Overview of Michelin’s Strategic Acquisitions
Michelin has signed agreements to acquire Cooley Group, a specialist in industrial coated fabrics, and Tex Tech Industries, a leading designer and manufacturer of specialized textiles and fabrics. These acquisitions will accelerate Michelin’s expansion into new markets and regions, increasing its revenue by approximately 20%.
About the Acquired Companies
Cooley Group:
- Recognized for expertise in high-performance polymer coated fabrics.
- Vertically integrated with capabilities in weaving, knitting, and polymer extrusion.
- Designs and manufactures innovative, sustainable polymer solutions for various applications including medical devices, water retention, chemical products, and environmental solutions.
Tex Tech Industries:
- A leading designer and manufacturer of specialized textiles, fabrics, and coatings for diverse industries and applications.
- Created solutions for demanding applications such as thermal protection systems for space vehicles, fire-resistant materials for aircraft fuselages, ignition-resistant aviation seats fabrics, and custom-made fabrics for composite applications.
Impact on Michelin’s Polymer Composites Solutions (PCS)
These acquisitions will accelerate Michelin’s expansion into new markets and regions, increasing the revenue of its Polymer Composites Solutions (PCS) activity by approximately 20% (around 238 million euros).
The transactions are expected to close during the first half of 2026, subject to customary adjustments and relevant merger control authorizations. They will be fully financed with available cash, although the amounts have not been disclosed at this stage.
Given the growing significance of PCS within Michelin’s revenue, the group plans to establish a dedicated reporting segment starting from 2026.
Key Questions and Answers
- Who are the companies being acquired by Michelin? Cooley Group and Tex Tech Industries.
- What are the specialties of Cooley Group? Cooley Group is known for its expertise in high-performance polymer coated fabrics and provides sustainable solutions for various applications, including medical devices, water retention, chemical products, and environmental solutions.
- What makes Tex Tech Industries significant? Tex Tech Industries is a leading designer and manufacturer of specialized textiles, fabrics, and coatings for diverse industries. They have created solutions for demanding applications such as thermal protection systems for space vehicles and fire-resistant materials for aircraft fuselages.
- How will these acquisitions impact Michelin? The acquisitions will accelerate Michelin’s expansion into new markets and regions, increasing its Polymer Composites Solutions (PCS) activity revenue by approximately 20%.
- When are the acquisitions expected to close? The transactions are expected to close during the first half of 2026, subject to customary adjustments and relevant merger control authorizations.
