Italian job as defence vehicle manufacturer takes majority stake in HORIBA MIRA division

Leicestershire-headquartered auto engineering consultancy HORIBA MIRA has sold a majority stake in its uncrewed ground vehicle division MIRA UGV.

IDV, the brand of Italian defence vehicle manufacturer Iveco Group, has acquired a controlling stake in MIRA UGV in a bid to combine its technological know-how and global production capabilities with HORIBA MIRA’s position as a leader in the rapidly developing uncrewed ground vehicle (UGV) market.

The agreement will provide capital to boost HORIBA MIRA’s UGV platforms and tech and enable the firm to develop state-of-the-art UGV solutions required by the UK Ministry of Defence and its allies.

MIRA UGV will continue to be based at MIRA Technology Park across the Warwickshire border in Nuneaton.

Peter McLintock, corporate partner at Mills & Reeve, who led the team advising HORIBA MIRA, said: “We’re extremely pleased to have supported HORIBA MIRA in procuring a specialist defence and commercial contractor partner for its UGV business. The company has created an incredibly versatile and capable unmanned vehicle, supported by cutting-edge technology, with huge potential to support and assist our armed forces. Iveco can now turbocharge the development of its potential. To guide a path through the regulatory issues involved and to help create the framework for the partnership was a real privilege.”

Tim Nathan, chief operating officer at HORIBA MIRA, added: “We’re very pleased with the support from Mills & Reeve, this is a key milestone for us in the development of MIRA UGV enabling us to scale and accelerate development on a global stage.”