TEXTILES.ORG
Michelin has announced two acquisitions, including Tex-Tech Industries and Cooley Group.
Arlington Capital Partners, a private investment firm focused on government-regulated industries, has entered into a definitive agreement to sell Tex-Tech Industries to Michelin.
As part of the transaction, FMI Industries Inc., which includes two Tex-Tech divisions—Fiber Materials Inc., acquired from Spirit AeroSystems, and the Engineered Composites division acquired from SGL Carbon—will be spun out as an independent Arlington portfolio company.
FMI is focused on reinforced composites, including carbon-carbon, rayon-carbon and related materials for defense, space and aerospace applications. FMI will be led by Scott Burkhart, former CEO of Tex-Tech Industries.
Founded in 1904 in Maine, Tex-Tech Industries is a designer and manufacturer of specialty textiles, fabrics and coatings for a wide range of industries and applications. The company has developed thermal protection systems for space vehicles, fuselage burn-resistant aircraft materials, fire-blocking textiles for aircraft seats, and custom fabrics for composite applications.
Headquartered in Rhode Island, Cooley has expertise in high-performance polymer-coated fabrics. The company is vertically integrated, with capabilities in weaving, knitting, and polymer extrusion. Cooley Group designs and manufactures polymeric solutions for health care devices, waterproofing, water and chemical containment, among other applications.
Both transactions are expected to close during the first half of 2026, subject to customary closing adjustments and merger control clearances in their relevant jurisdictions.