Flex Composite Group

Michelin announced the acquisition of Flex Composite Group (FCG), a European producer of high-tech textiles and films, from private equity firm IDI for €700 million. The deal is expected to close by the end of Q3 2023.

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.

Flex Composite Group (FCG), backed by IDI and Andera Partners, has acquired Selcom, an Italian producer of multiaxial fabrics in technical fibers, from the founding family.