Michelin buying off-road tire maker Camso in €1.2bn deal

Clermont-Ferrand, France – Groupe Michelin has struck a deal to buy Camso Group, the Magog, Quebec-based off-road tire and rubber track producer, and plans to combine the business with its own OTR tire activities into a new division to be based in Quebec.

Michelin has agreed to pay $1.45 billion (€1.24 billion) for Camso, which the French company said represents an enterprise value of $1.7 billion, or a multiple of 8.3 times EBITDA after synergies. The transaction will not impact Michelin’s financial position.

Michelin said the deal…

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