The company serves the aerospace, defense, automotive, rail and general industrial markets, MiddleGround officials said, and counts a range of “blue-chip” companies among its customers, including Honda, Safran, Porsche and Mercedes AMG.
Zoerkler will be absorbed by MiddleGround-owned Xtrac, which provides transmissions and mechatronics for specialty automotive and motorsports applications.
MiddleGound said the move would expand Xtrac’s product line, as well as help bolster its production capacity.
Terms of the deal were not disclosed.
“Zoerkler is well-established and highly regarded in the industry and offers a unique opportunity to bring a complementary transmission and drivetrain component specialist to our portfolio,” John Stewart, MiddleGround’s founding and managing partner, said in the announcement. “This acquisition underscores our commitment to partnering with leading technology and engineering companies.”
