Arlington Capital to Sell Tex-Tech Industries to Michelin; FMI Industries Established as Independent Company
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.
