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Arlington Capital Partners will sell Tex-Tech, a Kernersville, North Carolina-based manufacturer serving aerospace, space, defense, and specialty industrial markets, to Michelin. The deal is expected to close in the first half of 2026 and will result in the creation of FMI Industries, a new Arlington portfolio company based in Fremont, California.

FMI will be led by Scott Burkhart, the former CEO of Tex-Tech. Financial terms of the deal were not disclosed. Financial advisors for Tex-Tech include William Blair and Harris Williams, while legal advisors are Sheppard Mullin Richter & Hampton LLP and Morrison Foerster LLP. Michelin is advised by Gibson, Dunn & Crutcher LLP and DLA Piper LLP.