Law firm advises HORIBA MIRA on Italian deal

Law firm Mills & Reeve has advised engineering and research specialist HORIBA MIRA on the sale of the majority stake in its Nuneaton-based uncrewed ground vehicle division MIRA UGV.

IDV, the brand of Italian defence vehicle manufacturer Iveco Group, has acquired the controlling stake in MIRA UGV in a move to combine IDV’s 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 provides capital to boost HORIBA MIRA’s UGV platforms and technology to the next stage of production 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 in Nuneaton.

Peter McLintock, corporate partner who led the Mills & Reeve 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, said: “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.”