M&A Deal Summary

Michelin Acquires Fenner Group Holdings

On March 19, 2018, Michelin acquired machinery company Fenner Group Holdings for 1.3B GBP

Acquisition Highlights
  • This is Michelin’s 1st transaction in the Machinery sector.
  • This is Michelin’s largest (disclosed) transaction.
  • This is Michelin’s 4th transaction in the United Kingdom.

M&A Deal Summary

Date 2018-03-19
Target Fenner Group Holdings
Sector Machinery
Buyer(s) Michelin
Deal Type Add-on Acquisition
Deal Value 1.3B GBP

Target

Fenner Group Holdings

Hessle, United Kingdom
website
Fenner is a reinforced polymer technology company focused on providing conveyor belt solutions and reinforced polymer products for the mining and general industrial markets.

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Buyer(S) 1

Buyer

Michelin

Clermont-Ferrand, France

website


Category Company
Founded 1863
Sector Automotive
Employees117,540
Revenue 28.6B EUR (2022)
DESCRIPTION
View of Michelin's North American headquarters in Greenville, South Carolina.
View of Michelin's North American headquarters in Greenville, South Carolina.

Michelin is a manufacturer and marketer of tires for every type of vehicle, including airplanes, automobiles, bicycles/motorcycles, earthmovers, farm equipment and trucks. It also offers electronic mobility support services on ViaMichelin.com and publishes travel guides, hotel and restaurant guides, maps and road atlases. Michelin was founded in 1863 and is based in Clermont-Ferrand, France.


DEAL STATS #
Overall 17 of 20
Sector (Machinery) 1 of 1
Type (Add-on Acquisition) 12 of 15
Country (United Kingdom) 4 of 5
Year (2018) 1 of 1
Size (of disclosed) 1 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-11-13 PTG Reifendruckregelsysteme

Neuss, Germany

PTG Reifendruckregelsysteme GmbH is a manufacturer and sells tire inflation systems for vehicles and trailers. PTG Reifendruckregelsysteme GmbH was established in 1991 and is based in Neuss, Germany.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-01-22 PT Multistrada Arah Sarana TBK

Jakarta Barat, Indonesia

PT Multistrada Arah Sarana TBK produces radial tire for two-wheeled vehicles – Corsa and four-wheeled vehicles – Achilles. PT Multistrada Arah Sarana was founded in 1988 and is based in Jakarta Barat, Indonesia.

Buy $439M