Arlington Capital to Sell Tex-Tech Industries to Michelin; FMI Industries Established as Independent Company
Arlington Capital is set to sell Tex-Tech Industries to Michelin, with the transaction expected to close in the first half of 2026, subject to regulatory approvals. As part of this deal, Tex-Tech's divisions, Fiber Materials, Inc. and Engineered Composites, will be spun off to create FMI Industries, an independent company focused on reinforced composites for defense and aerospace markets, led by former CEO Scott Burkhart. This move aligns with Arlington's strategy to enhance growth in regulated industries.
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Arlington Capital will sell Tex-Tech Industries to Michelin, with the deal expected to close in the first half of 2026, pending regulatory approvals. Concurrently, Tex-Tech's divisions, Fiber Materials, Inc. and Engineered Composites, will be spun out to form FMI Industries, an independent portfolio company led by former Tex-Tech CEO Scott Burkhart.
FMI specializes in reinforced composites for defense, space, and aerospace markets. Arlington's Managing Partner Peter Manos noted Tex-Tech's transformation through R&D in advanced materials and highlighted Michelin's global reach as beneficial for Tex-Tech's expansion.
The transaction reflects Arlington's strategy of enhancing growth in regulated industries. 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.
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