M&A Deal Summary

Michelin Acquires Oliver Rubber Company

On September 1, 2007, Michelin acquired automotive company Oliver Rubber Company from Cooper Tire & Rubber for 69M USD

Acquisition Highlights
  • This is Michelin’s 1st transaction in the Automotive sector.
  • This is Michelin’s 6th largest (disclosed) transaction.
  • This is Michelin’s 2nd transaction in the United States.
  • This is Michelin’s 1st transaction in South Carolina.

M&A Deal Summary
Date 2007-09-01
Target Oliver Rubber Company
Sector Automotive
Buyer(s) Michelin
Sellers(s) Cooper Tire & Rubber
Deal Type Divestiture
Deal Value 69M USD

Target

Oliver Rubber Company

Greenville, South Carolina, United States
Oliver Rubber Company LLC manufactures and distributes tread rubber products.

Search 201,771 Deals Now

SEARCH BY

  • Buyer Type (PE or Strategic)
  • Deal Size ($10M to $10B+)
  • Sector (60 Sectors)
  • Deal Type
  • Geography
  • & More

Try For Free 7-Day Free Trial

Buyer(S) 1

Buyer

Michelin

Clermont-Ferrand, France
Category Company
Founded 1863
Sector Automotive
Employees117,540
Revenue 28.3B EUR (2023)
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 2 of 20
Sector (Automotive) 1 of 7
Type (Divestiture) 1 of 2
State (South Carolina) 1 of 1
Country (United States) 2 of 3
Year (2007) 1 of 1
Size (of disclosed) 6 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1997-10-01 American Steel Cord Corp

Scottsburg, Indiana, United States

American Steel Cord Corp, Inc. makes metallic tire cords.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-08-18 Async Technologies

Ennis, Ireland

Async Technologies Ltd. developed systems to extend the lifetime of tyres on large commercial vehicle fleets by monitoring tyre health and scheduling maintenance.

Buy -

Seller(S) 1

SELLER

Cooper Tire & Rubber

Findlay, Ohio, United States
Category Company
Founded 1914
Sector Automotive
Employees8,720
Revenue 2.5B USD (2020)
DESCRIPTION
Cooper Tire & Rubber's corporate headquarters in Findlay, Ohio.
Cooper Tire & Rubber's corporate headquarters in Findlay, Ohio.

Cooper Tire & Rubber is a manufacturer and marketer of replacement tires. Cooper focuses on the manufacture and sale of passenger and light and medium truck replacement tires. Cooper Tire & Rubber was founded in 1914 and is based in Findlay, Ohio.

DEAL STATS #
Overall 2 of 2
Sector (Automotive) 1 of 1
Type (Divestiture) 2 of 2
State (South Carolina) 1 of 1
Country (United States) 2 of 2
Year (2007) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2003-03-17 Max-Trac Tire

Stow, Ohio, United States

Max-Trac Tire Co. Inc. is a performance and specialty tire marketer. The Company is based in Stow, Ohio.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-12-01 Qingdao Ge Rui Da Rubber

China

Qingdao Ge Rui Da Rubber Co., Ltd is a provider of truck and bus radial (TBR) tires for global markets and will manufacture TBR tires to meet Cooper’s customer needs in North America, as well as in Asia and other markets.

Buy -
Mergr

Product

Company

Legal