Case Study: Helix Manufacturing Sale Leaseback in the United Kingdom

Working with MiddleGround Capital, Ascension Advisory structured and executed a sale & leaseback of Helix’s 47,398-square-meter advanced manufacturing facility in the United Kingdom.

Helix is a leading designer and manufacturer of high-performance electric motors, high-voltage inverters, and fully integrated electric drive units serving rapidly expanding mobility applications including motorsport, electric hypercars and supercars, eVTOL aircraft, high-performance electric motorcycles, and electric watercraft.

Founded in 1998 as Integral Powertrain Limited, the company began as an automotive and motorsport engineering consultancy before pivoting in 2009 toward the development of advanced electric powertrain systems. In June 2022, the business rebranded to Helix, reflecting its evolution into a full-scale manufacturer of high-performance electric propulsion technologies.

The sale & leaseback reinforced the long-term stability of Helix’s core innovation and manufacturing hub while providing capital flexibility to support continued product development and expansion across next-generation mobility platforms.

Overview

This transaction was completed on behalf of MiddleGround Capital, with Helix as the operating portfolio company. The property, a 47,398 square metre advanced manufacturing facility in the United Kingdom, serves as a mission-critical asset underpinning Helix’s engineering, production, and innovation capabilities.

Objective

MiddleGround Capital sought to unlock the value embedded within Helix’s real estate while preserving full operational control of a facility central to the company’s long-term growth. The mandate was to generate liquidity that could be redeployed into the business, while also improving balance sheet flexibility and maintaining a lease structure aligned with Helix’s evolving production and innovation needs.

Given the specialized nature of the asset and its importance to ongoing operations, it was critical that the transaction be executed without disruption and with a long-term partner that understood the strategic role of the facility.

Solution

Ascension Advisory structured and led a competitive sale leaseback process, positioning the asset as a high-quality, mission-critical industrial facility supported by a strong operating company and institutional private equity sponsorship.

We focused investor messaging on the durability of Helix’s tenancy, the specialized build and high replacement cost of the facility, and the company’s exposure to rapidly expanding electrification and advanced mobility end markets. The process was designed to attract sophisticated buyers capable of underwriting both the real estate and the operating business, ensuring alignment on lease terms and long-term occupancy.

Throughout the process, our team managed buyer engagement, diligence, and negotiations, ultimately structuring a transaction that balanced pricing, certainty of close, and lease flexibility to support Helix’s future growth initiatives.

Outcome

The transaction successfully converted illiquid real estate value into strategic capital, enabling MiddleGround Capital to reinvest into Helix’s core operations without compromising control of a critical asset.

Proceeds were deployed to support continued product development and expansion across next-generation mobility platforms, while the long-term lease structure ensured operational continuity and flexibility. The transaction also enhanced overall capital efficiency at the portfolio level, reinforcing the role of sale leasebacks as a strategic tool for value creation.

This outcome highlights how separating real estate from operations can unlock capital, strengthen the balance sheet, and position a business to scale more effectively in high-growth, innovation-driven sectors.