Add-on Acquisition • Machinery

Michelin Acquires Fenner Group Holdings

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

Acquisition Context
  • 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.

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M&A Deal Summary

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

Target Company

Fenner Group Holdings

Hessle, United Kingdom
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 Overview 1

Buyer

Michelin

Clermont-Ferrand, France

Category Company
Founded 1863
Sector Automotive
Revenue 27.2B EUR (2024)
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 Context for Buyer #
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