# Michelin to acquire Flex Composite Group for €700M

Michelin has agreed to acquire Flex Composite Group (FCG), a European leader in advanced composite materials, from IDI and Andera Partners for an enterprise value of €700 million. The transaction is expected to close in Q3 2023, subject to regulatory approval.

- Type: Acquisition
- Announced: 2023-06-19
- Where: Paris, France
- Value: $763.0M (700.0M EUR)
- Status: announced
- Products: advanced composite materials, engineered fabrics, carbon fiber composites, thermoplastic films
- Sectors: [Specialty Chemicals](https://endata.com/sectors/specialty-chemicals.md)

## Companies

- [Michelin](https://endata.com/companies/13430.md) (acquirer)
- [IDI](https://endata.com/companies/24320.md) (partner)
- [Andera Partners](https://endata.com/companies/52516.md) (partner)
- [Flex Composite Group](https://endata.com/companies/66060.md) (target)

## Sources

- [anderapartners.com](https://www.anderapartners.com/fr/andera-partners-cede-flex-composite-group-au-groupe-michelin-pour-une-valeur-dentreprise-de-700-millions-deuros/), 2023-06-19: "L’IDI et Andera Partners annoncent avoir conclu un contrat de cession portant sur la totalité du capital de Flex Composite Group (FCG) à Michelin pour une valeur d’entreprise de 700 millions d’euros."
- [cbinsights.com](https://www.cbinsights.com/company/flex-composite-group), 2023-06-19: "In June 2023, Flex Composite Group was acquired by Michelin."
- [webwire.com](https://www.webwire.com/ViewPressRel.asp?aId=306918), 2023-06-22: "Creating a leader in high-tech engineered fabrics and films, increasing by c. 20% the revenue of Michelin’s High-Tech Materials businesses."
- [news.michelin.co.uk](https://news.michelin.co.uk/articles/michelin-announces-the-acquisition-of-flex-composite-group-to-create-a-leader-in-high-tech-engineered-fabrics-and-films), 2023-06-26: "This acquisition is in perfect alignment with the Michelin in Motion 2030 strategy."
- [compositesworld.com](https://www.compositesworld.com/news/michelin-to-purchase-flex-composite-group-for-700-million), 2023-07-03: "Tire manufacturing company Michelin has acquired 100% of Flex Composite Group from French private-equity firm IDI for an enterprise value of €700 million."
- [industryinsider.eu](https://industryinsider.eu/industry-news/michelin-to-purchase-flex-composite-group-for-e700-million/), 2023-07-09: "This acquisition is in perfect alignment with Michelin in Motion 2030 strategy."

---
Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.