Tire manufacturing company Michelin (Clermont-Ferrand, France) has acquired 100% of Flex Composite Group (FCG, Paris) from French private-equity firm IDI for an enterprise value of €700 million. FCG specializes in engineered fabrics and films with applications in highly technical markets such as marine, supercars and electric vehicles, sports, or construction. FCG masters a wide range of fiber-reinforced composite solutions, adjacent to those already developed by Michelin. The company, which has 400 employees, primarily operates in Europe. In 2022, FCG reported €202 million in revenue. Over the 2015-2022 period, it delivered an average organic growth of 11%, with a 25-30% EBITDA margin. Read more: Michelin to purchase Flex Composite Group for €700 million | CompositesWorld