Michelin has announced two projects of acquisition of Cooley Group and Tex Tech Industries, both market leaders in coated fabrics and specialty textiles. This move aligns with its “Michelin in Motion 2030” strategy, of which the company leverages its know-how and expertise to expand into new high-value-added markets.

Over the past two months, Michelin has reached agreements to acquire Cooley Group, a specialist in industrial coated fabrics, and Tex Tech Industries, a premier designer and manufacturer of specialty textiles and fabrics.

Michelin is already a leader in coated fabrics in Europe with brands such as Orca. These two acquisitions would substantially accelerate its expansion into new markets & regions and would increase Michelin’s Polymer Composite Solutions revenue by c.20% (~US$280 million).

Both transactions are expected to close during H1 2026, subject to customary closing adjustments and merger control clearances in relevant jurisdictions. They would be paid for in cash, for undisclosed amounts at this stage.

More about the acquired companies

Celebrating its 100th Anniversary in 2026 and headquartered in Rhode Island (US), Cooley Group is globally recognized for its expertise in high performance polymer coated fabrics, with capabilities in weaving, knitting, and polymer extrusion. The company designs and manufactures innovative and sustainable polymeric solutions for a wide range of applications including healthcare devices, waterproofing, water and chemical containment, and other custom mission-critical environmental solutions.

Founded in 1904, in Maine (US), Tex Tech Industries is a premier designer and manufacturer of specialty textiles, fabrics and coatings for a wide range of industries and niche applications. The company has created solutions for demanding applications including Thermal Protection Systems (TPS) for space vehicles, fuselage burn-resistant aircraft materials, aircraft seat fire-blocking textiles, and custom fabrics for composite applications.