Michelin grows non-tire operations with two US acquisitions

Clermont-Ferrand, France – Michelin has agreed to acquire US-based Cooley Group and Tex Tech Industries, in two transactions aimed at reinforcing its Polymer Composite Solutions business, the tire maker said.

The acquisitions, the values of which were not disclosed, are expected to increase revenue in the Polymer Composite Solutions portfolio by around 20%, equivalent to $280 million (€240 million), said Michelin 2 Jan.

The investment will also support the creation of a dedicated reporting segment in financial disclosures from 2026, as the Polymer Composite Solutions activities reach a “material size,” Michelin.

Cooley Group, headquartered in Rhode Island, is a specialist in high-performance polymer-coated fabrics, with vertically integrated capabilities including weaving, knitting and polymer extrusion.

Founded in 1926, the company supplies coated fabric solutions for applications such as healthcare devices, waterproofing, water and chemical containment, and environmental protection systems.

Tex Tech Industries, founded in 1904 and based in Maine, designs and manufactures speciality textiles and coated fabrics for demanding applications.

These, Michelin said, including thermal protection systems for space vehicles, burn-resistant aircraft materials, aircraft seating fire-blocking textiles and composite reinforcement fabrics.

Michelin said the two businesses offer complementary geographic and technological capabilities and align with the group’s existing activities in coated fabrics, including its Ocra brand in Europe.

Both cash transactions are expected to be completed by the first half of the year, subject to customary closing conditions and merger control approvals.