At what enterprise value was FLEX COMPOSITE GROUP acquired in 2023?

During the acquisition of FLEX COMPOSITE GROUP by MICHELIN in 2023, the transaction's Enterprise Value is estimated to be in the range of 500M - 1.5b EUR.

What was the EV/EBITDA of FLEX COMPOSITE GROUP when it was acquired by MICHELIN?

The estimated EV/EBITDA multiple for FLEX COMPOSITE GROUP is in the range of 10x - 18x.

When was FLEX COMPOSITE GROUP acquired by MICHELIN?

FLEX COMPOSITE GROUP was acquired by MICHELIN in 2023.

What was the revenue of FLEX COMPOSITE GROUP at the time of the deal?

The revenue of FLEX COMPOSITE GROUP at the time of the deal is estimated to be in the range of 150M - 250M EUR.

What was the EBITDA of FLEX COMPOSITE GROUP during the acquisition?

FLEX COMPOSITE GROUP's EBITDA is estimated to be in the range of 50M - 100M EUR.

How is the data for the FLEX COMPOSITE GROUP acquisition sourced and is it reliable?

Mynth data is contributed by a professional community of M&A and Private Equity experts. Each transaction, including the FLEX COMPOSITE GROUP deal, is systematically cross-verified by our team using private deal documents and official sources. You can also find the official press release for this transaction here: https://www.michelin.com/en/publications/group/michelin-announces-the-acquisition-of-flex-composite-group

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Home Database Industry & ManufacturingFLEX COMPOSITE GROUP

07/2023

FLEX COMPOSITE GROUP acquired by MICHELIN

FRANCE Chemicals & Materials / Material Transformation / Plastics EV 500M - 1.5b EUR

Context

Michelin has successfully completed the acquisition of 100% of the share capital of Flex Composite Group (FCG) from the investment firms IDI and Andera Partners. This transaction is a cornerstone of Michelin's strategy to expand its "High-Tech Materials" division beyond tires. By integrating FCG, Michelin creates a new powerhouse in polymer composite solutions, unlocking deep innovation synergies. FCG's expertise in engineered fabrics and films perfectly complements Michelin's own R&D capabilities, allowing for cross-fertilization in product development for sectors like electric mobility and sustainable construction. The deal is expected to increase the revenue of Michelin's High-Tech Materials business by approximately 20% and is accretive to the group's margins.

FLEX COMPOSITE GROUP, which reported an EBITDA margin of in 2022, is valued in this transaction at an EV/EBITDA multiple of , representing a to the average currently observed in the Industry & Manufacturing sector (11.6x).

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Target

Headquartered in France, Flex Composite Group (FCG) is a European leader in the design, manufacturing, and distribution of high-tech engineered fabrics and technical films. The group operates through three key divisions: Engineered Fabrics, Composite Materials, and Technical Films. FCG s products are used in highly demanding, technical environments across a variety of niche sectors, including marine (inflatable boats), supercars and electric vehicles, sports and leisure, and construction. The company masters a wide range of polymer composite solutions (PVC, TPU, Hypalon, etc.) and is known for its customized, high-performance applications. At the time of the deal, FCG employed approximately 400 people and had achieved significant organic growth driven by strong demand in its premium end-markets.

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2021

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REFERENCES

Valuation range: EV 500M - 1.5b EUR

Revenue range: 150M - 250M EUR

EBITDA range: 50M - 100M EUR

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of FLEX COMPOSITE GROUP by MICHELIN are reserved for mynth community members. Register for free to unlock full data.

Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.

Press release: view release

Target: flex composite group

Acquirer: michelin